Shares of Diodes Incorporated (NASDAQ:DIOD) dropped 7.4% during trading on Friday . The company traded as low as $39.51 and last traded at $39.74, approximately 607,634 shares traded hands during mid-day trading. An increase of 49% from the average daily volume of 407,458 shares. The stock had previously closed at $42.92.
DIOD has been the subject of a number of recent research reports. BidaskClub upgraded shares of Diodes from a “buy” rating to a “strong-buy” rating in a report on Friday. ValuEngine downgraded shares of Diodes from a “buy” rating to a “hold” rating in a report on Friday. Longbow Research downgraded shares of Diodes from a “buy” rating to a “neutral” rating in a report on Wednesday, April 17th. Finally, Zacks Investment Research downgraded shares of Diodes from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 9th. Four analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. Diodes currently has a consensus rating of “Buy” and an average price target of $43.00.
The company has a fifty day moving average of $37.10. The stock has a market cap of $2.17 billion, a price-to-earnings ratio of 16.70 and a beta of 1.22. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.20 and a current ratio of 3.05.
Diodes (NASDAQ:DIOD) last announced its quarterly earnings results on Tuesday, May 7th. The semiconductor company reported $0.69 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.60 by $0.09. The business had revenue of $302.29 million during the quarter, compared to the consensus estimate of $301.60 million. Diodes had a net margin of 9.44% and a return on equity of 13.69%. The business’s revenue was up 10.1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.48 EPS. On average, analysts anticipate that Diodes Incorporated will post 2.8 EPS for the current year.
In other news, VP Evan Yu sold 4,830 shares of the firm’s stock in a transaction that occurred on Tuesday, July 30th. The shares were sold at an average price of $43.50, for a total transaction of $210,105.00. Following the completion of the sale, the vice president now owns 44,026 shares in the company, valued at approximately $1,915,131. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Richard Dallas White sold 13,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 29th. The stock was sold at an average price of $31.73, for a total transaction of $412,490.00. Following the sale, the insider now owns 79,806 shares of the company’s stock, valued at approximately $2,532,244.38. The disclosure for this sale can be found here. Insiders have sold a total of 23,830 shares of company stock valued at $812,975 in the last 90 days. Insiders own 5.30% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Investors Research Corp purchased a new position in shares of Diodes during the 1st quarter worth approximately $35,000. Sandy Spring Bank purchased a new position in shares of Diodes during the 2nd quarter worth approximately $36,000. Advisors Asset Management Inc. boosted its position in shares of Diodes by 72.8% during the 1st quarter. Advisors Asset Management Inc. now owns 1,731 shares of the semiconductor company’s stock worth $60,000 after purchasing an additional 729 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Diodes by 58.8% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,204 shares of the semiconductor company’s stock worth $117,000 after purchasing an additional 1,186 shares during the period. Finally, Quantamental Technologies LLC purchased a new position in shares of Diodes during the 1st quarter worth approximately $156,000. Institutional investors and hedge funds own 80.75% of the company’s stock.
Diodes Company Profile (NASDAQ:DIOD)
Diodes Incorporated, together with its subsidiaries, designs, manufactures, and supplies application-specific standard products in the discrete, logic, and analog and mixed-signal semiconductor markets in Asia, North America, and Europe. It primarily focuses on low pin count semiconductor devices with one or more active or passive components.
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