Diodes (NASDAQ:DIOD) Sets New 1-Year Low Following Weak Earnings

Diodes Incorporated (NASDAQ:DIOD - Get Free Report)'s share price hit a new 52-week low during mid-day trading on Tuesday following a dissappointing earnings announcement. The company traded as low as $52.34 and last traded at $52.23, with a volume of 233942 shares. The stock had previously closed at $53.30.

The semiconductor company reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.54 by ($0.27). Diodes had a return on equity of 3.90% and a net margin of 4.72%.

Analysts Set New Price Targets

DIOD has been the topic of several research analyst reports. Benchmark dropped their price objective on Diodes from $74.00 to $65.00 and set a "buy" rating on the stock in a report on Wednesday. Truist Financial dropped their price objective on Diodes from $63.00 to $53.00 and set a "hold" rating on the stock in a report on Wednesday. Finally, StockNews.com raised Diodes from a "sell" rating to a "hold" rating in a report on Monday, November 11th.

Insider Activity at Diodes

In related news, CFO Brett R. Whitmire sold 830 shares of Diodes stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $56.04, for a total transaction of $46,513.20. Following the completion of the transaction, the chief financial officer now directly owns 51,525 shares of the company's stock, valued at approximately $2,887,461. The trade was a 1.59 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, President Gary Yu sold 2,900 shares of the firm's stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $56.04, for a total value of $162,516.00. Following the transaction, the president now directly owns 79,697 shares of the company's stock, valued at $4,466,219.88. The trade was a 3.51 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 4,680 shares of company stock worth $262,267. 2.30% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. grew its holdings in shares of Diodes by 1.8% during the fourth quarter. Vanguard Group Inc. now owns 5,910,766 shares of the semiconductor company's stock valued at $364,517,000 after purchasing an additional 102,263 shares during the last quarter. FMR LLC lifted its holdings in shares of Diodes by 2.0% in the fourth quarter. FMR LLC now owns 5,902,006 shares of the semiconductor company's stock valued at $363,977,000 after purchasing an additional 116,872 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Diodes by 8.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,238,567 shares of the semiconductor company's stock valued at $138,053,000 after purchasing an additional 168,545 shares in the last quarter. Earnest Partners LLC increased its stake in shares of Diodes by 0.4% in the fourth quarter. Earnest Partners LLC now owns 2,119,097 shares of the semiconductor company's stock worth $130,685,000 after acquiring an additional 7,552 shares during the last quarter. Finally, Victory Capital Management Inc. increased its stake in shares of Diodes by 9.4% in the fourth quarter. Victory Capital Management Inc. now owns 1,907,509 shares of the semiconductor company's stock worth $117,636,000 after acquiring an additional 163,374 shares during the last quarter. Institutional investors and hedge funds own 99.23% of the company's stock.

Diodes Price Performance

The stock has a market capitalization of $2.48 billion, a price-to-earnings ratio of 40.51 and a beta of 1.31. The company's 50-day simple moving average is $60.68 and its 200 day simple moving average is $62.32. The company has a quick ratio of 2.21, a current ratio of 3.58 and a debt-to-equity ratio of 0.01.

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.