Truist Financial Has Lowered Expectations for Diodes (NASDAQ:DIOD) Stock Price

Diodes (NASDAQ:DIOD) had its price target reduced by research analysts at Truist Financial from $63.00 to $53.00 in a note issued to investors on Wednesday,Benzinga reports. The firm presently has a “hold” rating on the semiconductor company’s stock. Truist Financial’s price target suggests a potential upside of 2.34% from the stock’s previous close.

DIOD has been the topic of a number of other reports. StockNews.com upgraded Diodes from a “sell” rating to a “hold” rating in a research note on Monday, November 11th. Benchmark decreased their target price on Diodes from $74.00 to $65.00 and set a “buy” rating on the stock in a research note on Wednesday.

Diodes Stock Performance

Shares of DIOD traded up $0.81 during mid-day trading on Wednesday, hitting $51.79. The stock had a trading volume of 474,135 shares, compared to its average volume of 454,546. The firm has a market cap of $2.40 billion, a P/E ratio of 39.23 and a beta of 1.31. The business has a fifty day moving average price of $61.13 and a 200-day moving average price of $62.74. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.58 and a quick ratio of 2.21. Diodes has a 52 week low of $50.26 and a 52 week high of $86.74.

Diodes (NASDAQ:DIOD) last issued its earnings results on Tuesday, February 11th. 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 net margin of 4.72% and a return on equity of 3.90%. On average, equities research analysts expect that Diodes will post 1.35 EPS for the current year.

Insider Transactions at Diodes

In related news, President Gary Yu sold 2,900 shares of the stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $56.04, for a total transaction of $162,516.00. Following the completion of the sale, the president now directly owns 79,697 shares in the company, valued at $4,466,219.88. This represents a 3.51 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Emily Yang sold 950 shares of the stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $56.04, for a total value of $53,238.00. Following the sale, the senior vice president now owns 65,107 shares of the company’s stock, valued at $3,648,596.28. This represents a 1.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 4,680 shares of company stock worth $262,267. 2.30% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Diodes

Several institutional investors have recently bought and sold shares of the stock. JPMorgan Chase & Co. raised its position in shares of Diodes by 34.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 226,742 shares of the semiconductor company’s stock worth $14,532,000 after acquiring an additional 58,597 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Diodes by 5.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 626,106 shares of the semiconductor company’s stock valued at $40,127,000 after purchasing an additional 31,089 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Diodes by 3.6% in the 3rd quarter. Geode Capital Management LLC now owns 1,266,052 shares of the semiconductor company’s stock worth $81,154,000 after buying an additional 43,841 shares during the last quarter. Tributary Capital Management LLC boosted its stake in shares of Diodes by 9.5% in the 3rd quarter. Tributary Capital Management LLC now owns 291,037 shares of the semiconductor company’s stock worth $18,653,000 after buying an additional 25,259 shares during the last quarter. Finally, Versor Investments LP purchased a new position in Diodes during the third quarter valued at $680,000. 99.23% of the stock is currently owned by hedge funds and other institutional investors.

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.