Public Sector Pension investment Board trimmed its stake in Diodes Incorporated (NASDAQ:DIOD) by 29.7% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 19,642 shares of the semiconductor company’s stock after selling 8,300 shares during the period. Public Sector Pension investment Board’s holdings in Diodes were worth $472,000 at the end of the most recent reporting period.
Other hedge funds also recently modified their holdings of the company. State of Alaska Department of Revenue raised its stake in shares of Diodes by 79.1% in the 2nd quarter. State of Alaska Department of Revenue now owns 7,542 shares of the semiconductor company’s stock valued at $181,000 after acquiring an additional 3,332 shares in the last quarter. Public Employees Retirement System of Ohio raised its stake in shares of Diodes by 10.1% in the 1st quarter. Public Employees Retirement System of Ohio now owns 8,745 shares of the semiconductor company’s stock valued at $210,000 after acquiring an additional 800 shares in the last quarter. Mason Street Advisors LLC raised its stake in shares of Diodes by 5.7% in the 1st quarter. Mason Street Advisors LLC now owns 8,923 shares of the semiconductor company’s stock valued at $215,000 after acquiring an additional 481 shares in the last quarter. Chicago Equity Partners LLC bought a new position in shares of Diodes in the 2nd quarter valued at approximately $265,000. Finally, Massachusetts Financial Services Co. MA raised its stake in shares of Diodes by 1.2% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 12,325 shares of the semiconductor company’s stock valued at $296,000 after acquiring an additional 148 shares in the last quarter. 73.74% of the stock is currently owned by institutional investors and hedge funds.
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In other news, VP Shiao Kwang Edmund Tang sold 27,877 shares of the stock in a transaction that occurred on Tuesday, October 3rd. The stock was sold at an average price of $30.29, for a total transaction of $844,394.33. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, major shareholder Semiconductor Corp Lite-On sold 116,209 shares of the 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 transaction, the insider now owns 8,045,778 shares in the company, valued at approximately $216,833,717.10. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 604,359 shares of company stock valued at $17,379,650. Insiders own 7.00% of the company’s stock.
Several brokerages have commented on DIOD. Zacks Investment Research downgraded Diodes from a “strong-buy” rating to a “hold” rating in a research report on Tuesday. BidaskClub raised Diodes from a “sell” rating to a “hold” rating in a research report on Monday, July 24th. Cleveland Research downgraded Diodes from a “buy” rating to a “neutral” rating in a research report on Thursday, July 20th. Finally, Sidoti began coverage on Diodes in a research report on Thursday, September 21st. They issued a “neutral” rating and a $32.00 price target on the stock. One analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $30.67.
Diodes Incorporated (DIOD) opened at 31.70 on Wednesday. The company has a market capitalization of $1.56 billion, a P/E ratio of 60.04 and a beta of 1.26. The firm has a 50-day moving average price of $28.54 and a 200 day moving average price of $26.00. Diodes Incorporated has a 12 month low of $19.64 and a 12 month high of $31.95.
Diodes (NASDAQ:DIOD) last released its quarterly earnings data on Tuesday, August 8th. The semiconductor company reported $0.36 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.36. Diodes had a return on equity of 5.64% and a net margin of 2.68%. The company had revenue of $264.20 million during the quarter, compared to analysts’ expectations of $261.15 million. During the same period last year, the firm posted $0.20 earnings per share. The business’s revenue was up 11.8% on a year-over-year basis. Analysts expect that Diodes Incorporated will post $1.28 EPS for the current 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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