New York State Common Retirement Fund Increases Stock Holdings in Diodes Incorporated (NASDAQ:DIOD)

New York State Common Retirement Fund grew its position in Diodes Incorporated (NASDAQ:DIOD - Free Report) by 18.5% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 243,396 shares of the semiconductor company's stock after purchasing an additional 38,008 shares during the quarter. New York State Common Retirement Fund owned approximately 0.53% of Diodes worth $19,598,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of DIOD. NBC Securities Inc. bought a new position in Diodes during the third quarter valued at about $59,000. Migdal Insurance & Financial Holdings Ltd. raised its stake in Diodes by 17.5% in the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,184 shares of the semiconductor company's stock valued at $93,000 after purchasing an additional 176 shares in the last quarter. Exchange Traded Concepts LLC purchased a new stake in Diodes in the third quarter valued at approximately $113,000. Meeder Asset Management Inc. purchased a new stake in Diodes in the fourth quarter valued at approximately $143,000. Finally, Signaturefd LLC raised its stake in 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 purchasing an additional 167 shares in the last quarter. 99.23% of the stock is owned by institutional investors.

Diodes Stock Up 1.9 %

Shares of Diodes stock traded up $1.38 during trading on Friday, hitting $72.68. 266,007 shares of the stock traded hands, compared to its average volume of 289,100. The firm has a market cap of $3.36 billion, a P/E ratio of 14.80 and a beta of 1.46. The company has a current ratio of 3.02, a quick ratio of 2.03 and a debt-to-equity ratio of 0.01. Diodes Incorporated has a 52-week low of $60.00 and a 52-week high of $97.37. The stock's fifty day simple moving average is $68.72 and its 200 day simple moving average is $70.58.

Diodes (NASDAQ:DIOD - Get Free Report) last posted its earnings results on Tuesday, February 6th. The semiconductor company reported $0.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.47 by $0.04. The company had revenue of $322.70 million for the quarter, compared to analyst estimates of $324.76 million. Diodes had a return on equity of 12.79% and a net margin of 13.67%. The firm's quarterly revenue was down 35.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.73 earnings per share. On average, equities analysts predict that Diodes Incorporated will post 2.55 earnings per share for the current fiscal year.

Insider Buying and Selling at Diodes

In other news, CEO Keh Shew Lu sold 1,500 shares of the business's stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $68.06, for a total value of $102,090.00. Following the completion of the sale, the chief executive officer now directly owns 281,992 shares in the company, valued at $19,192,375.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CFO Brett R. Whitmire sold 3,400 shares of the firm's stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $67.30, for a total transaction of $228,820.00. Following the sale, the chief financial officer now owns 48,265 shares of the company's stock, valued at approximately $3,248,234.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Keh Shew Lu sold 1,500 shares of Diodes stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $68.06, for a total value of $102,090.00. Following the transaction, the chief executive officer now directly owns 281,992 shares in the company, valued at approximately $19,192,375.52. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 25,900 shares of company stock valued at $1,774,570. 2.20% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. TD Cowen lifted their price target on shares of Diodes from $72.00 to $85.00 and gave the company an "outperform" rating in a report on Wednesday, February 7th. Wells Fargo & Company reduced 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 report on Wednesday, February 7th. Finally, Truist Financial reduced their price target on shares of Diodes from $78.00 to $67.00 and set a "hold" rating for the company in a research report on Wednesday, February 7th. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $72.40.

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.