Laurion Capital Management LP Invests $379,000 in Diodes Incorporated (DIOD) Stock
Laurion Capital Management LP acquired a new stake in Diodes Incorporated (NASDAQ:DIOD) during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 15,740 shares of the semiconductor company’s stock, valued at approximately $379,000.
Other hedge funds have also added to or reduced their stakes in the company. State of Alaska Department of Revenue lifted its position in Diodes by 79.1% in the 2nd quarter. State of Alaska Department of Revenue now owns 7,542 shares of the semiconductor company’s stock valued at $181,000 after acquiring an additional 3,332 shares in the last quarter. Public Employees Retirement System of Ohio lifted its position in Diodes by 10.1% in the 1st quarter. Public Employees Retirement System of Ohio now owns 8,745 shares of the semiconductor company’s stock valued at $210,000 after acquiring an additional 800 shares in the last quarter. Mason Street Advisors LLC lifted its position in Diodes by 5.7% in the 1st quarter. Mason Street Advisors LLC now owns 8,923 shares of the semiconductor company’s stock valued at $215,000 after acquiring an additional 481 shares in the last quarter. Airain ltd bought a new position in Diodes in the 1st quarter valued at approximately $247,000. Finally, Chicago Equity Partners LLC bought a new position in Diodes in the 2nd quarter valued at approximately $265,000. 73.74% of the stock is currently owned by institutional investors and hedge funds.
A number of brokerages have weighed in on DIOD. Zacks Investment Research upgraded shares of Diodes from a “hold” rating to a “buy” rating and set a $30.00 target price for the company in a research note on Friday, August 11th. BidaskClub upgraded shares of Diodes from a “sell” rating to a “hold” rating in a research note on Monday, July 24th. Cleveland Research lowered shares of Diodes from a “buy” rating to a “neutral” rating in a research note on Thursday, July 20th. Sidoti began coverage on shares of Diodes in a research note on Thursday, September 21st. They set a “neutral” rating and a $32.00 target price for the company. Finally, Robert W. Baird reiterated an “outperform” rating and set a $30.00 target price on shares of Diodes in a research note on Friday, June 9th. One analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $30.67.
Shares of Diodes Incorporated (NASDAQ:DIOD) opened at 29.93 on Friday. The firm’s 50-day moving average is $27.17 and its 200-day moving average is $25.38. The stock has a market capitalization of $1.47 billion, a price-to-earnings ratio of 56.69 and a beta of 1.22. Diodes Incorporated has a 52 week low of $19.64 and a 52 week high of $29.97.
Diodes (NASDAQ:DIOD) last posted its quarterly earnings data on Tuesday, August 8th. The semiconductor company reported $0.36 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.36. Diodes had a net margin of 2.68% and a return on equity of 5.64%. The business had revenue of $264.20 million during the quarter, compared to the consensus estimate of $261.15 million. During the same period in the previous year, the firm posted $0.20 earnings per share. The business’s revenue for the quarter was up 11.8% compared to the same quarter last year. Analysts forecast that Diodes Incorporated will post $1.28 earnings per share for the current fiscal year.
In other news, CEO Keh Shew Lu sold 8,505 shares of Diodes stock in a transaction on Wednesday, July 5th. The shares were sold at an average price of $23.81, for a total transaction of $202,504.05. Following the completion of the sale, the chief executive officer now directly owns 1,032,021 shares in the company, valued at $24,572,420.01. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Semiconductor Corp Lite-On sold 116,209 shares of Diodes stock in a transaction on Wednesday, August 16th. The stock was sold at an average price of $26.95, for a total transaction of $3,131,832.55. Following the sale, the insider now owns 8,045,778 shares of the company’s stock, valued at $216,833,717.10. The disclosure for this sale can be found here. Insiders have sold 344,308 shares of company stock valued at $9,359,790 over the last quarter. Insiders own 7.00% of the company’s stock.
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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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