Healthcare of Ontario Pension Plan Trust Fund Lowers Stake in Diodes Incorporated $DIOD

Key Points

• Healthcare of Ontario Pension Plan Trust Fund reduced its Diodes stake by 78% in the first quarter, selling 43,503 shares and retaining 12,286 shares valued at approximately $839,000. Institutional investors and hedge funds collectively own 99.23% of the company.
• Diodes beat quarterly expectations, reporting $0.43 EPS versus the $0.35 consensus and revenue of $405.47 million, up 22.1% year over year. Analysts expect $2.58 in full-year EPS.
• Analyst sentiment remains positive overall, with a “Moderate Buy” consensus and an average price target of $113; however, company insiders sold 70,981 shares worth about $7.62 million over the past 90 days.

Healthcare of Ontario Pension Plan Trust Fund cut its position in shares of Diodes Incorporated (NASDAQ:DIOD - Free Report) by 78.0% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 12,286 shares of the semiconductor company's stock after selling 43,503 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund's holdings in Diodes were worth $839,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the company. EverSource Wealth Advisors LLC grew its holdings in shares of Diodes by 77.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 470 shares of the semiconductor company's stock worth $25,000 after purchasing an additional 205 shares during the period. Geneos Wealth Management Inc. purchased a new position in Diodes in the second quarter valued at approximately $30,000. Farther Finance Advisors LLC raised its holdings in Diodes by 51.4% in the fourth quarter. Farther Finance Advisors LLC now owns 589 shares of the semiconductor company's stock valued at $29,000 after buying an additional 200 shares during the period. Quarry LP acquired a new position in Diodes during the third quarter valued at approximately $39,000. Finally, Kestra Advisory Services LLC acquired a new position in Diodes during the fourth quarter valued at approximately $40,000. 99.23% of the stock is owned by institutional investors and hedge funds.

Diodes Price Performance

NASDAQ DIOD opened at $82.32 on Monday. The company has a quick ratio of 1.97, a current ratio of 3.17 and a debt-to-equity ratio of 0.01. Diodes Incorporated has a fifty-two week low of $42.28 and a fifty-two week high of $125.99. The business has a 50 day moving average price of $100.95 and a two-hundred day moving average price of $84.90. The stock has a market cap of $3.78 billion, a PE ratio of 44.74 and a beta of 1.91.

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

Insider Buying and Selling at Diodes

In other Diodes news, SVP Andy Tsong sold 1,582 shares of the business's stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $106.95, for a total value of $169,194.90. Following the transaction, the senior vice president owned 48,170 shares in the company, valued at $5,151,781.50. The trade was a 3.18% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Gary Yu sold 3,632 shares of the company's stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $110.08, for a total transaction of $399,810.56. Following the completion of the transaction, the chief executive officer directly owned 108,147 shares of the company's stock, valued at approximately $11,904,821.76. The trade was a 3.25% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 70,981 shares of company stock worth $7,616,906. 1.70% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on DIOD shares. Truist Financial increased their price objective on shares of Diodes from $98.00 to $139.00 and gave the stock a "buy" rating in a research report on Friday, May 8th. Weiss Ratings restated a "hold (c)" rating on shares of Diodes in a report on Wednesday, July 15th. Zacks Research cut shares of Diodes from a "strong-buy" rating to a "hold" rating in a research report on Monday, June 15th. Finally, Robert W. Baird set a $120.00 price target on Diodes in a report on Friday, May 8th. Three investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $113.00.

Diodes Company 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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