Diodes (NASDAQ:DIOD) Hits New 1-Year Low – Here’s Why

Diodes Incorporated (NASDAQ:DIOD) shares reached a new 52-week low during mid-day trading on Wednesday . The company traded as low as $57.88 and last traded at $57.98, with a volume of 17152 shares. The stock had previously closed at $58.76.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on DIOD shares. Truist Financial reduced their target price on shares of Diodes from $69.00 to $62.00 and set a “hold” rating for the company in a research note on Friday, November 8th. Benchmark decreased their price objective on shares of Diodes from $83.00 to $75.00 and set a “buy” rating for the company in a research note on Monday. Finally, StockNews.com upgraded Diodes from a “sell” rating to a “hold” rating in a research note on Monday. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $72.80.

Diodes Trading Down 2.4 %

The stock has a market cap of $2.66 billion, a PE ratio of 43.38 and a beta of 1.32. The company has a quick ratio of 2.21, a current ratio of 3.58 and a debt-to-equity ratio of 0.01. The stock’s fifty day moving average price is $62.36 and its 200 day moving average price is $69.07.

Insider Transactions at Diodes

In other Diodes news, SVP Emily Yang sold 1,000 shares of the company’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $70.48, for a total transaction of $70,480.00. Following the transaction, the senior vice president now owns 59,820 shares in the company, valued at approximately $4,216,113.60. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CFO Brett R. Whitmire sold 1,900 shares of Diodes stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $69.99, for a total transaction of $132,981.00. Following the transaction, the chief financial officer now owns 46,365 shares in the company, valued at $3,245,086.35. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Emily Yang sold 1,000 shares of the firm’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $70.48, for a total value of $70,480.00. Following the sale, the senior vice president now directly owns 59,820 shares in the company, valued at approximately $4,216,113.60. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 24,182 shares of company stock worth $1,640,921 over the last quarter. 2.30% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in DIOD. Vanguard Group Inc. lifted its holdings in shares of Diodes by 2.3% in the 1st quarter. Vanguard Group Inc. now owns 5,782,828 shares of the semiconductor company’s stock worth $407,689,000 after buying an additional 132,101 shares during the period. Seven Eight Capital LP bought a new position in shares of Diodes during the first quarter valued at approximately $1,055,000. Bessemer Group Inc. increased its holdings in Diodes by 7.4% during the first quarter. Bessemer Group Inc. now owns 144,875 shares of the semiconductor company’s stock valued at $10,213,000 after buying an additional 9,924 shares during the period. William Blair Investment Management LLC raised its stake in Diodes by 19.0% in the first quarter. William Blair Investment Management LLC now owns 479,614 shares of the semiconductor company’s stock worth $33,813,000 after buying an additional 76,447 shares in the last quarter. Finally, Boston Partners purchased a new stake in Diodes during the first quarter worth $821,000. 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.