Strs Ohio increased its stake in Diodes Incorporated (NASDAQ:DIOD – Free Report) by 72.5% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 15,700 shares of the semiconductor company’s stock after purchasing an additional 6,600 shares during the quarter. Strs Ohio’s holdings in Diodes were worth $1,072,000 at the end of the most recent quarter.
Other hedge funds have also added to or reduced their stakes in the company. Arrowstreet Capital Limited Partnership purchased a new position in shares of Diodes in the 3rd quarter worth $37,519,000. Victory Capital Management Inc. boosted its position in Diodes by 901.2% in the fourth quarter. Victory Capital Management Inc. now owns 509,630 shares of the semiconductor company’s stock worth $25,145,000 after purchasing an additional 458,727 shares during the last quarter. Invesco Ltd. boosted its position in Diodes by 183.0% in the third quarter. Invesco Ltd. now owns 519,013 shares of the semiconductor company’s stock worth $27,617,000 after purchasing an additional 335,644 shares during the last quarter. Ameriprise Financial Inc. grew its stake in shares of Diodes by 132.3% during the 2nd quarter. Ameriprise Financial Inc. now owns 402,105 shares of the semiconductor company’s stock valued at $21,267,000 after purchasing an additional 228,976 shares during the period. Finally, Lazard Asset Management LLC grew its stake in shares of Diodes by 671.4% during the 3rd quarter. Lazard Asset Management LLC now owns 220,951 shares of the semiconductor company’s stock valued at $11,757,000 after purchasing an additional 192,309 shares during the period. 99.23% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
DIOD has been the topic of a number of research reports. Zacks Research downgraded shares of Diodes from a “strong-buy” rating to a “hold” rating in a report on Monday, June 15th. Robert W. Baird set a $120.00 price target on shares of Diodes in a research report on Friday, May 8th. Finally, Truist Financial lifted their price target on shares of Diodes from $98.00 to $139.00 and gave the stock a “buy” rating in a research note on Friday, May 8th. Three analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $113.00.
Diodes Price Performance
NASDAQ:DIOD opened at $91.57 on Wednesday. The business’s 50-day simple moving average is $106.04 and its two-hundred day simple moving average is $80.12. Diodes Incorporated has a 52 week low of $42.28 and a 52 week high of $125.99. The stock has a market cap of $4.21 billion, a PE ratio of 49.77 and a beta of 1.88. The company has a quick ratio of 1.97, a current ratio of 3.17 and a debt-to-equity ratio of 0.01.
Diodes (NASDAQ:DIOD – Get Free Report) last released its earnings results on Thursday, May 7th. The semiconductor company reported $0.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.08. Diodes had a return on equity of 3.48% and a net margin of 5.50%.The firm had revenue of $405.47 million during the quarter, compared to analysts’ expectations of $396.33 million. During the same quarter last year, the business posted $0.19 earnings per share. The firm’s revenue was up 22.1% on a year-over-year basis. As a group, analysts forecast that Diodes Incorporated will post 2.58 EPS for the current fiscal year.
Insider Transactions at Diodes
In other Diodes news, insider Jin Zhao sold 3,689 shares of the stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $106.86, for a total transaction of $394,206.54. Following the completion of the transaction, the insider owned 43,531 shares of the company’s stock, valued at $4,651,722.66. This represents a 7.81% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Brett R. Whitmire sold 16,556 shares of the firm’s stock in a transaction dated Wednesday, May 13th. The shares were sold at an average price of $103.34, for a total value of $1,710,897.04. Following the transaction, the chief financial officer owned 44,632 shares of the company’s stock, valued at approximately $4,612,270.88. The trade was a 27.06% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 70,981 shares of company stock valued at $7,616,906. 1.70% of the stock is owned by corporate insiders.
Diodes Profile
Diodes Incorporated (NASDAQ: DIOD) is a global manufacturer and supplier of high‐performance discrete, logic, analog and mixed‐signal semiconductor products. Headquartered in Plano, Texas, the company designs and develops a broad range of discrete components, standard logic functions, power management circuits, interface products and array products. Its portfolio includes rectifiers, MOSFETs, general‐purpose diodes, voltage regulators, comparators, buffers and other building blocks for electronic systems.
Diodes Incorporated serves a variety of end markets such as automotive, computing, communications, consumer electronics, industrial and lighting.
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