Diodes (NASDAQ:DIOD) Given New $62.00 Price Target at Truist Financial

Diodes (NASDAQ:DIOD - Get Free Report) had its price target reduced by equities researchers at Truist Financial from $69.00 to $62.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm presently has a "hold" rating on the semiconductor company's stock. Truist Financial's target price points to a potential downside of 3.47% from the company's previous close.

Separately, StockNews.com lowered shares of Diodes from a "hold" rating to a "sell" rating in a report on Wednesday, August 21st. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, Diodes has a consensus rating of "Hold" and a consensus target price of $71.80.

Diodes Stock Up 2.3 %

DIOD traded up $1.45 during trading hours on Friday, reaching $64.23. 650,281 shares of the stock traded hands, compared to its average volume of 345,632. The firm's fifty day simple moving average is $62.72 and its two-hundred day simple moving average is $69.28. The company has a market cap of $2.98 billion, a price-to-earnings ratio of 29.94 and a beta of 1.32. Diodes has a fifty-two week low of $58.44 and a fifty-two week high of $86.74. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.38 and a quick ratio of 2.10.

Diodes (NASDAQ:DIOD - Get Free Report) last released its quarterly earnings results on Thursday, August 8th. The semiconductor company reported $0.33 earnings per share for the quarter, beating analysts' consensus estimates of $0.30 by $0.03. The business had revenue of $319.80 million during the quarter, compared to analyst estimates of $316.12 million. Diodes had a net margin of 7.12% and a return on equity of 5.76%. The business's revenue was down 31.5% on a year-over-year basis. During the same period last year, the business earned $1.59 EPS. As a group, analysts forecast that Diodes will post 1.55 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Keh Shew Lu sold 20,010 shares of Diodes stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $67.25, for a total value 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 approximately $16,576,587. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, CEO Keh Shew Lu sold 20,010 shares of Diodes stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $67.25, for a total value 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 approximately $16,576,587. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Brett R. Whitmire sold 1,900 shares of Diodes stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $69.99, for a total transaction of $132,981.00. Following the completion of the transaction, the chief financial officer now directly owns 46,365 shares of the company's stock, valued at $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 valued at $1,640,921 in the last ninety days. Corporate insiders own 2.30% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. GAMMA Investing LLC boosted its stake in Diodes by 66.5% during the 2nd quarter. GAMMA Investing LLC now owns 453 shares of the semiconductor company's stock valued at $33,000 after purchasing an additional 181 shares during the period. EntryPoint Capital LLC bought a new stake in shares of Diodes during the 1st quarter worth about $40,000. Innealta Capital LLC bought a new stake in shares of Diodes during the 2nd quarter worth about $88,000. KBC Group NV raised its holdings in shares of Diodes by 33.9% in 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. Finally, EMC Capital Management raised its holdings in shares of Diodes by 25.8% in the 1st quarter. EMC Capital Management now owns 1,632 shares of the semiconductor company's stock worth $115,000 after purchasing an additional 335 shares in the last quarter. 99.23% of the stock is owned by institutional investors and hedge funds.

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.