Diodes (NASDAQ:DIOD) Price Target Raised to $72.00 at Robert W. Baird

Diodes (NASDAQ:DIOD) had its target price lifted by equities research analysts at Robert W. Baird from $56.00 to $72.00 in a report issued on Friday, Benzinga reports. The brokerage currently has a “neutral” rating on the semiconductor company’s stock. Robert W. Baird’s target price suggests a potential downside of 5.85% from the stock’s previous close.

A number of other analysts have also recently issued reports on DIOD. Truist Financial cut their price objective on Diodes from $78.00 to $67.00 and set a “hold” rating for the company in a research report on Wednesday, February 7th. TD Cowen raised their price target on Diodes from $72.00 to $85.00 and gave the company an “outperform” rating in a report on Wednesday, February 7th. Finally, Wells Fargo & Company decreased their price objective on shares of Diodes from $80.00 to $70.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 7th. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, Diodes presently has a consensus rating of “Hold” and a consensus price target of $72.80.

Diodes Stock Performance

Shares of DIOD stock opened at $76.47 on Friday. The company has a fifty day moving average price of $69.75 and a two-hundred day moving average price of $70.47. Diodes has a one year low of $60.00 and a one year high of $97.37. The stock has a market cap of $3.53 billion, a P/E ratio of 15.57 and a beta of 1.44. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.02 and a quick ratio of 2.03.

Diodes (NASDAQ:DIOD) last issued its earnings results on Tuesday, February 6th. The semiconductor company reported $0.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.47 by $0.04. Diodes had a net margin of 13.67% and a return on equity of 12.79%. The company had revenue of $322.70 million for the quarter, compared to analysts’ expectations of $324.76 million. During the same period in the prior year, the firm earned $1.73 EPS. Diodes’s quarterly revenue was down 35.0% compared to the same quarter last year. As a group, equities analysts predict that Diodes will post 2.55 EPS for the current year.

Insider Activity at Diodes

In other Diodes news, CEO Keh Shew Lu sold 6,000 shares of the stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $68.98, for a total transaction of $413,880.00. Following the transaction, the chief executive officer now owns 274,492 shares in the company, valued at approximately $18,934,458.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Diodes news, CEO Keh Shew Lu sold 6,000 shares of the business’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $68.98, for a total value of $413,880.00. Following the completion of the sale, the chief executive officer now owns 274,492 shares of the company’s stock, valued at approximately $18,934,458.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Brett R. Whitmire sold 3,400 shares of the firm’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $67.30, for a total transaction of $228,820.00. Following the transaction, the chief financial officer now directly owns 48,265 shares in the company, valued at $3,248,234.50. The disclosure for this sale can be found here. Insiders sold 25,900 shares of company stock worth $1,774,570 in the last ninety days. 2.30% of the stock is owned by company insiders.

Institutional Trading of Diodes

Large investors have recently modified their holdings of the stock. Norges Bank acquired a new position in Diodes in the fourth quarter valued at about $31,240,000. Frontier Capital Management Co. LLC boosted its position in shares of Diodes by 478.5% during the 4th quarter. Frontier Capital Management Co. LLC now owns 391,415 shares of the semiconductor company’s stock worth $31,517,000 after acquiring an additional 323,759 shares in the last quarter. Global Alpha Capital Management Ltd. bought a new position in Diodes in the third quarter valued at approximately $13,866,000. Channing Capital Management LLC raised its position in Diodes by 19.8% during the fourth quarter. Channing Capital Management LLC now owns 1,009,445 shares of the semiconductor company’s stock valued at $81,281,000 after purchasing an additional 166,934 shares in the last quarter. Finally, William Blair Investment Management LLC bought a new stake in Diodes during the third quarter worth $11,701,000. 99.23% of the stock is owned by institutional investors and hedge funds.

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.