Strs Ohio Decreases Position in Diodes Incorporated (NASDAQ:DIOD)

Strs Ohio lessened its holdings in Diodes Incorporated (NASDAQ:DIOD) by 38.8% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 9,800 shares of the semiconductor company’s stock after selling 6,200 shares during the period. Strs Ohio’s holdings in Diodes were worth $789,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Outlook Wealth Advisors LLC purchased a new position in Diodes in the 4th quarter valued at approximately $204,000. Louisiana State Employees Retirement System acquired a new stake in shares of Diodes in the 4th quarter valued at $1,852,000. Cerity Partners LLC acquired a new stake in shares of Diodes in the 4th quarter valued at $6,391,000. Meeder Asset Management Inc. acquired a new stake in shares of Diodes in the 4th quarter valued at $143,000. Finally, Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Diodes by 5.3% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 20,707 shares of the semiconductor company’s stock valued at $1,667,000 after purchasing an additional 1,033 shares in the last quarter. Hedge funds and other institutional investors own 99.23% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Diodes Price Performance

Shares of NASDAQ:DIOD opened at $70.90 on Thursday. The company’s fifty day moving average price is $68.58 and its 200 day moving average price is $70.76. 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 3.02 and a quick ratio of 2.03. The firm has a market capitalization of $3.27 billion, a P/E ratio of 14.44 and a beta of 1.46.

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

Insiders Place Their Bets

In other Diodes news, CEO Keh Shew Lu sold 6,000 shares of the firm’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $68.98, for a total transaction of $413,880.00. Following the transaction, the chief executive officer now directly owns 274,492 shares of the company’s stock, valued at approximately $18,934,458.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Diodes news, CEO Keh Shew Lu sold 6,000 shares of the firm’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $68.98, for a total transaction of $413,880.00. Following the transaction, the chief executive officer now directly owns 274,492 shares of the company’s stock, valued at approximately $18,934,458.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Brett R. Whitmire sold 3,400 shares of the firm’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $67.30, for a total transaction of $228,820.00. Following the transaction, the chief financial officer now directly owns 48,265 shares in the company, valued at $3,248,234.50. The disclosure for this sale can be found here. In the last three months, insiders have sold 25,900 shares of company stock valued at $1,774,570. Insiders own 2.60% of the company’s stock.

Diodes Company 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.