Diodes (NASDAQ:DIOD) Upgraded by Truist Financial to “Buy” Rating

Truist Financial upgraded shares of Diodes (NASDAQ:DIOD) from a hold rating to a buy rating in a research report report published on Monday, Marketbeat reports. Truist Financial currently has $98.00 target price on the semiconductor company’s stock, up from their previous target price of $67.00.

A number of other research firms have also recently weighed in on DIOD. Wall Street Zen raised shares of Diodes from a “hold” rating to a “buy” rating in a report on Saturday, February 14th. Benchmark raised their price objective on shares of Diodes from $62.00 to $80.00 and gave the stock a “buy” rating in a report on Wednesday, February 11th. Robert W. Baird raised their price objective on shares of Diodes from $80.00 to $100.00 and gave the stock an “outperform” rating in a report on Tuesday, April 7th. Zacks Research cut shares of Diodes from a “hold” rating to a “strong sell” rating in a report on Wednesday, February 11th. Finally, Weiss Ratings raised shares of Diodes from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, January 21st. Three research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $92.67.

Diodes Stock Up 6.2%

Shares of NASDAQ:DIOD opened at $88.26 on Monday. The firm’s 50 day moving average price is $68.36 and its 200 day moving average price is $57.78. The stock has a market cap of $4.06 billion, a price-to-earnings ratio of 62.16 and a beta of 1.58. Diodes has a fifty-two week low of $33.13 and a fifty-two week high of $88.33. The company has a quick ratio of 2.08, a current ratio of 3.32 and a debt-to-equity ratio of 0.01.

Diodes (NASDAQ:DIOD) last issued its earnings results on Tuesday, February 10th. The semiconductor company reported $0.34 earnings per share for the quarter, beating the consensus estimate of $0.26 by $0.08. The firm had revenue of $391.58 million for the quarter, compared to analysts’ expectations of $380.03 million. Diodes had a net margin of 4.46% and a return on equity of 2.95%. The firm’s revenue was up 15.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.27 earnings per share. As a group, equities research analysts predict that Diodes will post 1.82 earnings per share for the current fiscal year.

Insider Buying and Selling at Diodes

In other news, CEO Gary Yu sold 2,900 shares of the firm’s stock in a transaction that occurred on Tuesday, February 3rd. The shares were sold at an average price of $60.85, for a total transaction of $176,465.00. Following the transaction, the chief executive officer directly owned 111,671 shares in the company, valued at approximately $6,795,180.35. This trade represents a 2.53% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Brett R. Whitmire sold 830 shares of the firm’s stock in a transaction that occurred on Tuesday, February 3rd. The stock was sold at an average price of $60.85, for a total transaction of $50,505.50. Following the transaction, the chief financial officer owned 67,141 shares in the company, valued at approximately $4,085,529.85. This trade represents a 1.22% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 116,205 shares of company stock valued at $7,837,213. 1.70% of the stock is owned by company insiders.

Hedge Funds Weigh In On Diodes

A number of hedge funds have recently modified their holdings of the business. Captrust Financial Advisors grew its position in shares of Diodes by 3.1% during the fourth quarter. Captrust Financial Advisors now owns 4,882 shares of the semiconductor company’s stock worth $241,000 after acquiring an additional 145 shares during the last quarter. Verdence Capital Advisors LLC grew its position in shares of Diodes by 2.3% during the fourth quarter. Verdence Capital Advisors LLC now owns 8,430 shares of the semiconductor company’s stock worth $416,000 after acquiring an additional 186 shares during the last quarter. Arizona State Retirement System grew its position in Diodes by 1.4% in the 3rd quarter. Arizona State Retirement System now owns 13,720 shares of the semiconductor company’s stock valued at $730,000 after buying an additional 189 shares during the last quarter. Farther Finance Advisors LLC grew its position in Diodes by 51.4% in the 4th 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 last quarter. Finally, Strs Ohio grew its position in Diodes by 2.2% in the 4th quarter. Strs Ohio now owns 9,100 shares of the semiconductor company’s stock valued at $449,000 after buying an additional 200 shares during the last quarter. 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.