State of New Jersey Common Pension Fund D Has $1.86 Million Stock Holdings in Diodes Incorporated (NASDAQ:DIOD)

State of New Jersey Common Pension Fund D lessened its holdings in Diodes Incorporated (NASDAQ:DIOD) by 36.4% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 25,921 shares of the semiconductor company’s stock after selling 14,811 shares during the period. State of New Jersey Common Pension Fund D owned approximately 0.06% of Diodes worth $1,864,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in DIOD. Norges Bank acquired a new stake in shares of Diodes during the fourth quarter worth approximately $31,240,000. Wells Fargo & Company MN increased its holdings in shares of Diodes by 2.2% during the fourth quarter. Wells Fargo & Company MN now owns 155,572 shares of the semiconductor company’s stock worth $12,527,000 after buying an additional 3,352 shares in the last quarter. Corient Private Wealth LLC acquired a new stake in shares of Diodes during the fourth quarter worth approximately $2,623,000. TD Asset Management Inc increased its holdings in shares of Diodes by 20.2% during the fourth quarter. TD Asset Management Inc now owns 20,800 shares of the semiconductor company’s stock worth $1,675,000 after buying an additional 3,500 shares in the last quarter. Finally, TFO Wealth Partners LLC increased its holdings in shares of Diodes by 22,318.2% during the fourth quarter. TFO Wealth Partners LLC now owns 2,466 shares of the semiconductor company’s stock worth $199,000 after buying an additional 2,455 shares in the last quarter. Institutional investors and hedge funds own 99.23% of the company’s stock.

Diodes Price Performance

Shares of DIOD stock opened at $60.12 on Monday. The firm’s 50 day moving average price is $68.88 and its two-hundred day moving average price is $70.67. The stock has a market cap of $2.77 billion, a PE ratio of 16.38 and a beta of 1.32. Diodes Incorporated has a 52-week low of $58.62 and a 52-week high of $86.74. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.10 and a current ratio of 3.38.

Diodes (NASDAQ:DIOD) last announced its quarterly earnings results on Thursday, August 8th. The semiconductor company reported $0.33 earnings per share for the quarter, topping analysts’ consensus estimates of $0.30 by $0.03. The company 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 business’s quarterly revenue was down 31.5% compared to the same quarter last year. During the same period last year, the firm posted $1.59 earnings per share. As a group, analysts forecast that Diodes Incorporated will post 1.6 EPS for the current year.

Insider Activity at Diodes

In related news, CEO Keh Shew Lu sold 20,010 shares of the business’s stock in a transaction on 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 of the company’s stock, valued at approximately $16,576,587. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO Keh Shew Lu sold 20,010 shares of the business’s stock in a transaction on 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 of the company’s stock, valued at approximately $16,576,587. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Brett R. Whitmire sold 1,900 shares of Diodes stock in a transaction on 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 sale, the chief financial officer now owns 46,365 shares in the company, valued at $3,245,086.35. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 24,182 shares of company stock valued at $1,640,921. 2.30% of the stock is owned by corporate insiders.

Analyst Ratings Changes

DIOD has been the subject of several recent analyst reports. Truist Financial dropped their price objective on shares of Diodes from $74.00 to $69.00 and set a “hold” rating for the company in a report on Friday, August 9th. StockNews.com lowered 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 assigned a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $73.20.

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.