Diodes Incorporated (NASDAQ:DIOD) Shares Sold by Arizona State Retirement System

Arizona State Retirement System cut its holdings in shares of Diodes Incorporated (NASDAQ:DIOD) by 1.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 12,842 shares of the semiconductor company’s stock after selling 176 shares during the period. Arizona State Retirement System’s holdings in Diodes were worth $1,034,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of Diodes in the fourth quarter worth about $30,756,000. Fuller & Thaler Asset Management Inc. raised its position in shares of Diodes by 102.3% in the first quarter. Fuller & Thaler Asset Management Inc. now owns 578,250 shares of the semiconductor company’s stock worth $50,302,000 after acquiring an additional 292,450 shares during the period. Global Alpha Capital Management Ltd. acquired a new position in shares of Diodes in the third quarter worth about $13,866,000. First Trust Advisors LP raised its position in shares of Diodes by 272.2% in the first quarter. First Trust Advisors LP now owns 232,230 shares of the semiconductor company’s stock worth $21,542,000 after acquiring an additional 169,840 shares during the period. Finally, Renaissance Technologies LLC raised its position in shares of Diodes by 266.9% in the first quarter. Renaissance Technologies LLC now owns 212,651 shares of the semiconductor company’s stock worth $18,499,000 after acquiring an additional 154,700 shares during the period. 99.23% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CFO Brett R. Whitmire sold 3,400 shares of the stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $67.30, for a total transaction of $228,820.00. Following the completion of the transaction, the chief financial officer now owns 48,265 shares of the company’s stock, valued at approximately $3,248,234.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Keh Shew Lu sold 12,000 shares of Diodes stock in a transaction on Monday, February 26th. The shares were sold at an average price of $68.78, for a total transaction of $825,360.00. Following the completion of the sale, the chief executive officer now directly owns 262,492 shares of the company’s stock, valued at approximately $18,054,199.76. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Brett R. Whitmire sold 3,400 shares of the business’s stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $67.30, for a total transaction of $228,820.00. Following the completion of the sale, the chief financial officer now directly owns 48,265 shares of the company’s stock, valued at $3,248,234.50. The disclosure for this sale can be found here. In the last quarter, insiders sold 25,900 shares of company stock valued at $1,774,570. Company insiders own 2.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Wells Fargo & Company decreased their price objective on shares of Diodes from $80.00 to $70.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 7th. TD Cowen upped their price target on shares of Diodes from $72.00 to $85.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 7th. Finally, Truist Financial reduced their price target on shares of Diodes from $78.00 to $67.00 and set a “hold” rating for the company in a research report on Wednesday, February 7th. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, Diodes currently has an average rating of “Hold” and a consensus price target of $72.40.

Diodes Stock Performance

Diodes stock opened at $67.88 on Tuesday. The firm has a 50 day simple moving average of $68.57 and a 200-day simple moving average of $71.25. Diodes Incorporated has a 1-year low of $60.00 and a 1-year high of $97.37. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.02 and a quick ratio of 2.03. The stock has a market cap of $3.12 billion, a price-to-earnings ratio of 13.82 and a beta of 1.47.

Diodes (NASDAQ:DIOD) last posted its quarterly earnings results on Tuesday, February 6th. The semiconductor company reported $0.51 earnings per share for the quarter, beating the consensus estimate of $0.47 by $0.04. The business had revenue of $322.70 million during the quarter, compared to analysts’ expectations of $324.76 million. Diodes had a net margin of 13.67% and a return on equity of 12.79%. The business’s revenue for the quarter was down 35.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.73 EPS. On average, analysts expect that Diodes Incorporated will post 2.55 EPS for the current year.

About Diodes

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.