Diodes (NASDAQ:DIOD) Upgraded by Zacks Research to Hold Rating

Diodes (NASDAQ:DIOD) was upgraded by analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research note issued to investors on Monday,Zacks.com reports.

Several other brokerages have also issued reports on DIOD. Wall Street Zen lowered shares of Diodes from a “buy” rating to a “hold” rating in a research note on Saturday, November 8th. Truist Financial boosted their price objective on Diodes from $51.00 to $54.00 and gave the company a “hold” rating in a report on Friday, December 19th. Finally, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Diodes in a research report on Monday, December 29th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $55.33.

Diodes Price Performance

DIOD stock opened at $54.84 on Monday. The company has a quick ratio of 2.09, a current ratio of 3.32 and a debt-to-equity ratio of 0.01. The firm has a market cap of $2.54 billion, a price-to-earnings ratio of 39.74 and a beta of 1.65. The company’s fifty day simple moving average is $49.16 and its 200 day simple moving average is $52.12. Diodes has a 12-month low of $32.93 and a 12-month high of $67.00.

Diodes (NASDAQ:DIOD) last announced its quarterly earnings data on Tuesday, March 8th. The semiconductor company reported $0.74 earnings per share (EPS) for the quarter. Diodes had a return on equity of 2.81% and a net margin of 4.49%.The company had revenue of $350.37 million for the quarter. On average, analysts expect that Diodes will post 1.82 earnings per share for the current year.

Insiders Place Their Bets

In other Diodes news, Director Keh Shew Lu sold 6,000 shares of the company’s stock in a transaction dated Wednesday, November 12th. The shares were sold at an average price of $47.42, for a total value of $284,520.00. Following the completion of the sale, the director directly owned 244,397 shares of the company’s stock, valued at approximately $11,589,305.74. This represents a 2.40% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 2.30% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Salomon & Ludwin LLC purchased a new stake in shares of Diodes during the 3rd quarter worth approximately $25,000. EverSource Wealth Advisors LLC increased its position in Diodes by 77.4% in the second quarter. EverSource Wealth Advisors LLC now owns 470 shares of the semiconductor company’s stock worth $25,000 after buying an additional 205 shares during the last quarter. MassMutual Private Wealth & Trust FSB raised its stake in shares of Diodes by 283.1% in the second quarter. MassMutual Private Wealth & Trust FSB now owns 544 shares of the semiconductor company’s stock valued at $29,000 after buying an additional 402 shares during the period. Geneos Wealth Management Inc. purchased a new position in shares of Diodes during the 2nd quarter valued at $30,000. Finally, Fifth Third Bancorp grew its stake in shares of Diodes by 85.8% during the 2nd quarter. Fifth Third Bancorp now owns 628 shares of the semiconductor company’s stock worth $33,000 after acquiring an additional 290 shares during the period. 99.23% of the stock is currently owned by hedge funds and other institutional investors.

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.