Diodes (NASDAQ:DIOD) Stock Rating Lowered by Zacks Research

Diodes (NASDAQ:DIOD) was downgraded by research analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a report issued on Monday,Zacks.com reports.

Several other analysts also recently commented on DIOD. Robert W. Baird set a $120.00 target price on shares of Diodes in a report on Friday, May 8th. Truist Financial raised their price objective on shares of Diodes from $98.00 to $139.00 and gave the stock a “buy” rating in a report on Friday, May 8th. Three research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Diodes has a consensus rating of “Moderate Buy” and a consensus price target of $113.00.

Diodes Stock Performance

Shares of DIOD stock opened at $109.53 on Monday. The firm has a 50-day moving average of $100.57 and a 200-day moving average of $74.04. The company has a market cap of $5.03 billion, a P/E ratio of 59.53 and a beta of 1.90. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.17 and a quick ratio of 1.97. Diodes has a one year low of $42.28 and a one year high of $121.96.

Diodes (NASDAQ:DIOD) last announced its earnings results on Thursday, May 7th. The semiconductor company reported $0.43 EPS for the quarter, beating the consensus estimate of $0.35 by $0.08. The company had revenue of $405.47 million during the quarter, compared to the consensus estimate of $396.33 million. Diodes had a net margin of 5.50% and a return on equity of 3.48%. The firm’s revenue for the quarter was up 22.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.19 earnings per share. Equities research analysts forecast that Diodes will post 2.58 EPS for the current fiscal year.

Insider Activity

In other Diodes news, CFO Brett R. Whitmire sold 16,556 shares of the stock in a transaction dated Wednesday, May 13th. The shares were sold at an average price of $103.34, for a total transaction of $1,710,897.04. Following the completion of the transaction, the chief financial officer owned 44,632 shares in the company, valued at $4,612,270.88. This trade represents a 27.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CTO Francis Tang sold 15,330 shares of the stock in a transaction dated Friday, May 29th. The stock was sold at an average price of $112.04, for a total transaction of $1,717,573.20. Following the transaction, the chief technology officer owned 71,438 shares of the company’s stock, valued at $8,003,913.52. This represents a 17.67% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 70,981 shares of company stock valued at $7,616,906. 1.70% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Diodes

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Captrust Financial Advisors boosted its position in Diodes by 3.1% during the fourth quarter. Captrust Financial Advisors now owns 4,882 shares of the semiconductor company’s stock worth $241,000 after purchasing an additional 145 shares during the period. Verdence Capital Advisors LLC boosted its position in shares of Diodes by 2.3% in the fourth quarter. Verdence Capital Advisors LLC now owns 8,430 shares of the semiconductor company’s stock valued at $416,000 after acquiring an additional 186 shares during the period. Farther Finance Advisors LLC boosted its position in shares of Diodes by 51.4% in the fourth quarter. Farther Finance Advisors LLC now owns 589 shares of the semiconductor company’s stock valued at $29,000 after acquiring an additional 200 shares during the period. Strs Ohio boosted its position in shares of Diodes by 2.2% in the fourth quarter. Strs Ohio now owns 9,100 shares of the semiconductor company’s stock valued at $449,000 after acquiring an additional 200 shares during the period. Finally, EverSource Wealth Advisors LLC boosted its position in shares of Diodes by 77.4% in the second quarter. EverSource Wealth Advisors LLC now owns 470 shares of the semiconductor company’s stock valued at $25,000 after acquiring an additional 205 shares during the period. Institutional investors own 99.23% of the company’s stock.

About Diodes

Diodes Incorporated (NASDAQ: DIOD) is a global manufacturer and supplier of high‐performance discrete, logic, analog and mixed‐signal semiconductor products. Headquartered in Plano, Texas, the company designs and develops a broad range of discrete components, standard logic functions, power management circuits, interface products and array products. Its portfolio includes rectifiers, MOSFETs, general‐purpose diodes, voltage regulators, comparators, buffers and other building blocks for electronic systems.

Diodes Incorporated serves a variety of end markets such as automotive, computing, communications, consumer electronics, industrial and lighting.