JPMorgan Chase & Co. Boosts Stake in Diodes Incorporated (NASDAQ:DIOD)

JPMorgan Chase & Co. lifted its holdings in Diodes Incorporated (NASDAQ:DIOD) by 34.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 226,742 shares of the semiconductor company’s stock after purchasing an additional 58,597 shares during the quarter. JPMorgan Chase & Co. owned 0.49% of Diodes worth $14,532,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Truvestments Capital LLC purchased a new position in shares of Diodes in the third quarter worth $29,000. GAMMA Investing LLC raised its stake in shares of Diodes by 68.9% in the third quarter. GAMMA Investing LLC now owns 765 shares of the semiconductor company’s stock worth $49,000 after purchasing an additional 312 shares during the last quarter. KBC Group NV raised its stake in shares of 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 last quarter. Canada Pension Plan Investment Board purchased a new position in shares of Diodes in the second quarter worth $173,000. Finally, Quest Partners LLC purchased a new position in shares of Diodes in the third quarter worth $184,000. Hedge funds and other institutional investors own 99.23% of the company’s stock.

Diodes Stock Performance

Shares of DIOD opened at $62.58 on Friday. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.58 and a quick ratio of 2.21. Diodes Incorporated has a one year low of $52.71 and a one year high of $86.74. The firm has a market capitalization of $2.90 billion, a P/E ratio of 47.41 and a beta of 1.32. The business has a fifty day moving average of $62.02 and a 200 day moving average of $65.93.

Wall Street Analysts Forecast Growth

DIOD has been the subject of several recent analyst reports. Truist Financial decreased their price target on Diodes from $69.00 to $62.00 and set a “hold” rating for the company in a research note on Friday, November 8th. Benchmark cut their price objective on Diodes from $83.00 to $75.00 and set a “buy” rating for the company in a report on Monday, November 11th. Finally, StockNews.com raised Diodes from a “sell” rating to a “hold” rating in a report on Monday, November 11th. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $72.80.

About Diodes

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.