California Public Employees Retirement System decreased its position in shares of Diodes Incorporated (NASDAQ:DIOD) by 40.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 55,400 shares of the semiconductor company’s stock after selling 36,900 shares during the period. California Public Employees Retirement System owned about 0.11% of Diodes worth $1,332,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. State of Alaska Department of Revenue raised its position in Diodes by 1.0% in the first quarter. State of Alaska Department of Revenue now owns 4,210 shares of the semiconductor company’s stock worth $101,000 after buying an additional 40 shares during the last quarter. Mason Street Advisors LLC raised its position in Diodes by 5.7% in the first quarter. Mason Street Advisors LLC now owns 8,923 shares of the semiconductor company’s stock worth $215,000 after buying an additional 481 shares during the last quarter. Airain ltd purchased a new position in Diodes during the first quarter worth about $247,000. Stevens Capital Management LP purchased a new position in Diodes during the first quarter worth about $292,000. Finally, Dynamic Technology Lab Private Ltd bought a new stake in shares of Diodes during the first quarter worth $318,000. 74.16% of the stock is owned by hedge funds and other institutional investors.
Shares of Diodes Incorporated (NASDAQ DIOD) opened at 26.48 on Friday. The stock has a 50 day moving average of $26.01 and a 200-day moving average of $24.99. Diodes Incorporated has a 52 week low of $19.39 and a 52 week high of $27.51. The firm has a market capitalization of $1.30 billion, a price-to-earnings ratio of 50.15 and a beta of 1.22.
Diodes (NASDAQ:DIOD) last announced its earnings results on Tuesday, August 8th. The semiconductor company reported $0.36 EPS for the quarter, hitting the consensus estimate of $0.36. Diodes had a net margin of 2.68% and a return on equity of 5.64%. The firm had revenue of $264.20 million for the quarter, compared to the consensus estimate of $261.15 million. During the same period last year, the company posted $0.20 EPS. The business’s quarterly revenue was up 11.8% on a year-over-year basis. Analysts expect that Diodes Incorporated will post $1.28 earnings per share for the current year.
A number of analysts have recently weighed in on the stock. BidaskClub raised shares of Diodes from a “sell” rating to a “hold” rating in a research note on Monday, July 24th. Robert W. Baird reaffirmed an “outperform” rating and issued a $30.00 price target on shares of Diodes in a research note on Friday, June 9th. Zacks Investment Research raised shares of Diodes from a “hold” rating to a “buy” rating and set a $29.00 price target for the company in a research note on Friday, May 12th. Finally, Cleveland Research lowered shares of Diodes from a “buy” rating to a “neutral” rating in a research note on Thursday, July 20th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $30.00.
In other Diodes news, major shareholder Semiconductor Corp Lite-On sold 116,209 shares of Diodes stock in a transaction on Wednesday, August 16th. The shares were sold at an average price of $26.95, for a total transaction of $3,131,832.55. Following the completion of the transaction, the insider now directly owns 8,045,778 shares of the company’s stock, valued at $216,833,717.10. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Richard Dallas White sold 15,750 shares of Diodes stock in a transaction on Tuesday, May 30th. The stock was sold at an average price of $25.89, for a total transaction of $407,767.50. Following the transaction, the chief financial officer now directly owns 96,371 shares of the company’s stock, valued at $2,495,045.19. The disclosure for this sale can be found here. Insiders sold 322,706 shares of company stock worth $8,501,516 over the last quarter. 6.70% of the stock is owned by corporate insiders.
Diodes Incorporated is a manufacturer and supplier of application-specific standard products within the discrete, logic, analog and mixed-signal semiconductor markets, serving the consumer electronics, computing, communications, industrial and automotive markets. The Company’s products include diodes; rectifiers; transistors; metal-oxide semiconductor field-effect transistors (MOSFETs); protection devices; amplifiers and comparators; Hall-effect and temperature sensors, and power management devices, including light emitting diode (LED) drivers, alternating current (AC)-direct current (DC) and DC-DC switching, linear voltage regulators and voltage references, along with special function devices, such as universal serial bus (USB) power switches, load switches, voltage supervisors and motor controllers.
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