Diodes (NASDAQ:DIOD) Given New $55.00 Price Target at Benchmark

Diodes (NASDAQ:DIOD) had its price target reduced by Benchmark from $65.00 to $55.00 in a research report sent to investors on Monday morning,Benzinga reports. They currently have a buy rating on the semiconductor company’s stock.

A number of other equities research analysts have also recently commented on the company. Truist Financial lowered their target price on Diodes from $63.00 to $53.00 and set a “hold” rating on the stock in a report on Wednesday, February 12th. Robert W. Baird raised Diodes from a “neutral” rating to an “outperform” rating and set a $50.00 price objective on the stock in a research report on Monday, April 7th. Finally, Baird R W raised Diodes from a “hold” rating to a “strong-buy” rating in a report on Monday, April 7th. Two investment analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $52.67.

Diodes Price Performance

Shares of NASDAQ DIOD opened at $47.57 on Monday. The stock’s 50-day moving average is $41.06 and its two-hundred day moving average is $53.14. The company has a market cap of $2.21 billion, a price-to-earnings ratio of 50.07 and a beta of 1.37. Diodes has a 1-year low of $32.93 and a 1-year high of $86.74. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.26 and a quick ratio of 1.99.

Diodes (NASDAQ:DIOD) last announced its earnings results on Thursday, May 8th. The semiconductor company reported $0.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.18 by $0.01. The firm had revenue of $332.11 million during the quarter, compared to analysts’ expectations of $323.28 million. Diodes had a return on equity of 3.28% and a net margin of 3.36%. The business’s revenue was up 10.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.28 EPS. Analysts forecast that Diodes will post 1.82 EPS for the current fiscal year.

Diodes declared that its board has initiated a stock buyback plan on Thursday, May 8th that authorizes the company to repurchase $100.00 million in outstanding shares. This repurchase authorization authorizes the semiconductor company to reacquire up to 5.4% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board believes its shares are undervalued.

Institutional Trading of Diodes

Large investors have recently added to or reduced their stakes in the company. Barclays PLC increased its position in Diodes by 361.1% during the third quarter. Barclays PLC now owns 79,799 shares of the semiconductor company’s stock worth $5,114,000 after buying an additional 62,492 shares during the last quarter. Assenagon Asset Management S.A. acquired a new position in Diodes during the fourth quarter worth $3,027,000. Wedge Capital Management L L P NC increased its position in Diodes by 14.4% during the fourth quarter. Wedge Capital Management L L P NC now owns 66,550 shares of the semiconductor company’s stock worth $4,104,000 after buying an additional 8,355 shares during the last quarter. KBC Group NV increased its position in Diodes by 36.7% during the fourth quarter. KBC Group NV now owns 1,987 shares of the semiconductor company’s stock worth $123,000 after buying an additional 533 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC increased its position in Diodes by 50.1% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 257,633 shares of the semiconductor company’s stock worth $15,795,000 after buying an additional 85,943 shares during the last quarter. 99.23% of the stock is owned by institutional investors and hedge funds.

Diodes Company Profile

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.