Federated Hermes Inc. Boosts Position in Diodes Incorporated (NASDAQ:DIOD)

Federated Hermes Inc. increased its holdings in Diodes Incorporated (NASDAQ:DIOD) by 3.3% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 15,514 shares of the semiconductor company’s stock after acquiring an additional 502 shares during the quarter. Federated Hermes Inc.’s holdings in Diodes were worth $1,116,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in the stock. Norges Bank bought a new stake in shares of Diodes during the 4th quarter valued at about $31,240,000. Wells Fargo & Company MN grew its holdings in shares of Diodes by 2.2% during the 4th quarter. Wells Fargo & Company MN now owns 155,572 shares of the semiconductor company’s stock worth $12,527,000 after acquiring an additional 3,352 shares during the period. Corient Private Wealth LLC bought a new position in shares of Diodes in the 4th quarter worth approximately $2,623,000. CreativeOne Wealth LLC purchased a new position in shares of Diodes in the 4th quarter valued at approximately $318,000. Finally, TD Asset Management Inc boosted its position in shares of Diodes by 20.2% during the fourth quarter. TD Asset Management Inc now owns 20,800 shares of the semiconductor company’s stock valued at $1,675,000 after purchasing an additional 3,500 shares in the last quarter. Institutional investors own 99.23% of the company’s stock.

Analyst Ratings Changes

A number of research firms have issued reports on DIOD. Truist Financial decreased their price objective on Diodes from $74.00 to $69.00 and set a “hold” rating for the company in a report on Friday, August 9th. StockNews.com lowered shares of Diodes from a “hold” rating to a “sell” rating in a research note on Wednesday, August 21st. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, Diodes currently has a consensus rating of “Hold” and an average price target of $73.20.

Diodes Stock Performance

Shares of Diodes stock opened at $60.12 on Friday. Diodes Incorporated has a 1 year low of $58.62 and a 1 year high of $86.74. The firm’s 50-day moving average is $68.88 and its 200 day moving average is $70.64. The stock has a market cap of $2.77 billion, a price-to-earnings ratio of 16.38 and a beta of 1.32. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.38 and a quick ratio of 2.10.

Diodes (NASDAQ:DIOD) last posted its quarterly earnings results on Thursday, August 8th. The semiconductor company reported $0.33 EPS for the quarter, beating analysts’ consensus estimates of $0.30 by $0.03. Diodes had a net margin of 7.12% and a return on equity of 5.76%. The firm had revenue of $319.80 million for the quarter, compared to analysts’ expectations of $316.12 million. During the same quarter in the prior year, the company posted $1.59 earnings per share. The business’s revenue for the quarter was down 31.5% on a year-over-year basis. Sell-side analysts anticipate that Diodes Incorporated will post 1.6 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Brett R. Whitmire sold 1,900 shares of the stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $69.99, for a total transaction of $132,981.00. Following the sale, the chief financial officer now directly owns 46,365 shares of the company’s stock, valued at $3,245,086.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, CFO Brett R. Whitmire sold 1,900 shares of the stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $69.99, for a total transaction of $132,981.00. Following the transaction, the chief financial officer now owns 46,365 shares in the company, valued at $3,245,086.35. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Emily Yang sold 1,000 shares of Diodes stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $70.48, for a total transaction of $70,480.00. Following the completion of the sale, the senior vice president now directly owns 59,820 shares of the company’s stock, valued at approximately $4,216,113.60. The disclosure for this sale can be found here. In the last quarter, insiders sold 24,182 shares of company stock valued at $1,640,921. Corporate insiders own 2.30% of the company’s stock.

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.