Bank of New York Mellon Corp Reduces Stock Position in Diodes Incorporated (NASDAQ:DIOD)

Bank of New York Mellon Corp lowered its stake in Diodes Incorporated (NASDAQ:DIOD) by 42.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 316,938 shares of the semiconductor company’s stock after selling 229,981 shares during the period. Bank of New York Mellon Corp owned approximately 0.68% of Diodes worth $19,546,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the stock. KBC Group NV boosted its stake in Diodes by 33.9% during the third quarter. KBC Group NV now owns 1,454 shares of the semiconductor company’s stock worth $93,000 after buying an additional 368 shares during the period. Sanctuary Advisors LLC grew its position in Diodes by 6.4% in the 4th quarter. Sanctuary Advisors LLC now owns 7,087 shares of the semiconductor company’s stock valued at $414,000 after acquiring an additional 425 shares during the last quarter. Truvestments Capital LLC purchased a new stake in Diodes in the third quarter worth $29,000. The Manufacturers Life Insurance Company grew its stake in Diodes by 2.6% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 25,799 shares of the semiconductor company’s stock worth $1,653,000 after acquiring an additional 649 shares in the last quarter. Finally, Rhumbline Advisers raised its stake in shares of Diodes by 0.6% during the fourth quarter. Rhumbline Advisers now owns 138,468 shares of the semiconductor company’s stock valued at $8,539,000 after acquiring an additional 838 shares in the last quarter. 99.23% of the stock is owned by institutional investors.

Analysts Set New Price Targets

DIOD has been the topic of several research reports. StockNews.com upgraded Diodes from a “sell” rating to a “hold” rating in a research note on Monday, November 11th. Truist Financial reduced their target price on shares of Diodes from $63.00 to $53.00 and set a “hold” rating for the company in a report on Wednesday, February 12th. Finally, Benchmark cut their price objective on shares of Diodes from $74.00 to $65.00 and set a “buy” rating on the stock in a research report on Wednesday, February 12th.

Insider Activity at Diodes

In related news, CFO Brett R. Whitmire sold 830 shares of the stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $56.04, for a total transaction of $46,513.20. Following 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 sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, President Gary Yu sold 2,900 shares of the company’s stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $56.04, for a total transaction of $162,516.00. Following the completion of the transaction, the president now owns 79,697 shares of the company’s stock, valued at approximately $4,466,219.88. This trade represents a 3.51 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 4,680 shares of company stock valued at $262,267 in the last ninety days. Company insiders own 2.30% of the company’s stock.

Diodes Trading Down 5.5 %

Shares of NASDAQ:DIOD opened at $46.38 on Tuesday. Diodes Incorporated has a 1 year low of $45.98 and a 1 year high of $86.74. The firm has a market capitalization of $2.15 billion, a P/E ratio of 48.82 and a beta of 1.31. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.26 and a quick ratio of 1.99. The business’s 50-day moving average is $57.03 and its 200 day moving average is $60.68.

Diodes (NASDAQ:DIOD) last released its earnings results on Tuesday, February 11th. The semiconductor company reported $0.27 EPS for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.27). Diodes had a return on equity of 3.28% and a net margin of 3.36%. On average, research 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.