Diodes (NASDAQ:DIOD) Hits New 52-Week Low - Here's What Happened

Diodes Incorporated (NASDAQ:DIOD - Get Free Report)'s share price hit a new 52-week low during trading on Thursday . The stock traded as low as $37.78 and last traded at $37.82, with a volume of 196051 shares. The stock had previously closed at $43.49.

Analyst Ratings Changes

Several research analysts recently issued reports on the company. Truist Financial cut their target price on Diodes from $63.00 to $53.00 and set a "hold" rating on the stock in a research report on Wednesday, February 12th. Baird R W raised shares of Diodes from a "hold" rating to a "strong-buy" rating in a report on Monday. Robert W. Baird upgraded shares of Diodes from a "neutral" rating to an "outperform" rating and set a $50.00 target price for the company in a report on Monday. Finally, Benchmark dropped their price target on shares of Diodes from $74.00 to $65.00 and set a "buy" rating on the stock in a research report on Wednesday, February 12th. Two investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $56.00.

Diodes Stock Performance

The firm has a market cap of $1.60 billion, a PE ratio of 36.26 and a beta of 1.43. The company has a quick ratio of 1.99, a current ratio of 3.26 and a debt-to-equity ratio of 0.01. The company has a 50-day simple moving average of $48.99 and a two-hundred day simple moving average of $57.54.

Diodes (NASDAQ:DIOD - Get Free Report) last issued its quarterly earnings results on Tuesday, February 11th. The semiconductor company reported $0.27 earnings per share for the quarter, missing analysts' consensus estimates of $0.54 by ($0.27). Diodes had a return on equity of 3.28% and a net margin of 3.36%. As a group, equities research analysts forecast that Diodes Incorporated will post 1.82 earnings per share for the current year.

Insider Transactions at Diodes

In related news, CFO Brett R. Whitmire sold 830 shares of Diodes stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $56.04, for a total value of $46,513.20. Following the completion of the sale, the chief financial officer now owns 51,525 shares of the company's stock, valued at approximately $2,887,461. This trade represents a 1.59 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Emily Yang sold 950 shares of the company's stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $56.04, for a total transaction of $53,238.00. Following the sale, the senior vice president now directly owns 65,107 shares in the company, valued at approximately $3,648,596.28. This trade represents a 1.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 4,680 shares of company stock worth $262,267 in the last quarter. Insiders own 2.30% of the company's stock.

Institutional Investors Weigh In On Diodes

Hedge funds and other institutional investors have recently bought and sold shares of the business. Smartleaf Asset Management LLC boosted its holdings in shares of Diodes by 198.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 785 shares of the semiconductor company's stock worth $48,000 after acquiring an additional 522 shares during the period. Quantbot Technologies LP bought a new position in Diodes in the 4th quarter worth about $79,000. Sterling Capital Management LLC grew its holdings in Diodes by 789.7% during the 4th quarter. Sterling Capital Management LLC now owns 1,290 shares of the semiconductor company's stock valued at $80,000 after buying an additional 1,145 shares in the last quarter. KBC Group NV increased its position in shares of Diodes by 36.7% during the fourth quarter. KBC Group NV now owns 1,987 shares of the semiconductor company's stock valued at $123,000 after buying an additional 533 shares during the period. Finally, Xponance Inc. purchased a new stake in shares of Diodes in the fourth quarter worth about $203,000. 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.