Diodes (NASDAQ:DIOD) Trading Down 6.8% – Here’s What Happened

Diodes Incorporated (NASDAQ:DIOD)’s share price fell 6.8% during mid-day trading on Friday . The stock traded as low as $106.00 and last traded at $107.1270. Approximately 54,559 shares changed hands during trading, a decline of 90% from the average daily volume of 544,859 shares. The stock had previously closed at $114.97.

Wall Street Analysts Forecast Growth

DIOD has been the topic of a number of research analyst reports. Truist Financial raised their target price on shares of Diodes from $98.00 to $139.00 and gave the company a “buy” rating in a research report on Friday, May 8th. Zacks Research downgraded Diodes from a “strong-buy” rating to a “hold” rating in a report on Monday, June 15th. Finally, Robert W. Baird set a $120.00 price objective on Diodes in a research report on Friday, May 8th. Three research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $113.00.

Diodes Price Performance

The stock has a market cap of $4.79 billion, a P/E ratio of 56.52 and a beta of 1.90. The company’s 50 day moving average price is $105.45 and its 200-day moving average price is $77.35. The company has a quick ratio of 1.97, a current ratio of 3.17 and a debt-to-equity ratio of 0.01.

Diodes (NASDAQ:DIOD) last issued its quarterly earnings data on Thursday, May 7th. The semiconductor company reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.35 by $0.08. The company had revenue of $405.47 million for the quarter, compared to analysts’ expectations of $396.33 million. Diodes had a net margin of 5.50% and a return on equity of 3.48%. Diodes’s revenue for the quarter was up 22.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.19 earnings per share. As a group, sell-side analysts expect that Diodes Incorporated will post 2.58 earnings per share for the current year.

Insider Activity

In other Diodes news, CFO Brett R. Whitmire sold 16,556 shares of the company’s stock in a transaction dated Wednesday, May 13th. The stock was sold at an average price of $103.34, for a total value of $1,710,897.04. Following the sale, the chief financial officer 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 transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Jin Zhao sold 3,689 shares of the stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $106.86, for a total value of $394,206.54. Following the completion of the sale, the insider directly owned 43,531 shares of the company’s stock, valued at approximately $4,651,722.66. The trade was a 7.81% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 70,981 shares of company stock worth $7,616,906. 1.70% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Captrust Financial Advisors boosted its stake in shares of Diodes by 3.1% in the 4th quarter. Captrust Financial Advisors now owns 4,882 shares of the semiconductor company’s stock valued at $241,000 after purchasing an additional 145 shares during the last quarter. Verdence Capital Advisors LLC lifted its holdings in Diodes by 2.3% in the fourth quarter. Verdence Capital Advisors LLC now owns 8,430 shares of the semiconductor company’s stock valued at $416,000 after buying an additional 186 shares during the period. Farther Finance Advisors LLC lifted its holdings in Diodes by 51.4% in the fourth quarter. Farther Finance Advisors LLC now owns 589 shares of the semiconductor company’s stock valued at $29,000 after buying an additional 200 shares during the period. Strs Ohio boosted its position in Diodes by 2.2% during the fourth quarter. Strs Ohio now owns 9,100 shares of the semiconductor company’s stock valued at $449,000 after acquiring an additional 200 shares during the last quarter. Finally, EverSource Wealth Advisors LLC boosted its position in Diodes by 77.4% during the second quarter. EverSource Wealth Advisors LLC now owns 470 shares of the semiconductor company’s stock valued at $25,000 after acquiring an additional 205 shares during the last quarter. Institutional investors and hedge funds 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.