Norges Bank Invests $33.93 Million in Diodes Incorporated (NASDAQ:DIOD)

Norges Bank bought a new position in Diodes Incorporated (NASDAQ:DIOD - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 550,241 shares of the semiconductor company's stock, valued at approximately $33,933,000. Norges Bank owned approximately 1.19% of Diodes at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of DIOD. Victory Capital Management Inc. increased its holdings in Diodes by 9.4% during the 4th quarter. Victory Capital Management Inc. now owns 1,907,509 shares of the semiconductor company's stock valued at $117,636,000 after purchasing an additional 163,374 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of Diodes by 55.9% in the 4th quarter. JPMorgan Chase & Co. now owns 353,595 shares of the semiconductor company's stock worth $21,806,000 after purchasing an additional 126,853 shares during the last quarter. Raymond James Financial Inc. bought a new position in shares of Diodes in the 4th quarter worth $7,063,000. Vanguard Group Inc. boosted its position in shares of Diodes by 1.8% in the 4th quarter. Vanguard Group Inc. now owns 5,910,766 shares of the semiconductor company's stock worth $364,517,000 after purchasing an additional 102,263 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its position in shares of Diodes by 50.1% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 257,633 shares of the semiconductor company's stock worth $15,795,000 after purchasing an additional 85,943 shares during the last quarter. 99.23% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other 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 transaction of $46,513.20. Following the completion of the sale, the chief financial officer now owns 51,525 shares in the company, valued at $2,887,461. The trade was a 1.59 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, President Gary Yu sold 2,900 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 $162,516.00. Following the sale, the president now 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. Over the last 90 days, insiders sold 4,680 shares of company stock worth $262,267. Company insiders own 2.30% of the company's stock.

Wall Street Analyst Weigh In

DIOD has been the topic of several recent analyst reports. Baird R W upgraded Diodes from a "hold" rating to a "strong-buy" rating in a report on Monday. Robert W. Baird raised Diodes from a "neutral" rating to an "outperform" rating and set a $50.00 price target on the stock in a research note on Monday. Truist Financial dropped their price target on Diodes from $63.00 to $53.00 and set a "hold" rating on the stock in a research note on Wednesday, February 12th. Finally, Benchmark dropped their price target on Diodes from $74.00 to $65.00 and set a "buy" rating on the stock in a research note on Wednesday, February 12th. Two research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $56.00.

Diodes Stock Down 10.7 %

Shares of NASDAQ:DIOD traded down $4.24 during midday trading on Thursday, reaching $35.29. The company had a trading volume of 88,776 shares, compared to its average volume of 541,146. The company has a quick ratio of 1.99, a current ratio of 3.26 and a debt-to-equity ratio of 0.01. The business's 50 day moving average price is $48.22 and its 200 day moving average price is $57.28. The stock has a market cap of $1.64 billion, a PE ratio of 37.15 and a beta of 1.43. Diodes Incorporated has a 1-year low of $32.93 and a 1-year high of $86.74.

Diodes (NASDAQ:DIOD - Get Free Report) last posted its quarterly earnings results on Tuesday, February 11th. The semiconductor company reported $0.27 EPS for the quarter, missing analysts' consensus estimates of $0.54 by ($0.27). Diodes had a return on equity of 3.28% and a net margin of 3.36%. Research analysts forecast that Diodes Incorporated will post 1.82 EPS for the current fiscal year.

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.