Congress Asset Management Co. MA Sells 1,216,775 Shares of Diodes Incorporated (NASDAQ:DIOD)

Congress Asset Management Co. MA reduced its position in shares of Diodes Incorporated (NASDAQ:DIOD) by 98.7% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 15,915 shares of the semiconductor company’s stock after selling 1,216,775 shares during the quarter. Congress Asset Management Co. MA’s holdings in Diodes were worth $1,122,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in DIOD. Deutsche Bank AG raised its holdings in Diodes by 12.0% during the 3rd quarter. Deutsche Bank AG now owns 27,412 shares of the semiconductor company’s stock worth $2,161,000 after purchasing an additional 2,935 shares during the last quarter. PNC Financial Services Group Inc. increased its stake in shares of Diodes by 3.4% in the 3rd quarter. PNC Financial Services Group Inc. now owns 8,440 shares of the semiconductor company’s stock valued at $665,000 after acquiring an additional 274 shares during the last quarter. Kestra Advisory Services LLC increased its stake in shares of Diodes by 18.4% in the 3rd quarter. Kestra Advisory Services LLC now owns 8,676 shares of the semiconductor company’s stock valued at $684,000 after acquiring an additional 1,348 shares during the last quarter. Envestnet Portfolio Solutions Inc. bought a new stake in shares of Diodes in the 3rd quarter valued at about $862,000. Finally, Envestnet Asset Management Inc. increased its stake in shares of Diodes by 49.3% in the 3rd quarter. Envestnet Asset Management Inc. now owns 285,209 shares of the semiconductor company’s stock valued at $22,486,000 after acquiring an additional 94,134 shares during the last quarter. 99.23% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently commented on DIOD shares. Robert W. Baird upped their price target on Diodes from $56.00 to $72.00 and gave the company a “neutral” rating in a research note on Friday, May 10th. Truist Financial upped their price target on Diodes from $67.00 to $74.00 and gave the company a “hold” rating in a research note on Friday, May 10th. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $74.20.

Diodes Price Performance

NASDAQ DIOD opened at $72.79 on Friday. The business has a 50 day simple moving average of $72.26 and a 200 day simple moving average of $71.52. Diodes Incorporated has a 52-week low of $60.00 and a 52-week high of $96.68. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.05 and a current ratio of 3.18. The stock has a market cap of $3.36 billion, a price-to-earnings ratio of 19.83 and a beta of 1.39.

Diodes (NASDAQ:DIOD) last posted its earnings results on Thursday, May 9th. The semiconductor company reported $0.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.27 by $0.01. Diodes had a return on equity of 9.11% and a net margin of 11.36%. The business had revenue of $301.90 million during the quarter, compared to analysts’ expectations of $305.47 million. During the same period in the prior year, the business earned $1.59 EPS. Diodes’s revenue for the quarter was down 35.4% compared to the same quarter last year. Analysts anticipate that Diodes Incorporated will post 1.8 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Diodes news, Director Peter M. Menard sold 630 shares of the company’s stock in a transaction that occurred on Wednesday, May 29th. The stock was sold at an average price of $71.96, for a total transaction of $45,334.80. Following the completion of the transaction, the director now owns 18,050 shares of the company’s stock, valued at approximately $1,298,878. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Diodes news, Director Peter M. Menard sold 630 shares of the company’s stock in a transaction that occurred on Wednesday, May 29th. The stock was sold at an average price of $71.96, for a total transaction of $45,334.80. Following the completion of the transaction, the director now owns 18,050 shares of the company’s stock, valued at approximately $1,298,878. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Keh Shew Lu sold 6,000 shares of the stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $73.93, for a total value of $443,580.00. Following the completion of the sale, the chief executive officer now directly owns 102,996 shares of the company’s stock, valued at approximately $7,614,494.28. The disclosure for this sale can be found here. Insiders sold a total of 30,630 shares of company stock valued at $2,272,715 in the last quarter. 2.30% of the stock is currently owned by insiders.

Diodes Profile

Diodes Incorporated, together with its subsidiaries, manufactures and supplies application-specific standard products in the broad discrete, logic, analog, and mixed-signal semiconductor markets worldwide. The company offers discrete semiconductor products, such as MOSFETs, SiC MOSFETs; data line protection, power line protection, thyristers, USB Type-C protection, and transient voltage suppressors; Schottky, small signal switching, Zener, and SiC diodes; bridges, super barrier, Schottky, Schottky bridge, and fast/ultra-fast rectifiers; and bipolar, avalanche, gate driver, and pre-bias transistors.