Diodes (NASDAQ:DIOD) Given New $53.00 Price Target at Truist Financial

Diodes (NASDAQ:DIOD) had its target price trimmed by Truist Financial from $63.00 to $53.00 in a research report sent to investors on Wednesday,Benzinga reports. The brokerage currently has a hold rating on the semiconductor company’s stock.

A number of other research analysts have also weighed in on the company. Benchmark reduced their price target on Diodes from $74.00 to $65.00 and set a “buy” rating on the stock in a research note on Wednesday. StockNews.com raised Diodes from a “sell” rating to a “hold” rating in a research note on Monday, November 11th.

Diodes Price Performance

DIOD stock opened at $53.47 on Wednesday. Diodes has a 1 year low of $50.26 and a 1 year high of $86.74. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.21 and a current ratio of 3.58. The stock’s 50 day moving average price is $60.68 and its 200 day moving average price is $62.42. The firm has a market cap of $2.48 billion, a P/E ratio of 40.51 and a beta of 1.31.

Diodes (NASDAQ:DIOD) last issued its quarterly earnings results on Tuesday, February 11th. The semiconductor company reported $0.27 earnings per share for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.27). Diodes had a return on equity of 3.90% and a net margin of 4.72%. On average, sell-side analysts expect that Diodes will post 1.35 earnings per share for the current fiscal year.

Insider Transactions at Diodes

In other news, CFO Brett R. Whitmire sold 830 shares of the company’s stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $56.04, for a total transaction of $46,513.20. Following the completion of the sale, the chief financial officer now directly owns 51,525 shares in the company, valued at $2,887,461. This represents a 1.59 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, President Gary Yu sold 2,900 shares of the company’s stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $56.04, for a total value of $162,516.00. Following the sale, the president now owns 79,697 shares of the company’s stock, valued at approximately $4,466,219.88. The trade was a 3.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 4,680 shares of company stock worth $262,267 in the last ninety days. Insiders own 2.30% of the company’s stock.

Institutional Trading of Diodes

Large investors have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. increased its holdings in Diodes by 34.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 226,742 shares of the semiconductor company’s stock valued at $14,532,000 after purchasing an additional 58,597 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Diodes by 5.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 626,106 shares of the semiconductor company’s stock valued at $40,127,000 after purchasing an additional 31,089 shares in the last quarter. Geode Capital Management LLC increased its holdings in Diodes by 3.6% in the 3rd quarter. Geode Capital Management LLC now owns 1,266,052 shares of the semiconductor company’s stock valued at $81,154,000 after purchasing an additional 43,841 shares in the last quarter. Tributary Capital Management LLC increased its holdings in Diodes by 9.5% in the 3rd quarter. Tributary Capital Management LLC now owns 291,037 shares of the semiconductor company’s stock valued at $18,653,000 after purchasing an additional 25,259 shares in the last quarter. Finally, Versor Investments LP acquired a new stake in Diodes in the 3rd quarter valued at $680,000. 99.23% of the stock is currently owned by institutional investors and hedge funds.

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.