Truist Financial Lowers Diodes (NASDAQ:DIOD) Price Target to $62.00

Diodes (NASDAQ:DIOD) had its price target dropped by research analysts at Truist Financial from $69.00 to $62.00 in a note issued to investors on Friday,Benzinga reports. The brokerage presently has a “hold” rating on the semiconductor company’s stock. Truist Financial’s price objective suggests a potential downside of 2.59% from the company’s current price.

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

Diodes Price Performance

Shares of DIOD traded up $0.87 during midday trading on Friday, hitting $63.65. The company’s stock had a trading volume of 17,255 shares, compared to its average volume of 342,715. The company’s fifty day simple moving average is $62.72 and its two-hundred day simple moving average is $69.28. The stock has a market capitalization of $2.95 billion, a price-to-earnings ratio of 29.94 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 one year low of $58.44 and a one year high of $86.74.

Diodes (NASDAQ:DIOD) last issued its earnings results on Thursday, August 8th. The semiconductor company reported $0.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.30 by $0.03. The business had revenue of $319.80 million during the quarter, compared to analysts’ expectations of $316.12 million. Diodes had a return on equity of 5.76% and a net margin of 7.12%. The business’s revenue for the quarter was down 31.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.59 EPS. As a group, equities analysts expect that Diodes will post 1.55 earnings per share for the current fiscal year.

Insider Activity

In other Diodes news, CEO Keh Shew Lu sold 20,010 shares of the firm’s stock in a transaction 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 directly owns 246,492 shares of the company’s stock, valued at approximately $16,576,587. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, SVP Emily Yang sold 1,272 shares of the stock in a transaction on Monday, August 26th. The stock was sold at an average price of $72.16, for a total value of $91,787.52. Following the completion of the sale, the senior vice president now directly owns 29,028 shares of the company’s stock, valued at approximately $2,094,660.48. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Keh Shew Lu sold 20,010 shares of the firm’s stock in a transaction 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 in the company, valued at approximately $16,576,587. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 24,182 shares of company stock worth $1,640,921 over the last quarter. 2.30% of the stock is currently owned by corporate insiders.

Institutional Trading of Diodes

Several institutional investors and hedge funds have recently made changes to their positions in DIOD. GAMMA Investing LLC grew its position in Diodes by 66.5% in the 2nd quarter. GAMMA Investing LLC now owns 453 shares of the semiconductor company’s stock worth $33,000 after purchasing an additional 181 shares in the last quarter. EntryPoint Capital LLC purchased a new position in shares of Diodes in the 1st quarter worth approximately $40,000. Innealta Capital LLC bought a new position in shares of Diodes in the second quarter valued at approximately $88,000. KBC Group NV increased its position in shares of Diodes by 33.9% during the third quarter. KBC Group NV now owns 1,454 shares of the semiconductor company’s stock valued at $93,000 after acquiring an additional 368 shares during the last quarter. Finally, EMC Capital Management lifted its holdings in Diodes by 25.8% during the first quarter. EMC Capital Management now owns 1,632 shares of the semiconductor company’s stock worth $115,000 after acquiring an additional 335 shares during the period. Hedge funds and other institutional investors own 99.23% of the company’s stock.

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.