Insider Selling: Diodes major shareholder Sells 274,213 Shares of Stock (DIOD)
Diodes (NASDAQ:DIOD) major shareholder Corp Silitek sold 274,213 shares of the stock in a transaction that occurred on Monday, August 25th. The shares were sold at an average price of $25.75, for a total value of $7,060,984.75. Following the completion of the transaction, the insider now directly owns 8,091,565 shares in the company, valued at approximately $208,357,799. The transaction was disclosed in a filing with the SEC, which is available at this link. Large shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.
Shares of Diodes (NASDAQ:DIOD) traded down 0.51% during mid-day trading on Tuesday, hitting $25.47. 84,840 shares of the company’s stock traded hands. Diodes has a one year low of $19.26 and a one year high of $30.79. The stock’s 50-day moving average is $27.08 and its 200-day moving average is $26.7. The company has a market cap of $1.211 billion and a P/E ratio of 25.88.
Diodes (NASDAQ:DIOD) last announced its earnings results on Thursday, August 7th. The company reported $0.38 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.35 by $0.03. The company had revenue of $223.20 million for the quarter, compared to the consensus estimate of $222.93 million. During the same quarter last year, the company posted $0.33 earnings per share. Diodes’s revenue was up 4.1% compared to the same quarter last year. On average, analysts predict that Diodes will post $1.46 earnings per share for the current fiscal year.
DIOD has been the subject of a number of recent research reports. Analysts at Zacks downgraded shares of Diodes from an “outperform” rating to a “neutral” rating in a research note on Monday, August 11th. They now have a $32.60 price target on the stock. Separately, analysts at Raymond James reiterated an “outperform” rating on shares of Diodes in a research note on Friday, August 8th. They now have a $32.00 price target on the stock, down previously from $33.00. Finally, analysts at Raymond James reiterated an “outperform” rating on shares of Diodes in a research note on Tuesday, June 10th. They now have a $33.00 price target on the stock, up previously from $30.00. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $31.93.
Diodes Incorporated is a global manufacturer and supplier of application specific standard products within the discrete, logic and analog semiconductor markets, serving the consumer electronics, computing, communications, industrial and automotive markets.
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