Diodes (NASDAQ:DIOD) Downgraded by Zacks Research to Hold

Zacks Research lowered shares of Diodes (NASDAQ:DIOD) from a strong-buy rating to a hold rating in a research note issued to investors on Monday morning,Zacks.com reports.

Other equities research analysts have also recently issued research reports about the stock. Robert W. Baird set a $120.00 target price on shares of Diodes in a report on Friday, May 8th. Truist Financial boosted their target price on shares of Diodes from $98.00 to $139.00 and gave the company a “buy” rating in a report on Friday, May 8th. Three research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Diodes presently has a consensus rating of “Moderate Buy” and a consensus price target of $113.00.

Diodes Trading Down 3.2%

Shares of DIOD stock opened at $109.53 on Monday. The company’s fifty day simple moving average is $100.57 and its two-hundred day simple moving average is $74.04. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.17 and a quick ratio of 1.97. Diodes has a 1 year low of $42.28 and a 1 year high of $121.96. The stock has a market capitalization of $5.03 billion, a price-to-earnings ratio of 59.53 and a beta of 1.90.

Diodes (NASDAQ:DIOD) last issued its 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. Diodes had a net margin of 5.50% and a return on equity of 3.48%. The business had revenue of $405.47 million for the quarter, compared to analysts’ expectations of $396.33 million. During the same quarter in the previous year, the firm posted $0.19 EPS. The business’s revenue for the quarter was up 22.1% compared to the same quarter last year. As a group, analysts anticipate that Diodes will post 2.58 earnings per share for the current year.

Insider Transactions at Diodes

In other news, SVP Emily Yang sold 3,000 shares of the company’s stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $110.08, for a total value of $330,240.00. Following the transaction, the senior vice president owned 61,878 shares of the company’s stock, valued at approximately $6,811,530.24. This represents a 4.62% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Brett R. Whitmire sold 16,556 shares of the company’s stock in a transaction on Wednesday, May 13th. The stock was sold at an average price of $103.34, for a total transaction of $1,710,897.04. Following the completion of the transaction, the chief financial officer directly owned 44,632 shares in the company, valued at approximately $4,612,270.88. The trade was a 27.06% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 70,981 shares of company stock valued at $7,616,906. Corporate insiders own 1.70% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in DIOD. AQR Capital Management LLC increased its holdings in shares of Diodes by 12.4% in the first quarter. AQR Capital Management LLC now owns 6,028 shares of the semiconductor company’s stock worth $260,000 after purchasing an additional 663 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Diodes by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 27,148 shares of the semiconductor company’s stock worth $1,172,000 after acquiring an additional 1,186 shares in the last quarter. Goldman Sachs Group Inc. grew its position in Diodes by 13.8% in the first quarter. Goldman Sachs Group Inc. now owns 391,005 shares of the semiconductor company’s stock worth $16,880,000 after acquiring an additional 47,500 shares in the last quarter. Woodline Partners LP purchased a new position in Diodes in the first quarter worth $559,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in Diodes by 6.8% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 104,719 shares of the semiconductor company’s stock worth $4,521,000 after acquiring an additional 6,708 shares in the last quarter. Institutional investors own 99.23% of the company’s stock.

About Diodes

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.