Diodes Incorporated (NASDAQ:DIOD – Get Free Report)’s share price dropped 6.8% during mid-day trading on Friday . The stock traded as low as $106.00 and last traded at $107.1270. 54,559 shares changed hands during trading, a decline of 90% from the average session volume of 544,859 shares. The stock had previously closed at $114.97.
Wall Street Analysts Forecast Growth
DIOD has been the topic of several research reports. Zacks Research downgraded shares of Diodes from a “strong-buy” rating to a “hold” rating in a report on Monday, June 15th. Robert W. Baird set a $120.00 price objective on shares of Diodes in a research report on Friday, May 8th. Finally, Truist Financial upped their target price on Diodes from $98.00 to $139.00 and gave the company a “buy” rating in a research report on Friday, May 8th. Three research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $113.00.
Read Our Latest Research Report on Diodes
Diodes Stock Down 9.3%
Diodes (NASDAQ:DIOD – Get Free Report) last released its quarterly earnings results on Thursday, May 7th. The semiconductor company reported $0.43 earnings per share for the quarter, beating analysts’ consensus estimates of $0.35 by $0.08. The company had revenue of $405.47 million during the quarter, compared to the consensus estimate of $396.33 million. Diodes had a net margin of 5.50% and a return on equity of 3.48%. The firm’s quarterly revenue was up 22.1% on a year-over-year basis. During the same period in the previous year, the business earned $0.19 earnings per share. On average, equities analysts forecast that Diodes Incorporated will post 2.58 EPS for the current year.
Insider Activity at Diodes
In related news, CTO Francis Tang sold 15,330 shares of the firm’s stock in a transaction on Friday, May 29th. The stock was sold at an average price of $112.04, for a total value of $1,717,573.20. Following the transaction, the chief technology officer owned 71,438 shares in the company, valued at approximately $8,003,913.52. This trade represents a 17.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Andy Tsong sold 1,582 shares of the business’s stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $106.95, for a total value of $169,194.90. Following the completion of the transaction, the senior vice president directly owned 48,170 shares of the company’s stock, valued at approximately $5,151,781.50. This trade represents a 3.18% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 70,981 shares of company stock worth $7,616,906 in the last quarter. 1.70% of the stock is currently owned by corporate insiders.
Institutional Inflows and Outflows
A number of hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in Diodes by 2.8% during the fourth quarter. Vanguard Group Inc. now owns 6,154,859 shares of the semiconductor company’s stock worth $303,681,000 after purchasing an additional 166,603 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Diodes by 2.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,436,359 shares of the semiconductor company’s stock worth $166,294,000 after buying an additional 53,934 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Diodes by 0.9% during the 4th quarter. Geode Capital Management LLC now owns 1,350,436 shares of the semiconductor company’s stock worth $66,640,000 after buying an additional 11,799 shares during the last quarter. Global Alpha Capital Management Ltd. lifted its position in shares of Diodes by 1.6% during the 4th quarter. Global Alpha Capital Management Ltd. now owns 855,090 shares of the semiconductor company’s stock worth $42,190,000 after buying an additional 13,420 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in Diodes by 2.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 797,316 shares of the semiconductor company’s stock valued at $39,340,000 after acquiring an additional 17,506 shares during the last quarter. 99.23% of the stock is owned by institutional investors.
About Diodes
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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