On August 20, 2023, Moran Wealth Management LLC announced that it has increased its position in Diodes Incorporated (NASDAQ: DIOD) by 26.4% during the first quarter. According to the company’s recent filing with the Securities and Exchange Commission (SEC), the institutional investor now owns 28,869 shares of the semiconductor company’s stock after purchasing an additional 6,023 shares during the period. At the end of the reporting period, Moran Wealth Management LLC owned approximately 0.06% of Diodes, amounting to a value of $2,678,000.
In its most recent quarterly earnings report on August 8th, Diodes reported earnings per share (EPS) of $1.59 for the quarter. This beat analysts’ consensus estimates by $0.02. The company’s net margin was noted to be 16.99%, and a return on equity stood at 19.78%. The business generated revenue of $467.20 million during this period, slightly surpassing analyst estimates of $467.12 million. However, compared to the same period last year, Diodes experienced a decline in revenue by 6.7%. Research analysts predict that Diodes Incorporated will post earnings per share of approximately $5.51 for the current year.
Various equities analysts have shared their perspective on Diodes Incorporated’s stock performance as well as issued recommendations based on their analyses. For instance, Benchmark lowered their target price on shares of Diodes from $100.00 to $95.00 but maintained a “buy” rating on the stock in their research note on August 9th.
StockNews.com also assumed coverage on shares of Diodes and indicated a “buy” rating on the stock in a research note released recently.
Additionally, Wells Fargo & Company lowered their price objective from $95.00 to $85.
According to data obtained from Bloomberg.com, Diodes presently maintains an average rating of “Moderate Buy,” with an average price target of $103.60. Investors and market experts will likely keep a close eye on the company’s performance and any future developments to make informed decisions regarding their investment strategies.
It is important to note that the information mentioned above is based on the available data as of August 20, 2023, and investors should consider conducting thorough research and analysis before making investment decisions.
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Increased Hedge Fund Activity and Insider Selling: A Look into Diodes Incorporated’s Current Financial Situation
Diodes Incorporated, a semiconductor company, has recently seen activity from several hedge funds. Vanguard Personalized Indexing Management LLC increased its stake in Diodes by 19.0% during the first quarter of this year. The firm now owns 7,256 shares of Diodes’ stock, valued at $673,000, after purchasing an additional 1,160 shares. Similarly, Burney Co. boosted its stake by 0.7%, owning 34,033 shares worth $3,157,000 after acquiring an additional 247 shares in the last quarter.
Zions Bancorporation N.A., another institutional investor, increased its stake in Diodes by 15.4% during the first quarter and now owns 20,139 shares valued at $1,868,000. Credit Suisse AG also lifted its stake by 3.4%, owning 39,849 shares valued at $3,696,000 after acquiring an additional 1,316 shares during the period.
Furthermore, LPL Financial LLC increased its stake in Diodes by a significant 18.6% during the first quarter and now owns 81,001 shares valued at $7,514,000 after acquiring an additional 12,683 shares.
While these institutional investors have shown confidence in Diodes’ potential growth prospects through their increased stakes in the company’s stock holdings this year-much to the bafflement of industry observers-it is also important to note that institutional investors own a staggering 96.95% of Diodes’ stock.
In other news related to Diodes Incorporated’s financial activities and leadership changes within the company itself-CEO Keh Shew Lu recently sold off a significant portion of his personal stock holdingsHe offloaded around3a total of ,000 sharessharesequating to approximately $291,,00000 . This transaction occurred on Tuesday May30 th20223,. After this sale, the CEO’s personal stock ownership in Diodes stands atm283,492 shares, ,valued at approximately $27,498,dollars 724..
Additionally, director Peter M. Menard also sold some of his own Diodes stock. On Thursday June 1st, He conducted a sale for sell a totalconsisting of had630 shareswere of soldDiodes stock, which totaled an amountvaluution equivalentg to $60,equival: 713 dollars.10 Following this sale,his directortotal Menardstock nowemains ownerships standsat s18k680 shares of 251the company’s8-+-+- sStockacarceas.. valued at $1,800,,191f.60.
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Investors and market analysts will continue to observe Diodes Incorporated closely as they navigate through their current perplexing situation involving increased hedge fund activity and insider selling. With uncertainty surrounding the motives behind these purchases and sales, it remains to be seen how Diodes will fare in the coming months and whether it can maintain stability amidst the bustle of recent financial activities within the company.
