Truist Financial Cuts Diodes (NASDAQ:DIOD) Price Target to $51.00

Diodes (NASDAQ:DIOD) had its price target cut by Truist Financial from $54.00 to $51.00 in a report released on Friday,Benzinga reports. They currently have a hold rating on the semiconductor company’s stock.

A number of other brokerages have also weighed in on DIOD. Weiss Ratings restated a “hold (c-)” rating on shares of Diodes in a research note on Wednesday, October 8th. Wall Street Zen raised Diodes from a “hold” rating to a “buy” rating in a report on Sunday, August 31st. Finally, Zacks Research raised shares of Diodes from a “strong sell” rating to a “hold” rating in a research note on Monday, October 6th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $54.33.

Diodes Stock Performance

NASDAQ DIOD opened at $44.28 on Friday. The company’s 50 day simple moving average is $53.62 and its two-hundred day simple moving average is $51.23. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.33 and a quick ratio of 2.04. Diodes has a 1 year low of $32.93 and a 1 year high of $67.40. The stock has a market capitalization of $2.06 billion, a PE ratio of 32.32 and a beta of 1.65.

Diodes (NASDAQ:DIOD) last released its quarterly earnings results on Tuesday, March 8th. The semiconductor company reported $0.74 EPS for the quarter. Diodes had a net margin of 4.59% and a return on equity of 2.98%. The firm had revenue of $350.37 million during the quarter. Analysts predict that Diodes will post 1.82 earnings per share for the current fiscal year.

Insider Transactions at Diodes

In related news, SVP Emily Yang sold 1,000 shares of the business’s stock in a transaction that occurred on Thursday, August 28th. The stock was sold at an average price of $56.36, for a total value of $56,360.00. Following the completion of the sale, the senior vice president owned 59,479 shares in the company, valued at $3,352,236.44. The trade was a 1.65% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Brett R. Whitmire sold 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 27th. The stock was sold at an average price of $55.90, for a total value of $111,800.00. Following the completion of the sale, the chief financial officer directly owned 48,777 shares of the company’s stock, valued at approximately $2,726,634.30. This represents a 3.94% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 1.90% of the company’s stock.

Hedge Funds Weigh In On Diodes

Several institutional investors and hedge funds have recently made changes to their positions in the business. Bessemer Group Inc. boosted its holdings in Diodes by 178,733.7% during the 3rd quarter. Bessemer Group Inc. now owns 366,609 shares of the semiconductor company’s stock valued at $19,508,000 after acquiring an additional 366,404 shares during the period. Tributary Capital Management LLC increased its stake in Diodes by 92.5% in the 3rd quarter. Tributary Capital Management LLC now owns 646,240 shares of the semiconductor company’s stock worth $34,386,000 after purchasing an additional 310,500 shares during the period. Global Alpha Capital Management Ltd. lifted its position in Diodes by 56.9% in the second quarter. Global Alpha Capital Management Ltd. now owns 846,070 shares of the semiconductor company’s stock valued at $44,749,000 after purchasing an additional 306,900 shares during the last quarter. Ameriprise Financial Inc. boosted its stake in shares of Diodes by 132.3% during the second quarter. Ameriprise Financial Inc. now owns 402,105 shares of the semiconductor company’s stock valued at $21,267,000 after purchasing an additional 228,976 shares during the period. Finally, Cubist Systematic Strategies LLC purchased a new stake in shares of Diodes during the first quarter valued at approximately $8,679,000. 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.