Louisiana State Employees Retirement System Sells 800 Shares of Diodes Incorporated (NASDAQ:DIOD)

Louisiana State Employees Retirement System reduced its holdings in Diodes Incorporated (NASDAQ:DIOD) by 3.4% in the third quarter, HoldingsChannel reports. The firm owned 22,400 shares of the semiconductor company’s stock after selling 800 shares during the period. Louisiana State Employees Retirement System’s holdings in Diodes were worth $1,436,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. GAMMA Investing LLC grew its holdings in Diodes by 66.5% in the second quarter. GAMMA Investing LLC now owns 453 shares of the semiconductor company’s stock worth $33,000 after purchasing an additional 181 shares during the period. EntryPoint Capital LLC bought a new position in shares of Diodes during the 1st quarter worth about $40,000. Innealta Capital LLC acquired a new stake in shares of Diodes in the 2nd quarter valued at about $88,000. EMC Capital Management increased its position in Diodes by 25.8% in the 1st quarter. EMC Capital Management now owns 1,632 shares of the semiconductor company’s stock valued at $115,000 after buying an additional 335 shares in the last quarter. Finally, Hantz Financial Services Inc. acquired a new position in Diodes during the 2nd quarter worth approximately $147,000. 99.23% of the stock is owned by institutional investors and hedge funds.

Diodes Stock Down 4.4 %

Shares of NASDAQ:DIOD opened at $58.48 on Friday. The business’s 50 day moving average is $63.46 and its 200 day moving average is $69.48. Diodes Incorporated has a 12-month low of $58.45 and a 12-month high of $86.74. The stock has a market cap of $2.71 billion, a price-to-earnings ratio of 28.25 and a beta of 1.32. The company has a quick ratio of 2.10, a current ratio of 3.38 and a debt-to-equity ratio of 0.01.

Diodes (NASDAQ:DIOD) last posted its quarterly earnings data on Thursday, August 8th. The semiconductor company reported $0.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.30 by $0.03. The firm had revenue of $319.80 million for the quarter, compared to the consensus estimate of $316.12 million. Diodes had a net margin of 7.12% and a return on equity of 5.76%. The business’s revenue for the quarter was down 31.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.59 EPS. On average, sell-side analysts forecast that Diodes Incorporated will post 1.55 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Diodes news, SVP Emily Yang sold 1,000 shares of Diodes stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $70.48, for a total transaction of $70,480.00. Following the transaction, the senior vice president now owns 59,820 shares of the company’s stock, valued at $4,216,113.60. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CFO Brett R. Whitmire sold 1,900 shares of the stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $69.99, for a total transaction of $132,981.00. Following the completion of the transaction, the chief financial officer now owns 46,365 shares in the company, valued at approximately $3,245,086.35. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Emily Yang sold 1,000 shares of Diodes stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $70.48, for a total transaction of $70,480.00. Following the completion of the sale, the senior vice president now directly owns 59,820 shares in the company, valued at approximately $4,216,113.60. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 24,182 shares of company stock valued at $1,640,921. Corporate insiders own 2.30% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on DIOD shares. Truist Financial reduced their price objective on Diodes from $74.00 to $69.00 and set a “hold” rating for the company in a research note on Friday, August 9th. StockNews.com lowered shares of Diodes from a “hold” rating to a “sell” rating in a research note on Wednesday, August 21st. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company. According to MarketBeat, Diodes has a consensus rating of “Hold” and an average price target of $73.20.

Diodes Company 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.