Benchmark Cuts Diodes (NASDAQ:DIOD) Price Target to $75.00

Diodes (NASDAQ:DIOD - Get Free Report) had its target price reduced by research analysts at Benchmark from $83.00 to $75.00 in a research report issued on Monday,Benzinga reports. The brokerage presently has a "buy" rating on the semiconductor company's stock. Benchmark's price objective points to a potential upside of 20.64% from the stock's previous close.

Several other brokerages have also recently issued reports on DIOD. Truist Financial reduced their price target on shares of Diodes from $69.00 to $62.00 and set a "hold" rating on the stock in a research report on Friday. StockNews.com lowered Diodes from a "hold" rating to a "sell" rating in a report on Wednesday, August 21st. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $72.80.

Diodes Trading Down 3.2 %

Shares of NASDAQ DIOD traded down $2.06 during mid-day trading on Monday, reaching $62.17. 116,910 shares of the company's stock were exchanged, compared to its average volume of 344,583. The company's 50-day moving average is $62.61 and its 200-day moving average is $69.24. Diodes has a 52-week low of $58.44 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 $2.88 billion, a price-to-earnings ratio of 47.24 and a beta of 1.32.

Diodes (NASDAQ:DIOD - Get Free Report) last announced its earnings results on Thursday, August 8th. The semiconductor company reported $0.33 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.30 by $0.03. The company had revenue of $319.80 million for the quarter, compared to analyst estimates of $316.12 million. Diodes had a return on equity of 3.93% and a net margin of 4.72%. 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 company earned $1.59 earnings per share. Analysts expect that Diodes will post 1.55 EPS for the current fiscal year.

Insider Buying and Selling

In related 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 of the company's stock, valued at $3,245,086.35. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO Keh Shew Lu sold 20,010 shares of the 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 directly owns 246,492 shares of the company's stock, valued at $16,576,587. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Brett R. Whitmire sold 1,900 shares of the stock in a transaction that occurred on 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 of the company's stock, valued at approximately $3,245,086.35. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 24,182 shares of company stock worth $1,640,921 over the last 90 days. 2.30% of the stock is owned by insiders.

Institutional Investors Weigh In On Diodes

Hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. increased its holdings in shares of Diodes by 2.3% in the 1st quarter. Vanguard Group Inc. now owns 5,782,828 shares of the semiconductor company's stock valued at $407,689,000 after purchasing an additional 132,101 shares in the last quarter. Seven Eight Capital LP acquired a new stake in shares of Diodes in the 1st quarter worth approximately $1,055,000. Bessemer Group Inc. raised its holdings in Diodes by 7.4% during the first quarter. Bessemer Group Inc. now owns 144,875 shares of the semiconductor company's stock worth $10,213,000 after purchasing an additional 9,924 shares during the last quarter. William Blair Investment Management LLC boosted its position in Diodes by 19.0% during the first quarter. William Blair Investment Management LLC now owns 479,614 shares of the semiconductor company's stock worth $33,813,000 after purchasing an additional 76,447 shares in the last quarter. Finally, Boston Partners acquired a new stake in Diodes in the first quarter valued at $821,000. Institutional investors and hedge funds own 99.23% of the company's stock.

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.

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