Diodes (NASDAQ:DIOD) Given New $53.00 Price Target at Wells Fargo & Co
Diodes (NASDAQ:DIOD) had its price target lowered by Wells Fargo & Co from $55.00 to $53.00 in a research note released on Tuesday, Stock Target Advisor reports. The firm currently has an outperform rating on the semiconductor company’s stock.
A number of other analysts have also weighed in on DIOD. BidaskClub upgraded Diodes from a buy rating to a strong-buy rating in a research note on Wednesday, October 16th. Zacks Investment Research lowered Diodes from a buy rating to a hold rating in a research note on Tuesday, October 8th. Finally, ValuEngine lowered Diodes from a buy rating to a hold rating in a research note on Friday, August 2nd. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company currently has an average rating of Buy and a consensus target price of $52.00.
NASDAQ:DIOD opened at $45.71 on Tuesday. The stock’s fifty day moving average is $42.44 and its 200 day moving average is $38.07. Diodes has a fifty-two week low of $29.88 and a fifty-two week high of $49.36. The firm has a market capitalization of $2.38 billion, a PE ratio of 19.21 and a beta of 1.30. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.94 and a current ratio of 2.56.
In other news, CFO Brett R. Whitmire sold 2,093 shares of the firm’s stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $38.00, for a total transaction of $79,534.00. Following the transaction, the chief financial officer now owns 16,000 shares in the company, valued at $608,000. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Emily Yang sold 1,731 shares of the firm’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $40.71, for a total value of $70,469.01. Following the transaction, the vice president now owns 46,961 shares in the company, valued at approximately $1,911,782.31. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 13,652 shares of company stock worth $611,307. Insiders own 5.30% of the company’s stock.
Several institutional investors have recently made changes to their positions in DIOD. Squar Milner Financial Services LLC purchased a new position in shares of Diodes during the third quarter valued at $26,000. Sandy Spring Bank purchased a new position in shares of Diodes during the second quarter valued at $36,000. C M Bidwell & Associates Ltd. purchased a new position in shares of Diodes during the second quarter valued at $47,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Diodes by 58.8% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,204 shares of the semiconductor company’s stock valued at $117,000 after buying an additional 1,186 shares during the period. Finally, Riverhead Capital Management LLC increased its stake in shares of Diodes by 11.5% during the second quarter. Riverhead Capital Management LLC now owns 3,869 shares of the semiconductor company’s stock valued at $141,000 after buying an additional 400 shares during the period. Hedge funds and other institutional investors own 81.19% of the company’s stock.
Diodes Incorporated, together with its subsidiaries, designs, manufactures, and supplies application-specific standard products in the discrete, logic, and analog and mixed-signal semiconductor markets in Asia, North America, and Europe. It primarily focuses on low pin count semiconductor devices with one or more active or passive components.
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