State of Alaska Department of Revenue Lowers Holdings in Diodes Incorporated (NASDAQ:DIOD)

State of Alaska Department of Revenue reduced its stake in Diodes Incorporated (NASDAQ:DIOD) by 2.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 26,440 shares of the semiconductor company’s stock after selling 640 shares during the period. State of Alaska Department of Revenue’s holdings in Diodes were worth $1,694,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. GAMMA Investing LLC raised its holdings in Diodes by 66.5% in the 2nd quarter. GAMMA Investing LLC now owns 453 shares of the semiconductor company’s stock worth $33,000 after acquiring an additional 181 shares during the last quarter. SummerHaven Investment Management LLC lifted its holdings in shares of Diodes by 2.7% during the second quarter. SummerHaven Investment Management LLC now owns 8,101 shares of the semiconductor company’s stock valued at $583,000 after purchasing an additional 210 shares in the last quarter. O Shaughnessy Asset Management LLC boosted its position in shares of Diodes by 5.6% during the first quarter. O Shaughnessy Asset Management LLC now owns 4,245 shares of the semiconductor company’s stock valued at $299,000 after buying an additional 224 shares during the last quarter. Arizona State Retirement System increased its holdings in Diodes by 1.9% in the 2nd quarter. Arizona State Retirement System now owns 12,861 shares of the semiconductor company’s stock worth $925,000 after buying an additional 236 shares in the last quarter. Finally, Azzad Asset Management Inc. ADV increased its holdings in Diodes by 2.5% in the 2nd quarter. Azzad Asset Management Inc. ADV now owns 10,115 shares of the semiconductor company’s stock worth $728,000 after buying an additional 250 shares in the last quarter. 99.23% of the stock is owned by hedge funds and other institutional investors.

Diodes Stock Performance

DIOD opened at $60.16 on Friday. The company’s 50 day moving average is $63.24 and its 200 day moving average is $69.43. The company has a current ratio of 3.38, a quick ratio of 2.10 and a debt-to-equity ratio of 0.01. The company has a market cap of $2.79 billion, a price-to-earnings ratio of 29.06 and a beta of 1.32. Diodes Incorporated has a 12-month low of $58.44 and a 12-month high of $86.74.

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

Insider Buying and Selling at Diodes

In other news, CEO Keh Shew Lu sold 20,010 shares of the firm’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $67.25, for a total value of $1,345,672.50. Following the transaction, the chief executive officer now owns 246,492 shares of the company’s stock, valued at $16,576,587. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Diodes news, SVP Emily Yang sold 1,272 shares of the stock in a transaction on Monday, August 26th. The stock was sold at an average price of $72.16, for a total value of $91,787.52. Following the completion of the sale, the senior vice president now owns 29,028 shares in the company, valued at approximately $2,094,660.48. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Keh Shew Lu sold 20,010 shares of the firm’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $67.25, for a total value of $1,345,672.50. Following the sale, the chief executive officer now directly owns 246,492 shares in the company, valued at approximately $16,576,587. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 24,182 shares of company stock valued at $1,640,921. Company insiders own 2.30% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on DIOD shares. Truist Financial dropped their price target on shares of Diodes from $74.00 to $69.00 and set a “hold” rating on the stock in a report on Friday, August 9th. StockNews.com cut shares of Diodes from a “hold” rating to a “sell” rating in a report on Wednesday, August 21st. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $73.20.

Diodes 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.