Brokerages Set Diodes Incorporated (NASDAQ:DIOD) Target Price at $73.20

Diodes Incorporated (NASDAQ:DIOD) has been given an average rating of “Hold” by the five brokerages that are presently covering the firm, MarketBeat reports. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $73.20.

A number of brokerages have weighed in on DIOD. StockNews.com downgraded shares of Diodes from a “hold” rating to a “sell” rating in a report on Wednesday, August 21st. Truist Financial cut their price objective on shares of Diodes from $74.00 to $69.00 and set a “hold” rating for the company in a research report on Friday, August 9th.

Insider Activity

In other Diodes news, CEO Keh Shew Lu sold 20,010 shares of the firm’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $67.25, for a total transaction of $1,345,672.50. Following the completion of the transaction, the chief executive officer now owns 246,492 shares in the company, valued at $16,576,587. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Diodes news, CEO Keh Shew Lu sold 20,010 shares of the company’s stock in a transaction on 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 sale, the chief executive officer now directly owns 246,492 shares in the company, valued at $16,576,587. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Emily Yang sold 1,000 shares of Diodes stock in a transaction on Friday, August 30th. The shares were sold at an average price of $70.48, for a total value of $70,480.00. Following the transaction, the senior vice president now directly owns 59,820 shares of the company’s stock, valued at $4,216,113.60. The disclosure for this sale can be found here. In the last 90 days, insiders sold 24,182 shares of company stock worth $1,640,921. 2.30% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Diodes

A number of institutional investors and hedge funds have recently added to or reduced their stakes in DIOD. GAMMA Investing LLC boosted its stake in Diodes by 66.5% in the second 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. SummerHaven Investment Management LLC grew its holdings in Diodes by 2.7% during the 2nd quarter. SummerHaven Investment Management LLC now owns 8,101 shares of the semiconductor company’s stock worth $583,000 after acquiring an additional 210 shares during the last quarter. O Shaughnessy Asset Management LLC increased its position in Diodes by 5.6% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 4,245 shares of the semiconductor company’s stock valued at $299,000 after acquiring an additional 224 shares in the last quarter. Arizona State Retirement System raised its stake in shares of Diodes by 1.9% in the second quarter. Arizona State Retirement System now owns 12,861 shares of the semiconductor company’s stock worth $925,000 after acquiring an additional 236 shares during the last quarter. Finally, Azzad Asset Management Inc. ADV raised its stake in shares of Diodes by 2.5% in the second quarter. Azzad Asset Management Inc. ADV now owns 10,115 shares of the semiconductor company’s stock worth $728,000 after acquiring an additional 250 shares during the last quarter. 99.23% of the stock is currently owned by institutional investors and hedge funds.

Diodes Trading Down 2.0 %

Diodes stock opened at $62.78 on Friday. Diodes has a 52 week low of $58.50 and a 52 week high of $86.74. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.10 and a current ratio of 3.38. The firm has a market capitalization of $2.89 billion, a PE ratio of 17.11 and a beta of 1.32. The business’s 50-day simple moving average is $65.89 and its 200-day simple moving average is $70.29.

Diodes (NASDAQ:DIOD) last issued its quarterly earnings results on Thursday, August 8th. The semiconductor company reported $0.33 EPS for the quarter, topping the consensus estimate of $0.30 by $0.03. Diodes had a return on equity of 5.76% and a net margin of 7.12%. The company had revenue of $319.80 million for the quarter, compared to the consensus estimate of $316.12 million. During the same period in the previous year, the business posted $1.59 EPS. The company’s revenue for the quarter was down 31.5% on a year-over-year basis. Equities research analysts forecast that Diodes will post 1.55 earnings per share for the current year.

About Diodes

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.