Illinois Municipal Retirement Fund Lowers Stake in Diodes Incorporated (NASDAQ:DIOD)

Illinois Municipal Retirement Fund cut its stake in Diodes Incorporated (NASDAQ:DIOD) by 1.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 26,302 shares of the semiconductor company’s stock after selling 277 shares during the period. Illinois Municipal Retirement Fund owned about 0.06% of Diodes worth $2,118,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. NBC Securities Inc. bought a new position in Diodes during the 3rd quarter worth about $59,000. Migdal Insurance & Financial Holdings Ltd. increased its holdings in Diodes by 17.5% during the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,184 shares of the semiconductor company’s stock valued at $93,000 after buying an additional 176 shares during the period. Exchange Traded Concepts LLC bought a new position in Diodes in the third quarter worth approximately $113,000. Meeder Asset Management Inc. purchased a new stake in Diodes during the fourth quarter worth $143,000. Finally, Signaturefd LLC boosted its position in Diodes by 9.0% during the 3rd quarter. Signaturefd LLC now owns 2,018 shares of the semiconductor company’s stock valued at $159,000 after acquiring an additional 167 shares in the last quarter. Institutional investors own 99.23% of the company’s stock.

Insider Activity at Diodes

In related news, CEO Keh Shew Lu sold 6,000 shares of Diodes stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $68.98, for a total value of $413,880.00. Following the completion of the transaction, the chief executive officer now owns 274,492 shares in the company, valued at approximately $18,934,458.16. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, CFO Brett R. Whitmire sold 3,400 shares of Diodes stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $67.30, for a total value of $228,820.00. Following the sale, the chief financial officer now owns 48,265 shares in the company, valued at $3,248,234.50. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Keh Shew Lu sold 6,000 shares of the stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $68.98, for a total value of $413,880.00. Following the completion of the transaction, the chief executive officer now owns 274,492 shares in the company, valued at approximately $18,934,458.16. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 25,900 shares of company stock worth $1,774,570. 2.20% of the stock is owned by company insiders.

Diodes Stock Up 0.6 %

NASDAQ:DIOD opened at $71.30 on Friday. Diodes Incorporated has a 1-year low of $60.00 and a 1-year high of $97.37. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.02 and a quick ratio of 2.03. The firm has a market capitalization of $3.29 billion, a P/E ratio of 14.52 and a beta of 1.46. The company’s fifty day moving average price is $68.62 and its 200-day moving average price is $70.77.

Diodes (NASDAQ:DIOD) last posted its earnings results on Tuesday, February 6th. The semiconductor company reported $0.51 EPS for the quarter, topping the consensus estimate of $0.47 by $0.04. Diodes had a return on equity of 12.79% and a net margin of 13.67%. The firm had revenue of $322.70 million for the quarter, compared to analyst estimates of $324.76 million. During the same period last year, the company earned $1.73 earnings per share. Diodes’s revenue for the quarter was down 35.0% compared to the same quarter last year. As a group, equities research analysts anticipate that Diodes Incorporated will post 2.55 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. TD Cowen lifted their target price on Diodes from $72.00 to $85.00 and gave the company an “outperform” rating in a research note on Wednesday, February 7th. Truist Financial dropped their target price on Diodes from $78.00 to $67.00 and set a “hold” rating on the stock in a research note on Wednesday, February 7th. Finally, Wells Fargo & Company decreased their price target on Diodes from $80.00 to $70.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 7th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Diodes currently has an average rating of “Hold” and an average price target of $72.40.

About Diodes

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.