GSA Capital Partners LLP Cuts Stake in Diodes Incorporated (DIOD)
GSA Capital Partners LLP reduced its position in Diodes Incorporated (NASDAQ:DIOD) by 13.9% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 64,162 shares of the semiconductor company’s stock after selling 10,391 shares during the quarter. GSA Capital Partners LLP owned 0.13% of Diodes worth $1,920,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Algert Global LLC boosted its holdings in shares of Diodes by 21.0% in the 3rd quarter. Algert Global LLC now owns 106,479 shares of the semiconductor company’s stock worth $3,187,000 after purchasing an additional 18,511 shares in the last quarter. Piedmont Investment Advisors LLC purchased a new position in shares of Diodes in the 3rd quarter worth about $250,000. California Public Employees Retirement System boosted its holdings in shares of Diodes by 5.6% in the 3rd quarter. California Public Employees Retirement System now owns 58,508 shares of the semiconductor company’s stock worth $1,751,000 after purchasing an additional 3,108 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Diodes by 7.0% in the 3rd quarter. Dimensional Fund Advisors LP now owns 3,475,574 shares of the semiconductor company’s stock valued at $104,023,000 after acquiring an additional 227,672 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. lifted its stake in shares of Diodes by 7.6% in the 3rd quarter. Schwab Charles Investment Management Inc. now owns 262,098 shares of the semiconductor company’s stock valued at $7,845,000 after acquiring an additional 18,503 shares during the last quarter. Hedge funds and other institutional investors own 74.74% of the company’s stock.
DIOD has been the subject of a number of recent research reports. Sidoti initiated coverage on Diodes in a research note on Thursday, September 21st. They issued a “neutral” rating and a $32.00 target price for the company. ValuEngine lowered Diodes from a “buy” rating to a “hold” rating in a research note on Wednesday, November 15th. Zacks Investment Research lowered Diodes from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 10th. Benchmark lowered Diodes from a “buy” rating to a “hold” rating in a research note on Monday, October 30th. Finally, Robert W. Baird reissued a “buy” rating and issued a $37.00 target price on shares of Diodes in a research note on Tuesday, October 17th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $35.67.
Diodes (NASDAQ:DIOD) last released its earnings results on Tuesday, November 7th. The semiconductor company reported $0.45 earnings per share for the quarter, beating analysts’ consensus estimates of $0.44 by $0.01. The company had revenue of $285.20 million during the quarter, compared to analyst estimates of $281.66 million. Diodes had a return on equity of 6.44% and a net margin of 2.96%. Diodes’s revenue for the quarter was up 13.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.30 EPS. analysts expect that Diodes Incorporated will post 1.35 earnings per share for the current year.
In other Diodes news, major shareholder Semiconductor Corp Lite-On sold 7,247 shares of the company’s stock in a transaction that occurred on Thursday, November 30th. The stock was sold at an average price of $30.36, for a total transaction of $220,018.92. Following the completion of the transaction, the insider now owns 7,772,425 shares of the company’s stock, valued at approximately $235,970,823. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Clemente Beltran sold 4,993 shares of the company’s stock in a transaction that occurred on Friday, October 27th. The shares were sold at an average price of $35.00, for a total value of $174,755.00. Following the transaction, the vice president now directly owns 31,256 shares of the company’s stock, valued at approximately $1,093,960. The disclosure for this sale can be found here. Insiders have sold a total of 477,486 shares of company stock valued at $14,707,920 in the last ninety days. 7.00% of the stock is currently owned by corporate insiders.
Diodes Incorporated is a manufacturer and supplier of application-specific standard products within the discrete, logic, analog and mixed-signal semiconductor markets, serving the consumer electronics, computing, communications, industrial and automotive markets. The Company’s products include diodes; rectifiers; transistors; metal-oxide semiconductor field-effect transistors (MOSFETs); protection devices; amplifiers and comparators; Hall-effect and temperature sensors, and power management devices, including light emitting diode (LED) drivers, alternating current (AC)-direct current (DC) and DC-DC switching, linear voltage regulators and voltage references, along with special function devices, such as universal serial bus (USB) power switches, load switches, voltage supervisors and motor controllers.
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