California Public Employees Retirement System Increases Stock Holdings in Diodes Incorporated (NASDAQ:DIOD)

Posted by Defense World Staff on May 17th, 2023

California Public Employees Retirement System lifted its stake in Diodes Incorporated (NASDAQ:DIOD – Get Rating) by 1.6% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 106,851 shares of the semiconductor company’s stock after purchasing an additional 1,682 shares during the quarter. California Public Employees Retirement System owned about 0.23% of Diodes worth $8,136,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Victory Capital Management Inc. lifted its stake in shares of Diodes by 308.6% during the 3rd quarter. Victory Capital Management Inc. now owns 434,549 shares of the semiconductor company’s stock worth $28,207,000 after acquiring an additional 328,196 shares during the last quarter. Channing Capital Management LLC lifted its stake in shares of Diodes by 83.6% during the 3rd quarter. Channing Capital Management LLC now owns 671,654 shares of the semiconductor company’s stock worth $43,597,000 after acquiring an additional 305,781 shares during the last quarter. Fuller & Thaler Asset Management Inc. lifted its stake in shares of Diodes by 102.3% during the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 578,250 shares of the semiconductor company’s stock worth $50,302,000 after acquiring an additional 292,450 shares during the last quarter. New York State Common Retirement Fund lifted its stake in shares of Diodes by 67.4% during the 4th quarter. New York State Common Retirement Fund now owns 473,151 shares of the semiconductor company’s stock worth $36,026,000 after acquiring an additional 190,468 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its stake in shares of Diodes by 266.9% during the 1st quarter. Renaissance Technologies LLC now owns 212,651 shares of the semiconductor company’s stock worth $18,499,000 after acquiring an additional 154,700 shares during the last quarter. Hedge funds and other institutional investors own 96.24% of the company’s stock.

Diodes Price Performance

Shares of DIOD stock opened at $90.00 on Wednesday. Diodes Incorporated has a twelve month low of $58.52 and a twelve month high of $97.45. The stock has a market capitalization of $4.11 billion, a price-to-earnings ratio of 12.55 and a beta of 1.48. The stock has a fifty day simple moving average of $86.61 and a two-hundred day simple moving average of $86.01. The company has a current ratio of 2.69, a quick ratio of 1.85 and a debt-to-equity ratio of 0.09.

Diodes (NASDAQ:DIOD – Get Rating) last issued its quarterly earnings data on Tuesday, May 9th. The semiconductor company reported $1.59 earnings per share for the quarter, topping analysts’ consensus estimates of $1.46 by $0.13. The firm had revenue of $467.24 million during the quarter, compared to analysts’ expectations of $467.03 million. Diodes had a return on equity of 23.28% and a net margin of 16.56%. The firm’s quarterly revenue was down 3.1% on a year-over-year basis. During the same period in the prior year, the business posted $1.75 EPS. On average, analysts predict that Diodes Incorporated will post 6.41 EPS for the current fiscal year.

Insider Buying and Selling

In related news, SVP Emily Yang sold 1,000 shares of the company’s stock in a transaction on Thursday, February 16th. The stock was sold at an average price of $95.12, for a total transaction of $95,120.00. Following the completion of the sale, the senior vice president now directly owns 44,542 shares in the company, valued at approximately $4,236,835.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Michael R. Giordano sold 10,000 shares of the company’s stock in a transaction on Thursday, March 16th. The stock was sold at an average price of $90.00, for a total transaction of $900,000.00. Following the completion of the sale, the director now directly owns 78,971 shares in the company, valued at approximately $7,107,390. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Emily Yang sold 1,000 shares of the stock in a transaction dated Thursday, February 16th. The shares were sold at an average price of $95.12, for a total value of $95,120.00. Following the completion of the sale, the senior vice president now owns 44,542 shares of the company’s stock, valued at $4,236,835.04. The disclosure for this sale can be found here. Insiders sold 23,977 shares of company stock worth $2,168,590 in the last three months. 2.60% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on DIOD shares. Robert W. Baird raised their price target on Diodes from $100.00 to $120.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 7th. StockNews.com began coverage on Diodes in a research report on Thursday, March 16th. They set a “buy” rating for the company. Benchmark upped their target price on Diodes from $90.00 to $105.00 and gave the stock a “buy” rating in a report on Thursday, February 9th. Wells Fargo & Company lowered their target price on Diodes from $95.00 to $85.00 in a report on Wednesday, May 10th. Finally, Cowen upped their target price on Diodes from $95.00 to $110.00 and gave the stock an “outperform” rating in a report on Tuesday, February 7th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $103.83.

About Diodes

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Diodes, Inc manufactures and supplies application-specific standard products within the broad discrete, logic, analog, and mixed-signal semiconductor markets. The firm offers diodes, rectifiers, transistors, MOSFETs, protection devices, functional specific arrays, single gate, dual gate and standard logic, amplifiers and comparators, Hall-effect, and temperature sensors.