Diodes (NASDAQ:DIOD – Get Free Report) was downgraded by Zacks Research from a “strong-buy” rating to a “hold” rating in a research report issued on Monday,Zacks.com reports.
A number of other equities analysts have also commented on DIOD. Robert W. Baird set a $120.00 price objective on shares of Diodes in a research report on Friday, May 8th. Truist Financial lifted their target price on shares of Diodes from $98.00 to $139.00 and gave the company a “buy” rating in a research report on Friday, May 8th. Three analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $113.00.
Get Our Latest Analysis on DIOD
Diodes Price Performance
Diodes (NASDAQ:DIOD – Get Free Report) last released its quarterly earnings data on Thursday, May 7th. The semiconductor company reported $0.43 EPS for the quarter, beating analysts’ consensus estimates of $0.35 by $0.08. Diodes had a net margin of 5.50% and a return on equity of 3.48%. The company had revenue of $405.47 million during the quarter, compared to analyst estimates of $396.33 million. During the same period last year, the business earned $0.19 earnings per share. Diodes’s revenue was up 22.1% compared to the same quarter last year. As a group, sell-side analysts predict that Diodes will post 2.58 earnings per share for the current fiscal year.
Insider Activity
In related news, insider Jin Zhao sold 3,689 shares of Diodes stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $106.86, for a total value of $394,206.54. Following the transaction, the insider directly owned 43,531 shares of the company’s stock, valued at $4,651,722.66. The trade was a 7.81% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Brett R. Whitmire sold 16,556 shares of Diodes stock in a transaction on Wednesday, May 13th. The stock was sold at an average price of $103.34, for a total transaction of $1,710,897.04. Following the completion of the transaction, the chief financial officer directly owned 44,632 shares in the company, valued at approximately $4,612,270.88. The trade was a 27.06% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 70,981 shares of company stock valued at $7,616,906. Insiders own 1.70% of the company’s stock.
Institutional Inflows and Outflows
Several hedge funds have recently made changes to their positions in DIOD. Arrowstreet Capital Limited Partnership purchased a new position in shares of Diodes in the third quarter worth $37,519,000. Victory Capital Management Inc. increased its stake in shares of Diodes by 901.2% in the fourth quarter. Victory Capital Management Inc. now owns 509,630 shares of the semiconductor company’s stock worth $25,145,000 after buying an additional 458,727 shares during the period. Invesco Ltd. increased its stake in shares of Diodes by 183.0% in the third quarter. Invesco Ltd. now owns 519,013 shares of the semiconductor company’s stock worth $27,617,000 after buying an additional 335,644 shares during the period. Ameriprise Financial Inc. increased its stake in shares of Diodes by 132.3% in the second quarter. Ameriprise Financial Inc. now owns 402,105 shares of the semiconductor company’s stock worth $21,267,000 after buying an additional 228,976 shares during the period. Finally, Lazard Asset Management LLC increased its stake in shares of Diodes by 671.4% in the third quarter. Lazard Asset Management LLC now owns 220,951 shares of the semiconductor company’s stock worth $11,757,000 after buying an additional 192,309 shares during the period. 99.23% of the stock is owned by hedge funds and other institutional investors.
Diodes Company Profile
Diodes Incorporated (NASDAQ: DIOD) is a global manufacturer and supplier of high‐performance discrete, logic, analog and mixed‐signal semiconductor products. Headquartered in Plano, Texas, the company designs and develops a broad range of discrete components, standard logic functions, power management circuits, interface products and array products. Its portfolio includes rectifiers, MOSFETs, general‐purpose diodes, voltage regulators, comparators, buffers and other building blocks for electronic systems.
Diodes Incorporated serves a variety of end markets such as automotive, computing, communications, consumer electronics, industrial and lighting.
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