Diodes (NASDAQ:DIOD) Price Target Cut to $62.00 by Analysts at Truist Financial

by · The Markets Daily

Diodes (NASDAQ:DIOD – Free Report) had its target price decreased by Truist Financial from $69.00 to $62.00 in a research note issued to investors on Friday,Benzinga reports. Truist Financial currently has a hold rating on the semiconductor company’s stock.

Separately, StockNews.com cut shares of Diodes from a “hold” rating to a “sell” rating in a report on Wednesday, August 21st. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, Diodes presently has an average rating of “Hold” and an average price target of $71.80.

Check Out Our Latest Research Report on Diodes

Diodes Price Performance

Diodes stock traded up $1.45 during trading hours on Friday, hitting $64.23. 650,305 shares of the company traded hands, compared to its average volume of 252,244. The firm’s 50-day simple moving average is $62.61 and its two-hundred day simple moving average is $69.25. The firm has a market cap of $2.98 billion, a P/E ratio of 31.03 and a beta of 1.32. The company has a quick ratio of 2.10, a current ratio of 3.38 and a debt-to-equity ratio of 0.01. Diodes has a 1-year low of $58.44 and a 1-year high of $86.74.

Diodes (NASDAQ:DIOD – Get Free Report) last announced its quarterly earnings data on Thursday, August 8th. The semiconductor company reported $0.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.30 by $0.03. Diodes had a net margin of 7.12% and a return on equity of 5.76%. The company had revenue of $319.80 million for the quarter, compared to analysts’ expectations of $316.12 million. During the same quarter in the previous year, the company posted $1.59 EPS. The business’s revenue was down 31.5% compared to the same quarter last year. As a group, analysts forecast that Diodes will post 1.55 earnings per share for the current fiscal year.

Insider Activity at Diodes

In other news, CEO Keh Shew Lu sold 20,010 shares of Diodes stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $67.25, for a total value of $1,345,672.50. Following the transaction, the chief executive officer now owns 246,492 shares of the company’s stock, valued at $16,576,587. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Diodes news, CFO Brett R. Whitmire sold 1,900 shares of Diodes stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $69.99, for a total transaction of $132,981.00. Following the sale, the chief financial officer now owns 46,365 shares in the company, valued at $3,245,086.35. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Keh Shew Lu sold 20,010 shares of Diodes stock in a transaction on Monday, August 19th. The stock was sold at an average price of $67.25, for a total transaction of $1,345,672.50. Following the sale, the chief executive officer now owns 246,492 shares in the company, valued at $16,576,587. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 24,182 shares of company stock valued at $1,640,921. 2.30% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Diodes

A number of institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. boosted its stake in Diodes by 2.3% during the first quarter. Vanguard Group Inc. now owns 5,782,828 shares of the semiconductor company’s stock worth $407,689,000 after buying an additional 132,101 shares in the last quarter. Earnest Partners LLC boosted its stake in Diodes by 1.4% during the second quarter. Earnest Partners LLC now owns 2,571,188 shares of the semiconductor company’s stock worth $184,946,000 after buying an additional 36,390 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Diodes by 8.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,913,282 shares of the semiconductor company’s stock valued at $137,620,000 after purchasing an additional 141,610 shares in the last quarter. Victory Capital Management Inc. boosted its stake in shares of Diodes by 130.9% in the 3rd quarter. Victory Capital Management Inc. now owns 1,744,135 shares of the semiconductor company’s stock valued at $111,782,000 after purchasing an additional 988,671 shares in the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC boosted its stake in shares of Diodes by 0.5% in the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 851,242 shares of the semiconductor company’s stock valued at $61,230,000 after purchasing an additional 4,615 shares in the last quarter. Institutional investors and hedge funds own 99.23% of the company’s stock.

About Diodes

(Get Free Report)

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.

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