Truist Financial Has Lowered Expectations for Diodes (NASDAQ:DIOD) Stock Price

Diodes (NASDAQ:DIOD) had its price target dropped by research analysts at Truist Financial from $69.00 to $62.00 in a research report issued on Friday,Benzinga reports. The firm currently has a “hold” rating on the semiconductor company’s stock. Truist Financial’s price target would suggest a potential downside of 3.47% from the stock’s previous close.

Separately, StockNews.com lowered shares of Diodes from a “hold” rating to a “sell” rating in a research note on Wednesday, August 21st. One analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $72.25.

Diodes Price Performance

Shares of NASDAQ:DIOD opened at $64.23 on Friday. The business has a fifty day simple moving average of $62.61 and a 200 day simple moving average of $69.25. The company has a current ratio of 3.38, a quick ratio of 2.10 and a debt-to-equity ratio of 0.01. Diodes has a 1 year low of $58.44 and a 1 year high of $86.74. The firm has a market cap of $2.98 billion, a price-to-earnings ratio of 31.03 and a beta of 1.32.

Diodes (NASDAQ:DIOD) last announced its quarterly earnings results on Thursday, August 8th. The semiconductor company reported $0.33 EPS for the quarter, beating the consensus estimate 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 firm’s quarterly revenue was down 31.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.59 EPS. As a group, sell-side analysts predict that Diodes will post 1.55 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CFO Brett R. Whitmire sold 1,900 shares of the business’s stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $69.99, for a total value of $132,981.00. Following the completion of the sale, the chief financial officer now directly owns 46,365 shares in the company, valued at approximately $3,245,086.35. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CFO Brett R. Whitmire sold 1,900 shares of Diodes stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $69.99, for a total value of $132,981.00. Following the transaction, the chief financial officer now directly owns 46,365 shares in the company, valued at approximately $3,245,086.35. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Keh Shew Lu sold 20,010 shares of the business’s stock in a transaction dated Monday, August 19th. The stock was 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 $16,576,587. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 24,182 shares of company stock worth $1,640,921. 2.30% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Diodes

Hedge funds have recently modified their holdings of the business. Intech Investment Management LLC acquired a new position in Diodes during the 3rd quarter valued at $751,000. Global Alpha Capital Management Ltd. increased its holdings in shares of Diodes by 1.1% during the 3rd quarter. Global Alpha Capital Management Ltd. now owns 248,170 shares of the semiconductor company’s stock worth $15,905,000 after purchasing an additional 2,600 shares during the period. Quest Partners LLC acquired a new position in shares of Diodes during the third quarter valued at about $184,000. Zions Bancorporation N.A. lifted its stake in shares of Diodes by 18.3% in the third quarter. Zions Bancorporation N.A. now owns 27,928 shares of the semiconductor company’s stock valued at $1,790,000 after buying an additional 4,320 shares during the period. Finally, KBC Group NV grew its position in Diodes by 33.9% during the third quarter. KBC Group NV now owns 1,454 shares of the semiconductor company’s stock worth $93,000 after buying an additional 368 shares in the last quarter. 99.23% of the stock is owned by 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.