Diodes (NASDAQ:DIOD) Shares Cross Above 200 Day Moving Average – Here’s Why

Diodes Incorporated (NASDAQ:DIOD)’s share price crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $66.00 and traded as high as $67.12. Diodes shares last traded at $65.74, with a volume of 497,893 shares.

Analysts Set New Price Targets

Several brokerages recently issued reports on DIOD. Truist Financial cut their target price on shares of Diodes from $69.00 to $62.00 and set a “hold” rating for the company in a research note on Friday, November 8th. Benchmark reduced their target price on Diodes from $83.00 to $75.00 and set a “buy” rating for the company in a research note on Monday, November 11th. Finally, StockNews.com upgraded Diodes from a “sell” rating to a “hold” rating in a research note on Monday, November 11th. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $72.80.

Diodes Trading Up 3.4 %

The business has a fifty day moving average price of $61.82 and a 200-day moving average price of $66.00. The company has a quick ratio of 2.21, a current ratio of 3.58 and a debt-to-equity ratio of 0.01. The company has a market cap of $3.05 billion, a P/E ratio of 49.80 and a beta of 1.32.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Truvestments Capital LLC bought a new stake in shares of Diodes in the third quarter valued at about $29,000. GAMMA Investing LLC boosted its holdings in Diodes by 68.9% in the 3rd quarter. GAMMA Investing LLC now owns 765 shares of the semiconductor company’s stock valued at $49,000 after purchasing an additional 312 shares during the period. KBC Group NV grew its position in shares of Diodes by 33.9% during the 3rd quarter. KBC Group NV now owns 1,454 shares of the semiconductor company’s stock worth $93,000 after purchasing an additional 368 shares in the last quarter. Canada Pension Plan Investment Board bought a new position in shares of Diodes during the second quarter worth approximately $173,000. Finally, Quest Partners LLC acquired a new stake in shares of Diodes in the third quarter valued at approximately $184,000. 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.