NFJ Investment Group LLC Cuts Position in Diodes Incorporated (NASDAQ:DIOD)

NFJ Investment Group LLC cut its position in Diodes Incorporated (NASDAQ:DIOD) by 4.5% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 38,949 shares of the semiconductor company’s stock after selling 1,821 shares during the period. NFJ Investment Group LLC owned 0.08% of Diodes worth $2,496,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of DIOD. GAMMA Investing LLC raised its stake in Diodes by 66.5% in the second quarter. GAMMA Investing LLC now owns 453 shares of the semiconductor company’s stock valued at $33,000 after buying an additional 181 shares in the last quarter. SummerHaven Investment Management LLC boosted its holdings in Diodes by 2.7% in the second quarter. SummerHaven Investment Management LLC now owns 8,101 shares of the semiconductor company’s stock valued at $583,000 after purchasing an additional 210 shares in the last quarter. Arizona State Retirement System increased its stake in Diodes by 1.9% in the second quarter. Arizona State Retirement System now owns 12,861 shares of the semiconductor company’s stock valued at $925,000 after purchasing an additional 236 shares during the last quarter. Azzad Asset Management Inc. ADV raised its holdings in Diodes by 2.5% during the second quarter. Azzad Asset Management Inc. ADV now owns 10,115 shares of the semiconductor company’s stock worth $728,000 after purchasing an additional 250 shares in the last quarter. Finally, Oak Associates Ltd. OH lifted its position in shares of Diodes by 0.5% during the 2nd quarter. Oak Associates Ltd. OH now owns 54,757 shares of the semiconductor company’s stock worth $3,939,000 after buying an additional 284 shares during the last quarter. 99.23% of the stock is currently owned by institutional investors and hedge funds.

Diodes Price Performance

Diodes stock opened at $63.65 on Wednesday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.21 and a current ratio of 3.58. Diodes Incorporated has a one year low of $52.71 and a one year high of $86.74. The company has a market cap of $2.95 billion, a P/E ratio of 48.22 and a beta of 1.34. The business has a fifty day moving average of $62.12 and a two-hundred day moving average of $67.80.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on DIOD shares. Benchmark dropped their target price on shares of Diodes from $83.00 to $75.00 and set a “buy” rating on the stock in a research report on Monday, November 11th. Truist Financial cut their target price on Diodes from $69.00 to $62.00 and set a “hold” rating on the stock in a research report on Friday, November 8th. Finally, StockNews.com raised shares of Diodes from a “sell” rating to a “hold” rating in a report 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’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $72.80.

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.