Diodes Incorporated (NASDAQ:DIOD) Shares Sold by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. lowered its stake in shares of Diodes Incorporated (NASDAQ:DIOD) by 9.3% in the fourth quarter, Holdings Channel reports. The institutional investor owned 3,892 shares of the semiconductor company’s stock after selling 397 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Diodes were worth $240,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in DIOD. Truvestments Capital LLC acquired a new position in Diodes in the third quarter worth $29,000. Smartleaf Asset Management LLC boosted its holdings in Diodes by 198.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 785 shares of the semiconductor company’s stock worth $48,000 after purchasing an additional 522 shares during the period. KBC Group NV boosted its holdings in Diodes by 33.9% in the third quarter. KBC Group NV now owns 1,454 shares of the semiconductor company’s stock worth $93,000 after purchasing an additional 368 shares during the period. Quest Partners LLC acquired a new position in Diodes in the third quarter worth $184,000. Finally, Verdence Capital Advisors LLC acquired a new position in Diodes in the fourth quarter worth $250,000. Institutional investors and hedge funds own 99.23% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on DIOD. Benchmark cut their target price on Diodes from $74.00 to $65.00 and set a “buy” rating on the stock in a research note on Wednesday, February 12th. Truist Financial cut their target price on Diodes from $63.00 to $53.00 and set a “hold” rating on the stock in a research note on Wednesday, February 12th.

Insider Buying and Selling at Diodes

In other Diodes news, CFO Brett R. Whitmire sold 830 shares of the company’s stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $56.04, for a total transaction of $46,513.20. Following the completion of the sale, the chief financial officer now directly owns 51,525 shares of the company’s stock, valued at approximately $2,887,461. This represents a 1.59 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Emily Yang sold 950 shares of the company’s stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $56.04, for a total value of $53,238.00. Following the completion of the transaction, the senior vice president now owns 65,107 shares in the company, valued at $3,648,596.28. This represents a 1.44 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 4,680 shares of company stock valued at $262,267. 2.30% of the stock is owned by insiders.

Diodes Stock Performance

DIOD stock opened at $45.30 on Friday. The company has a market capitalization of $2.10 billion, a P/E ratio of 47.68 and a beta of 1.31. The company has a 50-day simple moving average of $53.93 and a 200 day simple moving average of $59.33. Diodes Incorporated has a fifty-two week low of $44.24 and a fifty-two week high of $86.74. The company has a quick ratio of 1.99, a current ratio of 3.26 and a debt-to-equity ratio of 0.01.

Diodes (NASDAQ:DIOD) last issued its quarterly earnings results on Tuesday, February 11th. The semiconductor company reported $0.27 earnings per share for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.27). Diodes had a net margin of 3.36% and a return on equity of 3.28%. Sell-side analysts predict that Diodes Incorporated will post 1.82 earnings per share for the current fiscal year.

Diodes Company 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.