Diodes (NASDAQ:DIOD) Reaches New 12-Month Low – What’s Next?

Shares of Diodes Incorporated (NASDAQ:DIOD) hit a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $46.56 and last traded at $48.23, with a volume of 563336 shares trading hands. The stock had previously closed at $47.65.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on DIOD shares. StockNews.com raised shares of Diodes from a “sell” rating to a “hold” rating in a research note on Monday, November 11th. Truist Financial cut their price objective on shares of Diodes from $63.00 to $53.00 and set a “hold” rating on the stock in a research report on Wednesday, February 12th. Finally, Benchmark cut their price objective on shares of Diodes from $74.00 to $65.00 and set a “buy” rating on the stock in a research report on Wednesday, February 12th.

Diodes Price Performance

The stock has a market capitalization of $2.23 billion, a price-to-earnings ratio of 50.77 and a beta of 1.31. The company has a quick ratio of 1.99, a current ratio of 3.26 and a debt-to-equity ratio of 0.01. The business’s 50 day simple moving average is $58.22 and its 200-day simple moving average is $61.21.

Diodes (NASDAQ:DIOD) last issued its quarterly earnings data on Tuesday, February 11th. The semiconductor company reported $0.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.27). Diodes had a net margin of 3.36% and a return on equity of 3.28%. On average, research analysts forecast that Diodes Incorporated will post 1.82 earnings per share for the current year.

Insider Transactions at Diodes

In other news, CFO Brett R. Whitmire sold 830 shares of the firm’s stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $56.04, for a total transaction of $46,513.20. Following the completion of the sale, the chief financial officer now owns 51,525 shares of the company’s stock, valued at $2,887,461. This trade represents a 1.59 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, SVP Emily Yang sold 950 shares of the firm’s stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $56.04, for a total transaction of $53,238.00. Following the sale, the senior vice president now directly owns 65,107 shares of the company’s stock, valued at approximately $3,648,596.28. This trade represents a 1.44 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 4,680 shares of company stock valued at $262,267 in the last quarter. 2.30% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Diodes

Large investors have recently bought and sold shares of the stock. Hood River Capital Management LLC bought a new stake in shares of Diodes during the 4th quarter worth $72,037,000. Victory Capital Management Inc. raised its position in shares of Diodes by 130.9% in the third quarter. Victory Capital Management Inc. now owns 1,744,135 shares of the semiconductor company’s stock worth $111,782,000 after buying an additional 988,671 shares in the last quarter. FMR LLC increased its position in shares of Diodes by 19.6% in the third quarter. FMR LLC now owns 5,785,134 shares of the semiconductor company’s stock worth $370,769,000 after purchasing an additional 947,118 shares during the last quarter. Norges Bank purchased a new stake in shares of Diodes during the 4th quarter valued at $33,933,000. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Diodes by 8.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,238,567 shares of the semiconductor company’s stock valued at $138,053,000 after buying an additional 168,545 shares in the last quarter. 99.23% of the stock is currently owned by institutional investors.

About Diodes

Diodes Incorporated, together with its subsidiaries, manufactures and supplies application-specific standard products in the broad discrete, logic, analog, and mixed-signal semiconductor markets worldwide. The company offers discrete semiconductor products, such as MOSFETs, SiC MOSFETs; data line protection, power line protection, thyristers, USB Type-C protection, and transient voltage suppressors; Schottky, small signal switching, Zener, and SiC diodes; bridges, super barrier, Schottky, Schottky bridge, and fast/ultra-fast rectifiers; and bipolar, avalanche, gate driver, and pre-bias transistors.