Diodes (NASDAQ:DIOD) Sets New 1-Year Low – Here’s What Happened

Diodes Incorporated (NASDAQ:DIOD)’s stock price reached a new 52-week low during mid-day trading on Tuesday . The company traded as low as $52.34 and last traded at $52.23, with a volume of 233942 shares traded. The stock had previously closed at $53.30.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. StockNews.com raised shares of Diodes from a “sell” rating to a “hold” rating in a research note on Monday, November 11th. Benchmark lowered their price target on Diodes from $83.00 to $75.00 and set a “buy” rating on the stock in a research report on Monday, November 11th. Finally, Truist Financial cut their price objective on Diodes from $69.00 to $62.00 and set a “hold” rating for the company in a research report on Friday, November 8th.

Diodes Stock Down 1.7 %

The firm has a market cap of $2.43 billion, a P/E ratio of 39.63 and a beta of 1.31. The firm’s fifty day moving average is $61.38 and its 200 day moving average is $62.95. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.21 and a current ratio of 3.58.

Insider Activity at Diodes

In other news, SVP Emily Yang sold 950 shares of the stock in a transaction on Tuesday, February 4th. The stock was 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 of the company’s stock, valued at approximately $3,648,596.28. This represents a 1.44 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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 completion of the transaction, the president now owns 79,697 shares in the company, 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. Over the last three months, insiders have sold 4,680 shares of company stock worth $262,267. Corporate insiders own 2.30% of the company’s stock.

Hedge Funds Weigh In On Diodes

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Truvestments Capital LLC acquired a new position in Diodes during the third quarter valued at approximately $29,000. Smartleaf Asset Management LLC raised its holdings in shares of Diodes by 198.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 785 shares of the semiconductor company’s stock worth $48,000 after buying an additional 522 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of Diodes by 68.9% during the 3rd quarter. GAMMA Investing LLC now owns 765 shares of the semiconductor company’s stock worth $49,000 after buying an additional 312 shares in the last quarter. Quantbot Technologies LP bought a new stake in shares of Diodes during the 4th quarter worth $79,000. Finally, KBC Group NV boosted its stake in Diodes by 33.9% in the third quarter. KBC Group NV now owns 1,454 shares of the semiconductor company’s stock valued at $93,000 after buying an additional 368 shares in the last quarter. 99.23% of the stock is currently owned by institutional investors and hedge funds.

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.