Diodes (NASDAQ:DIOD) Rating Lowered to “Hold” at Wall Street Zen

Diodes (NASDAQ:DIOD) was downgraded by investment analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Saturday.

A number of other analysts have also commented on the company. Weiss Ratings reissued a “hold (c-)” rating on shares of Diodes in a research note on Wednesday, October 8th. Truist Financial dropped their price objective on shares of Diodes from $54.00 to $51.00 and set a “hold” rating for the company in a report on Friday. Finally, Zacks Research upgraded shares of Diodes from a “strong sell” rating to a “hold” rating in a research report on Monday, October 6th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $54.33.

Diodes Stock Performance

NASDAQ DIOD opened at $44.28 on Friday. The firm’s fifty day moving average price is $53.62 and its two-hundred day moving average price is $51.23. The stock has a market cap of $2.06 billion, a PE ratio of 32.32 and a beta of 1.65. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.04 and a current ratio of 3.33. Diodes has a fifty-two week low of $32.93 and a fifty-two week high of $67.40.

Diodes (NASDAQ:DIOD) last announced its quarterly earnings results on Tuesday, March 8th. The semiconductor company reported $0.74 EPS for the quarter. The company had revenue of $350.37 million during the quarter. Diodes had a return on equity of 2.98% and a net margin of 4.59%. On average, equities analysts expect that Diodes will post 1.82 EPS for the current fiscal year.

Insider Activity at Diodes

In related news, SVP Emily Yang sold 1,000 shares of the company’s stock in a transaction that occurred on Thursday, August 28th. The stock was sold at an average price of $56.36, for a total value of $56,360.00. Following the sale, the senior vice president directly owned 59,479 shares in the company, valued at $3,352,236.44. This represents a 1.65% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Brett R. Whitmire sold 2,000 shares of the stock in a transaction that occurred on Wednesday, August 27th. The shares were sold at an average price of $55.90, for a total transaction of $111,800.00. Following the sale, the chief financial officer directly owned 48,777 shares of the company’s stock, valued at $2,726,634.30. This represents a 3.94% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 1.90% of the company’s stock.

Hedge Funds Weigh In On Diodes

Several hedge funds and other institutional investors have recently bought and sold shares of DIOD. Hodges Capital Management Inc. acquired a new stake in Diodes during the 3rd quarter worth about $1,968,000. First National Bank of Omaha bought a new stake in shares of Diodes during the 3rd quarter valued at about $2,222,000. Vanguard Group Inc. boosted its position in shares of Diodes by 0.8% during the 3rd quarter. Vanguard Group Inc. now owns 5,988,256 shares of the semiconductor company’s stock valued at $318,635,000 after purchasing an additional 49,379 shares in the last quarter. JPMorgan Chase & Co. grew its stake in Diodes by 49.6% during the third quarter. JPMorgan Chase & Co. now owns 464,429 shares of the semiconductor company’s stock worth $24,712,000 after purchasing an additional 153,905 shares during the period. Finally, PNC Financial Services Group Inc. increased its holdings in Diodes by 29.3% in the third quarter. PNC Financial Services Group Inc. now owns 7,178 shares of the semiconductor company’s stock worth $382,000 after purchasing an additional 1,628 shares in the last quarter. Institutional investors and hedge funds own 99.23% of the company’s stock.

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.