Diodes (NASDAQ:DIOD) Rating Lowered to “Hold” at Zacks Research

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

DIOD has been the subject of a number of other research reports. Robert W. Baird set a $120.00 target price on Diodes in a report on Friday, May 8th. Truist Financial upped their target price on 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 given a Hold rating to the stock. According to MarketBeat.com, Diodes presently has an average rating of “Moderate Buy” and an average price target of $113.00.

Diodes Stock Down 3.2%

Shares of NASDAQ DIOD opened at $109.53 on Monday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.97 and a current ratio of 3.17. The firm has a market capitalization of $5.03 billion, a price-to-earnings ratio of 59.53 and a beta of 1.90. The stock has a 50 day moving average price of $100.57 and a 200 day moving average price of $74.04. Diodes has a 52-week low of $42.28 and a 52-week high of $121.96.

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

Insider Activity at Diodes

In other news, CEO Gary Yu sold 3,632 shares of the company’s stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $110.08, for a total transaction of $399,810.56. Following the transaction, the chief executive officer directly owned 108,147 shares of the company’s stock, valued at approximately $11,904,821.76. This represents a 3.25% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Emily Yang sold 3,000 shares of the company’s stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $110.08, for a total value of $330,240.00. Following the transaction, the senior vice president directly owned 61,878 shares in the company, valued at approximately $6,811,530.24. The trade was a 4.62% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 70,981 shares of company stock valued at $7,616,906 over the last 90 days. Insiders own 1.70% of the company’s stock.

Hedge Funds Weigh In On Diodes

A number of large investors have recently made changes to their positions in the business. Integrated Investment Consultants LLC acquired a new position in shares of Diodes during the first quarter worth $216,000. Prospect Capital Advisors LLC acquired a new position in shares of Diodes during the first quarter worth $2,853,000. Bank of America Corp DE increased its position in shares of Diodes by 11.3% during the first quarter. Bank of America Corp DE now owns 390,807 shares of the semiconductor company’s stock worth $26,676,000 after purchasing an additional 39,668 shares in the last quarter. California State Teachers Retirement System increased its position in shares of Diodes by 23.8% during the first quarter. California State Teachers Retirement System now owns 54,987 shares of the semiconductor company’s stock worth $3,753,000 after purchasing an additional 10,579 shares in the last quarter. Finally, Empowered Funds LLC acquired a new position in shares of Diodes during the first quarter worth $344,000. 99.23% of the stock is owned by institutional investors and hedge funds.

Diodes Company Profile

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.