Arizona State Retirement System increased its position in shares of Diodes Incorporated (NASDAQ:DIOD) by 0.5% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 19,975 shares of the semiconductor company’s stock after purchasing an additional 100 shares during the period. Arizona State Retirement System’s holdings in Diodes were worth $480,000 as of its most recent SEC filing.
A number of other institutional investors also recently modified their holdings of DIOD. Bank of America Corp DE grew its position in shares of Diodes by 27.7% in the first quarter. Bank of America Corp DE now owns 167,123 shares of the semiconductor company’s stock valued at $4,020,000 after purchasing an additional 36,263 shares during the last quarter. Morgan Stanley boosted its position in Diodes by 3.2% during the first quarter. Morgan Stanley now owns 175,221 shares of the semiconductor company’s stock worth $4,213,000 after acquiring an additional 5,464 shares during the last quarter. Highbridge Capital Management LLC acquired a new stake in Diodes during the first quarter worth approximately $681,000. BlackRock Inc. boosted its position in Diodes by 50,610.4% during the first quarter. BlackRock Inc. now owns 4,634,934 shares of the semiconductor company’s stock worth $111,471,000 after acquiring an additional 4,625,794 shares during the last quarter. Finally, Russell Investments Group Ltd. boosted its position in Diodes by 75.7% during the second quarter. Russell Investments Group Ltd. now owns 61,043 shares of the semiconductor company’s stock worth $1,467,000 after acquiring an additional 26,306 shares during the last quarter. 73.74% of the stock is owned by institutional investors.
In related news, major shareholder Semiconductor Corp Lite-On sold 116,209 shares of the company’s stock in a transaction that occurred on Wednesday, August 16th. The stock was sold at an average price of $26.95, for a total value of $3,131,832.55. Following the sale, the insider now directly owns 8,045,778 shares in the company, valued at $216,833,717.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Richard Dallas White sold 2,750 shares of the company’s stock in a transaction that occurred on Wednesday, July 5th. The shares were sold at an average price of $23.81, for a total value of $65,477.50. Following the completion of the sale, the chief financial officer now owns 93,621 shares in the company, valued at $2,229,116.01. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 310,508 shares of company stock worth $8,369,544. Company insiders own 7.00% of the company’s stock.
A number of equities analysts have recently commented on DIOD shares. Sidoti initiated coverage on shares of Diodes in a research note on Thursday. They set a “neutral” rating and a $32.00 price target on the stock. Cleveland Research lowered shares of Diodes from a “buy” rating to a “neutral” rating in a report on Thursday, July 20th. Zacks Investment Research raised shares of Diodes from a “hold” rating to a “buy” rating and set a $30.00 price objective for the company in a report on Friday, August 11th. BidaskClub raised shares of Diodes from a “sell” rating to a “hold” rating in a research note on Monday, July 24th. Finally, Robert W. Baird restated an “outperform” rating and set a $30.00 price target on shares of Diodes in a research report on Friday, June 9th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the stock. Diodes presently has an average rating of “Hold” and an average price target of $30.67.
Diodes Incorporated (DIOD) traded up 1.27% during mid-day trading on Friday, hitting $28.81. 184,236 shares of the company were exchanged. The stock has a market cap of $1.41 billion, a P/E ratio of 54.56 and a beta of 1.22. Diodes Incorporated has a 12-month low of $19.64 and a 12-month high of $28.97. The company has a 50 day moving average of $27.17 and a 200 day moving average of $25.38.
Diodes (NASDAQ:DIOD) last released its quarterly earnings results on Tuesday, August 8th. The semiconductor company reported $0.36 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.36. The company had revenue of $264.20 million for the quarter, compared to analysts’ expectations of $261.15 million. Diodes had a return on equity of 5.64% and a net margin of 2.68%. The business’s quarterly revenue was up 11.8% compared to the same quarter last year. During the same period in the previous year, the business posted $0.20 earnings per share. On average, equities research analysts expect that Diodes Incorporated will post $1.28 earnings per share for the current fiscal year.
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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