California Public Employees Retirement System increased its position in Diodes Inc. (NASDAQ:DIOD) by 9.2% during the second quarter, Holdings Channel reports. The fund owned 82,700 shares of the company’s stock after buying an additional 7,000 shares during the period. California Public Employees Retirement System owned approximately 0.17% of Diodes worth $1,554,000 at the end of the most recent quarter.
Other hedge funds also recently added to or reduced their stakes in the company. Emerald Acquisition Ltd. bought a new stake in Diodes during the second quarter worth $876,000. Swiss National Bank boosted its stake in Diodes by 4.8% in the second quarter. Swiss National Bank now owns 67,400 shares of the company’s stock worth $1,266,000 after buying an additional 3,100 shares during the last quarter. California State Teachers Retirement System boosted its stake in Diodes by 0.6% in the second quarter. California State Teachers Retirement System now owns 79,879 shares of the company’s stock worth $1,501,000 after buying an additional 489 shares during the last quarter. Bank of Montreal Can bought a new stake in Diodes during the second quarter worth $1,458,000. Finally, Foundry Partners LLC boosted its stake in Diodes by 1,061.4% in the second quarter. Foundry Partners LLC now owns 174,155 shares of the company’s stock worth $3,272,000 after buying an additional 159,160 shares during the last quarter. 76.09% of the stock is currently owned by institutional investors.
Shares of Diodes Inc. (NASDAQ:DIOD) remained flat at $21.12 during trading on Monday. 37,643 shares of the company’s stock traded hands. The stock’s 50-day moving average price is $20.63 and its 200 day moving average price is $19.33. The stock has a market cap of $1.03 billion, a P/E ratio of 491.16 and a beta of 1.42. Diodes Inc. has a one year low of $16.58 and a one year high of $25.20.
Diodes (NASDAQ:DIOD) last released its quarterly earnings results on Tuesday, August 9th. The company reported $0.20 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.20. The firm earned $236.60 million during the quarter, compared to analysts’ expectations of $234.92 million. Diodes had a return on equity of 3.39% and a net margin of 0.86%. Diodes’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.34 EPS. On average, equities analysts anticipate that Diodes Inc. will post $0.88 earnings per share for the current year.
Separately, Zacks Investment Research raised shares of Diodes from a “hold” rating to a “strong-buy” rating and set a $20.00 target price on the stock in a report on Tuesday, July 5th.
In other Diodes news, Director John M. Stich sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, September 1st. The stock was sold at an average price of $20.61, for a total value of $103,050.00. Following the completion of the transaction, the director now owns 35,700 shares in the company, valued at approximately $735,777. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 6.70% of the stock is owned by company insiders.
Diodes Company Profile
Diodes Incorporated is a global 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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