Meeder Asset Management Inc. Invests $143,000 in Diodes Incorporated (NASDAQ:DIOD)

Meeder Asset Management Inc. bought a new stake in Diodes Incorporated (NASDAQ:DIOD) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 1,775 shares of the semiconductor company’s stock, valued at approximately $143,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Norges Bank purchased a new stake in Diodes in the fourth quarter valued at about $30,756,000. Fuller & Thaler Asset Management Inc. raised its position in shares of Diodes by 102.3% in the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 578,250 shares of the semiconductor company’s stock valued at $50,302,000 after purchasing an additional 292,450 shares during the last quarter. Global Alpha Capital Management Ltd. acquired a new stake in Diodes in the 3rd quarter worth approximately $13,866,000. First Trust Advisors LP grew its position in Diodes by 272.2% during the 1st quarter. First Trust Advisors LP now owns 232,230 shares of the semiconductor company’s stock worth $21,542,000 after purchasing an additional 169,840 shares during the last quarter. Finally, Renaissance Technologies LLC increased its stake in Diodes by 266.9% during the 1st quarter. Renaissance Technologies LLC now owns 212,651 shares of the semiconductor company’s stock valued at $18,499,000 after purchasing an additional 154,700 shares in the last quarter. Hedge funds and other institutional investors own 99.23% of the company’s stock.

Diodes Stock Performance

NASDAQ DIOD opened at $72.42 on Wednesday. The firm has a market capitalization of $3.33 billion, a P/E ratio of 14.75 and a beta of 1.47. The stock has a 50-day simple moving average of $68.43 and a two-hundred day simple moving average of $71.46. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.03 and a current ratio of 3.02. Diodes Incorporated has a fifty-two week low of $60.00 and a fifty-two week high of $97.37.

Diodes (NASDAQ:DIOD) last announced its quarterly earnings results on Tuesday, February 6th. The semiconductor company reported $0.51 earnings per share for the quarter, beating the consensus estimate of $0.47 by $0.04. Diodes had a return on equity of 12.79% and a net margin of 13.67%. The company had revenue of $322.70 million during the quarter, compared to analysts’ expectations of $324.76 million. During the same period last year, the business earned $1.73 earnings per share. Diodes’s quarterly revenue was down 35.0% on a year-over-year basis. On average, equities analysts forecast that Diodes Incorporated will post 2.55 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on DIOD shares. Wells Fargo & Company lowered their price objective on shares of Diodes from $80.00 to $70.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 7th. TD Cowen increased their price objective on Diodes from $72.00 to $85.00 and gave the company an “outperform” rating in a report on Wednesday, February 7th. Finally, Truist Financial decreased their target price on Diodes from $78.00 to $67.00 and set a “hold” rating for the company in a report on Wednesday, February 7th. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $72.40.

Insider Activity

In related news, CEO Keh Shew Lu sold 6,000 shares of the firm’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $68.98, for a total transaction of $413,880.00. Following the sale, the chief executive officer now owns 274,492 shares in the company, valued at $18,934,458.16. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, CEO Keh Shew Lu sold 6,000 shares of the company’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $68.98, for a total value of $413,880.00. Following the completion of the transaction, the chief executive officer now owns 274,492 shares of the company’s stock, valued at approximately $18,934,458.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Brett R. Whitmire sold 3,400 shares of the stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $67.30, for a total value of $228,820.00. Following the transaction, the chief financial officer now owns 48,265 shares in the company, valued at approximately $3,248,234.50. The disclosure for this sale can be found here. Insiders sold a total of 25,900 shares of company stock valued at $1,774,570 in the last three months. 2.60% of the stock is currently owned by corporate insiders.

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.