20,300 Shares in Diodes Incorporated $DIOD Acquired by Louisiana State Employees Retirement System

Key Points

• Louisiana State Employees Retirement System opened a new position in Diodes Incorporated, buying 20,300 shares valued at about $1.39 million in the first quarter.
• Diodes posted better-than-expected quarterly results, with EPS of $0.43 versus the $0.35 estimate and revenue of $405.47 million, up 22.1% year over year.
• Recent insider selling included transactions by Emily Yang and Jin Zhao, while analysts currently rate the stock a Moderate Buy with an average price target of $113.

Louisiana State Employees Retirement System acquired a new position in shares of Diodes Incorporated (NASDAQ:DIOD - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 20,300 shares of the semiconductor company's stock, valued at approximately $1,386,000.

Other large investors also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. grew its holdings in shares of Diodes by 49.6% during the third quarter. JPMorgan Chase & Co. now owns 464,429 shares of the semiconductor company's stock valued at $24,712,000 after buying an additional 153,905 shares in the last quarter. Evergreen Capital Management LLC purchased a new stake in Diodes in the 4th quarter worth about $476,000. Bessemer Group Inc. boosted its position in Diodes by 14.5% during the 4th quarter. Bessemer Group Inc. now owns 419,648 shares of the semiconductor company's stock worth $20,707,000 after acquiring an additional 53,039 shares during the period. Tributary Capital Management LLC boosted its position in Diodes by 7.1% during the 4th quarter. Tributary Capital Management LLC now owns 346,023 shares of the semiconductor company's stock worth $17,073,000 after acquiring an additional 22,903 shares during the period. Finally, Vanguard Group Inc. grew its stake in Diodes by 2.8% during the 4th quarter. Vanguard Group Inc. now owns 6,154,859 shares of the semiconductor company's stock valued at $303,681,000 after acquiring an additional 166,603 shares in the last quarter. 99.23% of the stock is owned by institutional investors and hedge funds.

Diodes Stock Performance

Shares of NASDAQ DIOD opened at $96.25 on Friday. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.17 and a quick ratio of 1.97. Diodes Incorporated has a one year low of $42.28 and a one year high of $125.99. The business's 50-day moving average price is $106.38 and its two-hundred day moving average price is $79.18. The company has a market capitalization of $4.42 billion, a P/E ratio of 52.31 and a beta of 1.88.

Diodes (NASDAQ:DIOD - Get Free Report) last posted its quarterly earnings results on Thursday, May 7th. The semiconductor company reported $0.43 earnings per share for the quarter, topping analysts' consensus estimates of $0.35 by $0.08. The company had revenue of $405.47 million during the quarter, compared to the consensus estimate of $396.33 million. Diodes had a return on equity of 3.48% and a net margin of 5.50%.The business's quarterly revenue was up 22.1% on a year-over-year basis. During the same period last year, the business earned $0.19 EPS. Analysts anticipate that Diodes Incorporated will post 2.58 earnings per share for the current fiscal year.

Insider Transactions at Diodes

In related news, SVP Emily Yang sold 3,000 shares of the firm's stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $110.08, for a total transaction of $330,240.00. Following the transaction, the senior vice president owned 61,878 shares of the company's stock, valued at approximately $6,811,530.24. This trade represents a 4.62% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jin Zhao sold 3,689 shares of Diodes stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $106.86, for a total transaction of $394,206.54. Following the completion of the sale, the insider owned 43,531 shares of the company's stock, valued at $4,651,722.66. This trade represents a 7.81% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 70,981 shares of company stock valued at $7,616,906 in the last ninety days. 1.70% of the stock is currently owned by insiders.

Analyst Ratings Changes

DIOD has been the topic of a number of research reports. Robert W. Baird set a $120.00 target price on Diodes in a report on Friday, May 8th. Zacks Research cut shares of Diodes from a "strong-buy" rating to a "hold" rating in a report on Monday, June 15th. Finally, Truist Financial upped their price objective on shares of Diodes from $98.00 to $139.00 and gave the company a "buy" rating in a research note on Friday, May 8th. Three analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $113.00.

Diodes Profile

Diodes Incorporated NASDAQ: DIOD is a global manufacturer and supplier of high‐performance discrete, logic, analog and mixed‐signal semiconductor products. Headquartered in Plano, Texas, the company designs and develops a broad range of discrete components, standard logic functions, power management circuits, interface products and array products. Its portfolio includes rectifiers, MOSFETs, general‐purpose diodes, voltage regulators, comparators, buffers and other building blocks for electronic systems.

Diodes Incorporated serves a variety of end markets such as automotive, computing, communications, consumer electronics, industrial and lighting.

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