Diodes (NASDAQ:DIOD) Reaches New 52-Week Low – Here’s What Happened

Shares of Diodes Incorporated (NASDAQ:DIOD) hit a new 52-week low on Friday . The company traded as low as $43.44 and last traded at $43.49, with a volume of 64039 shares trading hands. The stock had previously closed at $46.23.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Truist Financial lowered their target price on shares of Diodes from $63.00 to $53.00 and set a “hold” rating on the stock in a research note on Wednesday, February 12th. Benchmark lowered their price objective on Diodes from $74.00 to $65.00 and set a “buy” rating on the stock in a research note on Wednesday, February 12th.

Diodes Stock Performance

The firm’s 50 day moving average price is $52.87 and its two-hundred day moving average price is $58.92. The firm has a market cap of $2.00 billion, a PE ratio of 45.40 and a beta of 1.31. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.99 and a current ratio of 3.26.

Diodes (NASDAQ:DIOD) last issued its quarterly earnings data on Tuesday, February 11th. The semiconductor company reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.54 by ($0.27). Diodes had a return on equity of 3.28% and a net margin of 3.36%. On average, research analysts forecast that Diodes Incorporated will post 1.82 earnings per share for the current year.

Insider Buying and Selling

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

Institutional Investors Weigh In On Diodes

Institutional investors have recently modified their holdings of the company. JPMorgan Chase & Co. boosted its holdings in Diodes by 34.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 226,742 shares of the semiconductor company’s stock valued at $14,532,000 after acquiring an additional 58,597 shares during the period. Charles Schwab Investment Management Inc. lifted its position in shares of Diodes by 5.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 626,106 shares of the semiconductor company’s stock worth $40,127,000 after purchasing an additional 31,089 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Diodes by 3.6% in the third quarter. Geode Capital Management LLC now owns 1,266,052 shares of the semiconductor company’s stock valued at $81,154,000 after purchasing an additional 43,841 shares during the period. Smartleaf Asset Management LLC grew its holdings in shares of Diodes by 198.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 785 shares of the semiconductor company’s stock valued at $48,000 after purchasing an additional 522 shares in the last quarter. Finally, Proficio Capital Partners LLC purchased a new stake in Diodes during the 4th quarter worth approximately $970,000. 99.23% of the stock is 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.