Diodes (NASDAQ:DIOD) Sets New 1-Year Low at $59.09

Diodes Incorporated (NASDAQ:DIOD) reached a new 52-week low on Wednesday . The company traded as low as $59.09 and last traded at $59.10, with a volume of 640742 shares. The stock had previously closed at $62.80.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on DIOD. Truist Financial reduced their price objective on Diodes from $74.00 to $69.00 and set a “hold” rating on the stock in a research report on Friday. Robert W. Baird upped their target price on shares of Diodes from $56.00 to $72.00 and gave the company a “neutral” rating in a report on Friday, May 10th. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, Diodes currently has an average rating of “Hold” and an average price target of $73.20.

Diodes Price Performance

The company has a 50 day moving average of $74.54 and a 200 day moving average of $71.44. The stock has a market capitalization of $2.98 billion, a price-to-earnings ratio of 17.78 and a beta of 1.35. The company has a quick ratio of 2.05, a current ratio of 3.18 and a debt-to-equity ratio of 0.01.

Diodes (NASDAQ:DIOD) last posted its quarterly earnings data on Thursday, August 8th. The semiconductor company reported $0.33 EPS for the quarter, beating analysts’ consensus estimates of $0.27 by $0.06. The company had revenue of $319.80 million during the quarter, compared to the consensus estimate of $316.12 million. Diodes had a net margin of 11.36% and a return on equity of 9.11%. The company’s quarterly revenue was down 31.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.59 EPS. As a group, equities research analysts forecast that Diodes Incorporated will post 1.8 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Peter M. Menard sold 630 shares of Diodes stock in a transaction dated Wednesday, May 29th. The stock was sold at an average price of $71.96, for a total value of $45,334.80. Following the transaction, the director now directly owns 18,050 shares of the company’s stock, valued at approximately $1,298,878. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Keh Shew Lu sold 6,000 shares of the firm’s stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $73.93, for a total transaction of $443,580.00. Following the sale, the chief executive officer now directly owns 102,996 shares in the company, valued at approximately $7,614,494.28. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Peter M. Menard sold 630 shares of the company’s stock in a transaction that occurred on Wednesday, May 29th. The stock was sold at an average price of $71.96, for a total value of $45,334.80. Following the completion of the transaction, the director now owns 18,050 shares of the company’s stock, valued at approximately $1,298,878. The disclosure for this sale can be found here. Insiders have sold a total of 30,630 shares of company stock valued at $2,272,715 over the last quarter. Company insiders own 2.30% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in Diodes by 2.3% during the 1st 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 during the period. Earnest Partners LLC grew its stake in shares of Diodes by 12.5% during the first quarter. Earnest Partners LLC now owns 2,534,798 shares of the semiconductor company’s stock valued at $178,703,000 after acquiring an additional 282,089 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Diodes by 8.0% during the second quarter. Dimensional Fund Advisors LP now owns 1,913,282 shares of the semiconductor company’s stock worth $137,620,000 after acquiring an additional 141,610 shares during the last quarter. Channing Capital Management LLC lifted its stake in shares of Diodes by 19.8% in the fourth quarter. Channing Capital Management LLC now owns 1,009,445 shares of the semiconductor company’s stock worth $81,281,000 after acquiring an additional 166,934 shares in the last quarter. Finally, Victory Capital Management Inc. boosted its holdings in Diodes by 7.0% in the second quarter. Victory Capital Management Inc. now owns 755,464 shares of the semiconductor company’s stock valued at $54,341,000 after purchasing an additional 49,284 shares during the last quarter. 99.23% of the stock is currently owned by hedge funds and other institutional investors.

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.