Diodes (NASDAQ:DIOD) Hits New 12-Month Low at $58.92

Diodes Incorporated (NASDAQ:DIOD) shares hit a new 52-week low on Wednesday . The company traded as low as $58.92 and last traded at $59.00, with a volume of 29591 shares changing hands. The stock had previously closed at $59.52.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. StockNews.com downgraded shares of Diodes from a “hold” rating to a “sell” rating in a report on Wednesday, August 21st. Truist Financial reduced their target price on shares of Diodes from $74.00 to $69.00 and set a “hold” rating for the company in a report on Friday, August 9th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $73.20.

Diodes Stock Performance

The company has a current ratio of 3.38, a quick ratio of 2.10 and a debt-to-equity ratio of 0.01. The firm’s fifty day moving average price is $70.58 and its two-hundred day moving average price is $70.89. The stock has a market capitalization of $2.71 billion, a PE ratio of 16.22 and a beta of 1.32.

Diodes (NASDAQ:DIOD) last issued its quarterly earnings data on Thursday, August 8th. The semiconductor company reported $0.33 earnings per share for the quarter, topping analysts’ consensus estimates of $0.30 by $0.03. Diodes had a net margin of 7.12% and a return on equity of 5.76%. The business had revenue of $319.80 million during the quarter, compared to the consensus estimate of $316.12 million. During the same quarter in the prior year, the firm posted $1.59 earnings per share. The company’s revenue was down 31.5% compared to the same quarter last year. As a group, equities research analysts forecast that Diodes Incorporated will post 1.6 EPS for the current year.

Insider Buying and Selling at Diodes

In other news, SVP Emily Yang sold 1,000 shares of the company’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $70.48, for a total transaction of $70,480.00. Following the completion of the transaction, the senior vice president now directly owns 59,820 shares of the company’s stock, valued at approximately $4,216,113.60. The sale was disclosed in a filing with the SEC, which is available at this link. In related news, SVP Emily Yang sold 1,000 shares of the company’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $70.48, for a total transaction of $70,480.00. Following the completion of the transaction, the senior vice president now owns 59,820 shares in the company, valued at approximately $4,216,113.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Keh Shew Lu sold 20,010 shares of Diodes stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $67.25, for a total value of $1,345,672.50. Following the completion of the sale, the chief executive officer now owns 246,492 shares in the company, valued at $16,576,587. The disclosure for this sale can be found here. Over the last three months, insiders have sold 24,182 shares of company stock valued at $1,640,921. Company insiders own 2.30% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in DIOD. GAMMA Investing LLC boosted its stake in Diodes by 66.5% during the 2nd quarter. GAMMA Investing LLC now owns 453 shares of the semiconductor company’s stock worth $33,000 after purchasing an additional 181 shares during the last quarter. EntryPoint Capital LLC purchased a new stake in Diodes during the 1st quarter valued at about $40,000. Riverview Trust Co acquired a new stake in Diodes in the 1st quarter valued at about $51,000. Principal Securities Inc. purchased a new position in Diodes in the 4th quarter worth approximately $74,000. Finally, Innealta Capital LLC acquired a new position in shares of Diodes during the 2nd quarter worth approximately $88,000. 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.