Cinctive Capital Management LP Takes $7.79 Million Position in Diodes Incorporated (NASDAQ:DIOD)

Cinctive Capital Management LP purchased a new position in shares of Diodes Incorporated (NASDAQ:DIOD) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 121,564 shares of the semiconductor company’s stock, valued at approximately $7,791,000. Cinctive Capital Management LP owned about 0.26% of Diodes as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently bought and sold shares of the business. GAMMA Investing LLC boosted its position in Diodes by 66.5% during the second quarter. GAMMA Investing LLC now owns 453 shares of the semiconductor company’s stock valued at $33,000 after purchasing an additional 181 shares in the last quarter. SummerHaven Investment Management LLC boosted its holdings in shares of Diodes by 2.7% in the 2nd quarter. SummerHaven Investment Management LLC now owns 8,101 shares of the semiconductor company’s stock valued at $583,000 after buying an additional 210 shares in the last quarter. Arizona State Retirement System grew its position in shares of Diodes by 1.9% in the 2nd quarter. Arizona State Retirement System now owns 12,861 shares of the semiconductor company’s stock worth $925,000 after buying an additional 236 shares during the last quarter. Azzad Asset Management Inc. ADV grew its position in shares of Diodes by 2.5% in the 2nd quarter. Azzad Asset Management Inc. ADV now owns 10,115 shares of the semiconductor company’s stock worth $728,000 after buying an additional 250 shares during the last quarter. Finally, Oak Associates Ltd. OH raised its stake in shares of Diodes by 0.5% during the 2nd quarter. Oak Associates Ltd. OH now owns 54,757 shares of the semiconductor company’s stock worth $3,939,000 after acquiring an additional 284 shares in the last quarter. Institutional investors own 99.23% of the company’s stock.

Diodes Trading Up 1.1 %

Shares of DIOD opened at $65.00 on Monday. Diodes Incorporated has a 52-week low of $52.71 and a 52-week high of $86.74. The stock has a market cap of $3.01 billion, a PE ratio of 49.24 and a beta of 1.32. The firm’s fifty day moving average is $61.98 and its two-hundred day moving average is $67.87. The company has a quick ratio of 2.21, a current ratio of 3.58 and a debt-to-equity ratio of 0.01.

Analysts Set New Price Targets

Several equities analysts have issued reports on DIOD shares. Benchmark cut their price target on shares of Diodes from $83.00 to $75.00 and set a “buy” rating on the stock in a report on Monday, November 11th. StockNews.com raised Diodes from a “sell” rating to a “hold” rating in a research report on Monday, November 11th. Finally, Truist Financial reduced their target price on Diodes from $69.00 to $62.00 and set a “hold” rating on the stock in a research report on Friday, November 8th. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $72.80.

Diodes 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.