Insider Selling: Corp Silitek Sells 25,787 Shares of Diodes Stock (DIOD)
Diodes (NASDAQ:DIOD) major shareholder Corp Silitek sold 25,787 shares of Diodes stock on the open market in a transaction that occurred on Tuesday, August 26th. The stock was sold at an average price of $25.63, for a total value of $660,920.81. Following the transaction, the insider now directly owns 8,065,778 shares of the company’s stock, valued at approximately $206,725,890. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Major shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.
A number of research firms have recently commented on DIOD. 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 research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $31.93.
Diodes (NASDAQ:DIOD) traded down 0.90% during mid-day trading on Wednesday, hitting $25.32. The stock had a trading volume of 154,015 shares. Diodes has a 1-year low of $19.26 and a 1-year high of $30.79. The stock’s 50-day moving average is $27.03 and its 200-day moving average is $26.70. The company has a market cap of $1.204 billion and a P/E ratio of 25.83.
Diodes (NASDAQ:DIOD) last announced its earnings results on Thursday, August 7th. The company reported $0.38 earnings per share (EPS) for the quarter, beating the 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 in the previous year, the company posted $0.33 earnings per share. The company’s revenue for the quarter was up 4.1% on a year-over-year basis. Analysts expect that Diodes will post $1.46 EPS for the current fiscal year.
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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