Truist Financial Increases Diodes (NASDAQ:DIOD) Price Target to $74.00

Diodes (NASDAQ:DIOD) had its price objective increased by research analysts at Truist Financial from $67.00 to $74.00 in a research report issued on Friday, Benzinga reports. The brokerage presently has a “hold” rating on the semiconductor company’s stock. Truist Financial’s target price would indicate a potential upside of 6.75% from the company’s previous close.

A number of other brokerages have also weighed in on DIOD. Robert W. Baird upped their target price on shares of Diodes from $56.00 to $72.00 and gave the stock a “neutral” rating in a research note on Friday. Wells Fargo & Company reduced their target price on shares of Diodes from $80.00 to $70.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 7th. Finally, TD Cowen upped their target price on shares of Diodes from $72.00 to $85.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 7th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $74.20.

Diodes Stock Down 9.4 %

Shares of Diodes stock opened at $69.32 on Friday. The company has a market capitalization of $3.20 billion, a P/E ratio of 18.89 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. The business has a 50-day moving average of $69.74 and a two-hundred day moving average of $70.43. Diodes has a 1 year low of $60.00 and a 1 year high of $97.37.

Diodes (NASDAQ:DIOD) last announced its quarterly earnings results on Thursday, May 9th. The semiconductor company reported $0.28 earnings per share for the quarter, beating analysts’ consensus estimates of $0.27 by $0.01. Diodes had a net margin of 11.36% and a return on equity of 9.19%. The firm had revenue of $301.90 million for the quarter, compared to analyst estimates of $305.47 million. During the same quarter in the previous year, the firm posted $1.59 earnings per share. The business’s revenue was down 35.4% on a year-over-year basis. As a group, equities analysts predict that Diodes will post 2.55 EPS for the current year.

Insiders Place Their Bets

In other Diodes news, CFO Brett R. Whitmire sold 3,400 shares of the business’s stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $67.30, for a total transaction of $228,820.00. Following the sale, the chief financial officer now directly owns 48,265 shares of the company’s stock, valued at approximately $3,248,234.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, CEO Keh Shew Lu sold 1,500 shares of the company’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $68.06, for a total value of $102,090.00. Following the sale, the chief executive officer now directly owns 281,992 shares of the company’s stock, valued at approximately $19,192,375.52. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Brett R. Whitmire sold 3,400 shares of the company’s stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $67.30, for a total transaction of $228,820.00. Following the completion of the sale, 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 have sold 25,900 shares of company stock valued at $1,774,570 in the last three months. 2.30% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Diodes

Institutional investors and hedge funds have recently modified their holdings of the company. Raymond James Financial Services Advisors Inc. raised its holdings in Diodes by 5.4% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 2,892 shares of the semiconductor company’s stock valued at $228,000 after acquiring an additional 148 shares during the period. Mendota Financial Group LLC raised its holdings in Diodes by 8.5% in the 4th quarter. Mendota Financial Group LLC now owns 2,039 shares of the semiconductor company’s stock valued at $164,000 after acquiring an additional 160 shares during the period. Signaturefd LLC raised its holdings in Diodes by 9.0% in the 3rd quarter. Signaturefd LLC now owns 2,018 shares of the semiconductor company’s stock valued at $159,000 after acquiring an additional 167 shares during the period. Commonwealth Equity Services LLC raised its holdings in Diodes by 3.1% in the 3rd quarter. Commonwealth Equity Services LLC now owns 6,040 shares of the semiconductor company’s stock valued at $476,000 after acquiring an additional 180 shares during the period. Finally, Arizona State Retirement System raised its holdings in Diodes by 1.4% in the 3rd quarter. Arizona State Retirement System now owns 13,018 shares of the semiconductor company’s stock valued at $1,026,000 after acquiring an additional 180 shares during the period. 99.23% of the stock is owned by institutional investors.

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.