New York State Common Retirement Fund Purchases 38,008 Shares of Diodes Incorporated (NASDAQ:DIOD)

New York State Common Retirement Fund boosted its holdings in shares of Diodes Incorporated (NASDAQ:DIOD) by 18.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 243,396 shares of the semiconductor company’s stock after acquiring an additional 38,008 shares during the period. New York State Common Retirement Fund owned about 0.53% of Diodes worth $19,598,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in shares of Diodes by 1.8% during the third quarter. Vanguard Group Inc. now owns 5,580,606 shares of the semiconductor company’s stock valued at $439,975,000 after purchasing an additional 100,618 shares in the last quarter. Earnest Partners LLC increased its holdings in shares of Diodes by 2.3% in the 3rd quarter. Earnest Partners LLC now owns 2,134,515 shares of the semiconductor company’s stock valued at $168,285,000 after acquiring an additional 47,472 shares during the period. FMR LLC increased its holdings in shares of Diodes by 14.1% in the 3rd quarter. FMR LLC now owns 912,667 shares of the semiconductor company’s stock valued at $71,955,000 after acquiring an additional 112,620 shares during the period. Channing Capital Management LLC raised its position in shares of Diodes by 18.0% in the 3rd quarter. Channing Capital Management LLC now owns 842,511 shares of the semiconductor company’s stock worth $66,424,000 after acquiring an additional 128,643 shares in the last quarter. Finally, American Century Companies Inc. lifted its stake in shares of Diodes by 12.2% during the 3rd quarter. American Century Companies Inc. now owns 616,083 shares of the semiconductor company’s stock worth $48,572,000 after purchasing an additional 66,776 shares during the last quarter. Hedge funds and other institutional investors own 99.23% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have issued reports on the company. Wells Fargo & Company cut their target price on Diodes from $80.00 to $70.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 7th. TD Cowen boosted their price objective on shares of Diodes from $72.00 to $85.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 7th. Finally, Truist Financial decreased their target price 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 research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, Diodes currently has a consensus rating of “Hold” and a consensus target price of $72.40.

Insider Buying and Selling

In other Diodes news, CFO Brett R. Whitmire sold 3,400 shares of the business’s stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $67.30, for a total transaction of $228,820.00. Following the sale, the chief financial officer now owns 48,265 shares in the company, valued at approximately $3,248,234.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, CEO Keh Shew Lu sold 3,000 shares of the firm’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $68.14, for a total transaction of $204,420.00. Following the completion of the transaction, the chief executive officer now owns 256,492 shares of the company’s stock, valued at $17,477,364.88. The sale was disclosed in a filing with the SEC, which is available at 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 transaction, the chief financial officer now owns 48,265 shares of the company’s stock, valued at $3,248,234.50. The disclosure for this sale can be found here. Insiders sold 25,900 shares of company stock worth $1,774,570 in the last 90 days. Insiders own 2.20% of the company’s stock.

Diodes Stock Performance

DIOD opened at $72.68 on Friday. The firm’s 50-day moving average price is $68.72 and its 200-day moving average price is $70.65. The company has a market cap of $3.36 billion, a P/E ratio of 14.80 and a beta of 1.46. The company has a quick ratio of 2.03, a current ratio of 3.02 and a debt-to-equity ratio of 0.01. Diodes Incorporated has a 52-week low of $60.00 and a 52-week high of $97.37.

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