Teacher Retirement System of Texas Trims Stock Position in Diodes Incorporated (NASDAQ:DIOD)

Teacher Retirement System of Texas cut its holdings in Diodes Incorporated (NASDAQ:DIOD) by 55.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 7,781 shares of the semiconductor company’s stock after selling 9,539 shares during the period. Teacher Retirement System of Texas’ holdings in Diodes were worth $627,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in DIOD. GAMMA Investing LLC acquired a new stake in shares of Diodes during the fourth quarter valued at about $30,000. NBC Securities Inc. purchased a new stake in Diodes in the third quarter valued at approximately $59,000. Principal Securities Inc. acquired a new position in Diodes during the fourth quarter worth $74,000. Meeder Asset Management Inc. purchased a new position in shares of Diodes during the fourth quarter worth $143,000. Finally, Signaturefd LLC grew its stake in shares of Diodes by 9.0% in the third quarter. Signaturefd LLC now owns 2,018 shares of the semiconductor company’s stock valued at $159,000 after buying an additional 167 shares in the last quarter. 99.23% of the stock is currently owned by hedge funds and other institutional investors.

Diodes Stock Performance

NASDAQ:DIOD opened at $73.57 on Friday. Diodes Incorporated has a 12 month low of $60.00 and a 12 month high of $97.37. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.18 and a quick ratio of 2.05. The firm has a market capitalization of $3.39 billion, a PE ratio of 20.05 and a beta of 1.44. The business’s fifty day moving average price is $70.57 and its 200 day moving average price is $70.73.

Diodes (NASDAQ:DIOD) last posted its earnings results on Thursday, May 9th. The semiconductor company reported $0.28 earnings per share for the quarter, topping the consensus estimate of $0.27 by $0.01. The firm had revenue of $301.90 million during the quarter, compared to analysts’ expectations of $305.47 million. Diodes had a return on equity of 9.11% and a net margin of 11.36%. The firm’s revenue was down 35.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.59 earnings per share. On average, sell-side analysts anticipate that Diodes Incorporated will post 1.8 earnings per share for the current fiscal year.

Insider Buying and Selling at Diodes

In other Diodes news, CEO Keh Shew Lu sold 3,000 shares of Diodes stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $68.14, for a total value of $204,420.00. Following the transaction, the chief executive officer now directly owns 256,492 shares in the company, valued at $17,477,364.88. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, CEO Keh Shew Lu sold 3,000 shares of the firm’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $68.14, for a total transaction of $204,420.00. Following the transaction, the chief executive officer now owns 256,492 shares of the company’s stock, valued at $17,477,364.88. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Brett R. Whitmire sold 3,400 shares of the stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $67.30, for a total value of $228,820.00. Following 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. Over the last quarter, insiders sold 48,400 shares of company stock worth $3,485,980. 2.30% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on DIOD. TD Cowen lifted their target price on Diodes from $72.00 to $85.00 and gave the company an “outperform” rating in a research report on Wednesday, February 7th. Truist Financial increased their target price on shares of Diodes from $67.00 to $74.00 and gave the stock a “hold” rating in a report on Friday, May 10th. Wells Fargo & Company dropped their price target on shares of Diodes from $80.00 to $70.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 7th. Finally, Robert W. Baird lifted their target price on Diodes from $56.00 to $72.00 and gave the company a “neutral” rating in a report on Friday, May 10th. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $74.20.

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.