Diodes (NASDAQ:DIOD) Stock Price Down 6.8% – Here’s What Happened

Diodes Incorporated (NASDAQ:DIOD)’s share price was down 6.8% during trading on Friday . The company traded as low as $106.00 and last traded at $107.1270. 54,559 shares changed hands during trading, a decline of 90% from the average session volume of 544,859 shares. The stock had previously closed at $114.97.

Analyst Ratings Changes

Several analysts have recently weighed in on DIOD shares. Robert W. Baird set a $120.00 target price on shares of Diodes in a report on Friday, May 8th. Zacks Research cut shares of Diodes from a “strong-buy” rating to a “hold” rating in a report on Monday, June 15th. Finally, Truist Financial raised their price objective on shares of Diodes from $98.00 to $139.00 and gave the company a “buy” rating in a research report on Friday, May 8th. Three research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, Diodes has an average rating of “Moderate Buy” and a consensus target price of $113.00.

Diodes Price Performance

The stock has a fifty day moving average of $105.73 and a two-hundred day moving average of $77.53. The stock has a market cap of $4.78 billion, a price-to-earnings ratio of 56.60 and a beta of 1.90. The company has a quick ratio of 1.97, a current ratio of 3.17 and a debt-to-equity ratio of 0.01.

Diodes (NASDAQ:DIOD) last released its earnings results on Thursday, May 7th. The semiconductor company reported $0.43 EPS for the quarter, beating analysts’ consensus estimates of $0.35 by $0.08. The company had revenue of $405.47 million during the quarter, compared to the consensus estimate of $396.33 million. Diodes had a return on equity of 3.48% and a net margin of 5.50%.Diodes’s quarterly revenue was up 22.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.19 earnings per share. On average, equities research analysts anticipate that Diodes Incorporated will post 2.58 earnings per share for the current year.

Insiders Place Their Bets

In other Diodes news, CTO Francis Tang sold 15,330 shares of the company’s stock in a transaction dated Friday, May 29th. The shares were sold at an average price of $112.04, for a total transaction of $1,717,573.20. Following the transaction, the chief technology officer directly owned 71,438 shares in the company, valued at approximately $8,003,913.52. This represents a 17.67% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Jin Zhao sold 3,689 shares of the stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $106.86, for a total transaction of $394,206.54. Following the completion of the transaction, the insider directly owned 43,531 shares of the company’s stock, valued at approximately $4,651,722.66. This trade represents a 7.81% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 70,981 shares of company stock worth $7,616,906. Insiders own 1.70% of the company’s stock.

Institutional Investors Weigh In On Diodes

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. AQR Capital Management LLC grew its holdings in shares of Diodes by 12.4% in the 1st quarter. AQR Capital Management LLC now owns 6,028 shares of the semiconductor company’s stock worth $260,000 after acquiring an additional 663 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Diodes by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 27,148 shares of the semiconductor company’s stock valued at $1,172,000 after purchasing an additional 1,186 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in Diodes by 13.8% during the first quarter. Goldman Sachs Group Inc. now owns 391,005 shares of the semiconductor company’s stock worth $16,880,000 after purchasing an additional 47,500 shares during the last quarter. Woodline Partners LP acquired a new position in Diodes during the first quarter worth $559,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in Diodes by 6.8% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 104,719 shares of the semiconductor company’s stock worth $4,521,000 after purchasing an additional 6,708 shares in the last quarter. 99.23% of the stock is currently owned by institutional investors and hedge funds.

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.