Public Sector Pension Investment Board Lowers Stock Holdings in Diodes Incorporated (NASDAQ:DIOD)

Public Sector Pension Investment Board lessened its stake in shares of Diodes Incorporated (NASDAQ:DIOD) by 3.2% in the 3rd quarter, Holdings Channel.com reports. The firm owned 98,305 shares of the semiconductor company’s stock after selling 3,200 shares during the quarter. Public Sector Pension Investment Board’s holdings in Diodes were worth $6,300,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of DIOD. BNP Paribas Financial Markets increased its stake in Diodes by 114.4% in the 3rd quarter. BNP Paribas Financial Markets now owns 48,665 shares of the semiconductor company’s stock valued at $3,119,000 after buying an additional 25,969 shares during the period. FMR LLC increased its stake in shares of Diodes by 19.6% during the third quarter. FMR LLC now owns 5,785,134 shares of the semiconductor company’s stock worth $370,769,000 after acquiring an additional 947,118 shares during the period. The Manufacturers Life Insurance Company raised its holdings in Diodes by 2.6% during the third quarter. The Manufacturers Life Insurance Company now owns 25,799 shares of the semiconductor company’s stock worth $1,653,000 after purchasing an additional 649 shares in the last quarter. Truvestments Capital LLC acquired a new stake in Diodes in the third quarter valued at about $29,000. Finally, Citigroup Inc. boosted its holdings in Diodes by 54.7% in the 3rd quarter. Citigroup Inc. now owns 64,505 shares of the semiconductor company’s stock valued at $4,134,000 after purchasing an additional 22,817 shares in the last quarter. 99.23% of the stock is owned by institutional investors and hedge funds.

Diodes Stock Up 1.1 %

DIOD opened at $65.00 on Friday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.21 and a current ratio of 3.58. The company has a market cap of $3.01 billion, a price-to-earnings ratio of 49.24 and a beta of 1.32. Diodes Incorporated has a one year low of $52.71 and a one year high of $86.74. The business’s fifty day moving average is $61.98 and its two-hundred day moving average is $67.90.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on DIOD. Truist Financial cut their target price on Diodes from $69.00 to $62.00 and set a “hold” rating for the company in a research note on Friday, November 8th. StockNews.com raised Diodes from a “sell” rating to a “hold” rating in a report on Monday, November 11th. Finally, Benchmark lowered their price target on shares of Diodes from $83.00 to $75.00 and set a “buy” rating on the stock in a research note on Monday, November 11th. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $72.80.

Diodes Company 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.