Norges Bank Purchases Shares of 550,241 Diodes Incorporated (NASDAQ:DIOD)

Norges Bank acquired a new position in shares of Diodes Incorporated (NASDAQ:DIOD) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 550,241 shares of the semiconductor company’s stock, valued at approximately $33,933,000. Norges Bank owned 1.19% of Diodes as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also made changes to their positions in the stock. JPMorgan Chase & Co. raised its holdings in Diodes by 34.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 226,742 shares of the semiconductor company’s stock valued at $14,532,000 after acquiring an additional 58,597 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Diodes by 3.6% during the third quarter. Geode Capital Management LLC now owns 1,266,052 shares of the semiconductor company’s stock valued at $81,154,000 after purchasing an additional 43,841 shares during the period. Smartleaf Asset Management LLC raised its stake in shares of Diodes by 198.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 785 shares of the semiconductor company’s stock valued at $48,000 after purchasing an additional 522 shares in the last quarter. Proficio Capital Partners LLC bought a new position in Diodes in the fourth quarter worth $970,000. Finally, Raymond James Financial Inc. acquired a new stake in Diodes during the fourth quarter worth $7,063,000. Institutional investors and hedge funds own 99.23% of the company’s stock.

Analysts Set New Price Targets

DIOD has been the subject of a number of recent research reports. Truist Financial dropped their price objective on shares of Diodes from $63.00 to $53.00 and set a “hold” rating for the company in a research note on Wednesday, February 12th. Benchmark dropped their price target on shares of Diodes from $74.00 to $65.00 and set a “buy” rating for the company in a research report on Wednesday, February 12th.

Diodes Stock Down 5.2 %

Shares of NASDAQ DIOD opened at $35.10 on Friday. Diodes Incorporated has a 52-week low of $32.93 and a 52-week high of $86.74. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.99 and a current ratio of 3.26. The business has a fifty day moving average of $50.37 and a two-hundred day moving average of $58.07. The stock has a market cap of $1.63 billion, a PE ratio of 36.95 and a beta of 1.43.

Diodes (NASDAQ:DIOD) last announced its quarterly earnings results on Tuesday, February 11th. The semiconductor company reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.54 by ($0.27). Diodes had a net margin of 3.36% and a return on equity of 3.28%. As a group, equities research analysts expect that Diodes Incorporated will post 1.82 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CFO Brett R. Whitmire sold 830 shares of the company’s stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $56.04, for a total transaction of $46,513.20. Following the transaction, the chief financial officer now directly owns 51,525 shares in the company, valued at approximately $2,887,461. This represents a 1.59 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, President Gary Yu sold 2,900 shares of the firm’s stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $56.04, for a total transaction of $162,516.00. Following the completion of the sale, the president now directly owns 79,697 shares of the company’s stock, valued at approximately $4,466,219.88. This represents a 3.51 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 4,680 shares of company stock worth $262,267 in the last three months. Insiders own 2.30% of the company’s stock.

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.