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

Norges Bank bought a new stake in Diodes Incorporated (NASDAQ:DIOD) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 550,241 shares of the semiconductor company’s stock, valued at approximately $33,933,000.

Several other institutional investors also recently modified their holdings of DIOD. Smartleaf Asset Management LLC lifted its holdings in 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 buying an additional 522 shares during the period. Quantbot Technologies LP acquired a new position in shares of Diodes in the 4th quarter valued at $79,000. KBC Group NV boosted its position in shares of Diodes by 36.7% in the 4th quarter. KBC Group NV now owns 1,987 shares of the semiconductor company’s stock worth $123,000 after purchasing an additional 533 shares during the last quarter. Xponance Inc. acquired a new stake in shares of Diodes during the fourth quarter worth $203,000. Finally, Verdence Capital Advisors LLC acquired a new stake in shares of Diodes during the fourth quarter worth $250,000. Institutional investors and hedge funds own 99.23% of the company’s stock.

Insider Activity

In other Diodes news, CFO Brett R. Whitmire sold 830 shares of the business’s stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $56.04, for a total value of $46,513.20. Following the sale, the chief financial officer now owns 51,525 shares in the company, valued at approximately $2,887,461. The trade was a 1.59 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, President Gary Yu sold 2,900 shares of the company’s stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $56.04, for a total value of $162,516.00. Following the transaction, the president now directly owns 79,697 shares of the company’s stock, valued at approximately $4,466,219.88. This trade represents a 3.51 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 4,680 shares of company stock worth $262,267 over the last quarter. 2.30% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on DIOD shares. Benchmark reduced their target price on Diodes from $74.00 to $65.00 and set a “buy” rating on the stock in a report on Wednesday, February 12th. Truist Financial decreased their price objective on shares of Diodes from $63.00 to $53.00 and set a “hold” rating for the company in a report on Wednesday, February 12th.

Diodes Stock Performance

DIOD stock opened at $35.10 on Friday. Diodes Incorporated has a 1-year low of $32.93 and a 1-year high of $86.74. The business’s 50-day moving average price is $50.37 and its two-hundred day moving average price is $58.07. The firm has a market cap of $1.63 billion, a PE ratio of 36.95 and a beta of 1.43. The company has a current ratio of 3.26, a quick ratio of 1.99 and a debt-to-equity ratio of 0.01.

Diodes (NASDAQ:DIOD) last released its quarterly earnings data on Tuesday, February 11th. The semiconductor company reported $0.27 earnings per share 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, research analysts forecast that Diodes Incorporated will post 1.82 earnings per share for the current year.

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.