Diodes (NASDAQ:DIOD) Cut to Strong Sell at Zacks Research

Zacks Research lowered shares of Diodes (NASDAQ:DIOD) from a hold rating to a strong sell rating in a research report sent to investors on Wednesday,Zacks.com reports.

Several other brokerages have also recently issued reports on DIOD. Weiss Ratings raised shares of Diodes from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, January 21st. Truist Financial lifted their price target on shares of Diodes from $54.00 to $67.00 and gave the stock a “hold” rating in a research report on Wednesday. Benchmark upped their price target on Diodes from $62.00 to $80.00 and gave the company a “buy” rating in a report on Wednesday. Finally, Wall Street Zen lowered Diodes from a “buy” rating to a “hold” rating in a research note on Saturday, November 8th. Two analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Diodes currently has an average rating of “Hold” and a consensus price target of $65.67.

Diodes Stock Down 1.4%

Shares of DIOD stock opened at $71.07 on Wednesday. Diodes has a 1 year low of $32.93 and a 1 year high of $81.71. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.09 and a current ratio of 3.32. The business’s fifty day moving average is $55.74 and its 200-day moving average is $53.12. The stock has a market cap of $3.26 billion, a PE ratio of 50.05 and a beta of 1.66.

Diodes (NASDAQ:DIOD) last announced its quarterly earnings data 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 business had revenue of $391.58 million during the quarter, compared to analyst estimates of $380.03 million. Diodes had a return on equity of 2.95% and a net margin of 4.46%.The company’s revenue was up 15.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.27 earnings per share. Equities analysts expect that Diodes will post 1.82 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Gary Yu sold 2,900 shares of the stock in a transaction dated Tuesday, February 3rd. The stock was sold at an average price of $60.85, for a total value of $176,465.00. Following the completion of the sale, the chief executive officer directly owned 111,671 shares of the company’s stock, valued at approximately $6,795,180.35. This represents a 2.53% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jin Zhao sold 525 shares of the firm’s stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $59.19, for a total value of $31,074.75. Following the sale, the insider owned 49,980 shares of the company’s stock, valued at $2,958,316.20. The trade was a 1.04% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 5,205 shares of company stock worth $315,853. 1.90% of the stock is currently owned by corporate insiders.

Institutional Trading of Diodes

A number of hedge funds have recently made changes to their positions in DIOD. Bessemer Group Inc. lifted its position in shares of Diodes by 178,733.7% in the third quarter. Bessemer Group Inc. now owns 366,609 shares of the semiconductor company’s stock worth $19,508,000 after buying an additional 366,404 shares during the last quarter. Allianz Asset Management GmbH increased its holdings in shares of Diodes by 27.0% during the 3rd quarter. Allianz Asset Management GmbH now owns 145,889 shares of the semiconductor company’s stock valued at $7,763,000 after acquiring an additional 31,013 shares during the last quarter. Rhumbline Advisers increased its holdings in shares of Diodes by 7.9% during the 2nd quarter. Rhumbline Advisers now owns 146,315 shares of the semiconductor company’s stock valued at $7,739,000 after acquiring an additional 10,744 shares during the last quarter. Pacer Advisors Inc. bought a new position in shares of Diodes in the 3rd quarter valued at approximately $7,393,000. Finally, Vanguard Personalized Indexing Management LLC raised its stake in shares of Diodes by 51.0% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 8,304 shares of the semiconductor company’s stock valued at $439,000 after acquiring an additional 2,806 shares in the last quarter. 99.23% of the stock is 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.