Needham & Company LLC Has Lowered Expectations for Diodes (NASDAQ:DIOD) Stock Price

Key Points

• Needham cut its price target for Diodes from $110 to $100 but maintained a Buy rating, implying 46.28% upside from the share price cited in the report.
• Analyst sentiment remains positive overall: MarketBeat lists a Moderate Buy consensus and a $129.17 average target, with five Buy and two Hold ratings.
• Diodes beat quarterly earnings and revenue estimates, reporting EPS of $1.18 versus $1.05 expected and revenue of $532.59 million, up 35.8% year over year.

Diodes (NASDAQ:DIOD - Get Free Report) had its target price cut by equities research analysts at Needham & Company LLC from $110.00 to $100.00 in a research note issued on Friday, Benzinga reports. The firm currently has a "buy" rating on the semiconductor company's stock. Needham & Company LLC's target price indicates a potential upside of 46.28% from the company's current price.

Other equities analysts have also recently issued reports about the stock. Bank of America started coverage on shares of Diodes in a research report on Tuesday, October 6th. They set a "buy" rating and a $135.00 price target on the stock. Wall Street Zen raised Diodes from a "buy" rating to a "strong-buy" rating in a research note on Saturday, October 24th. Robert W. Baird set a $192.00 target price on Diodes in a report on Thursday, August 6th. Zacks Research lowered Diodes from a "strong-buy" rating to a "hold" rating in a report on Monday, October 5th. Finally, Weiss Ratings reissued a "hold (c)" rating on shares of Diodes in a research note on Tuesday, October 13th. Five analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $129.17.

Diodes Stock Performance

Shares of NASDAQ:DIOD opened at $68.36 on Friday. The firm's 50 day simple moving average is $90.31 and its 200 day simple moving average is $87.83. Diodes has a fifty-two week low of $42.28 and a fifty-two week high of $125.99. The company has a market capitalization of $3.15 billion, a price-to-earnings ratio of 36.95 and a beta of 1.96. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.17 and a quick ratio of 1.99.

Diodes (NASDAQ:DIOD - Get Free Report) last issued its quarterly earnings data on Thursday, November 5th. The semiconductor company reported $1.18 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.05 by $0.13. The firm had revenue of $532.59 million during the quarter, compared to analysts' expectations of $512.94 million. Diodes had a net margin of 5.27% and a return on equity of 4.33%. The business's revenue for the quarter was up 35.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.37 earnings per share. As a group, sell-side analysts forecast that Diodes will post 3.18 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Maryland State Retirement & Pension System raised its stake in shares of Diodes by 53.4% during the 3rd quarter. Maryland State Retirement & Pension System now owns 10,270 shares of the semiconductor company's stock worth $994,000 after purchasing an additional 3,574 shares in the last quarter. Lisanti Capital Growth LLC acquired a new stake in shares of Diodes in the 3rd quarter valued at approximately $4,067,000. Leuthold Group LLC boosted its holdings in shares of Diodes by 64.1% in the 3rd quarter. Leuthold Group LLC now owns 7,844 shares of the semiconductor company's stock valued at $759,000 after buying an additional 3,065 shares during the last quarter. Fulcrum Asset Management LLP grew its stake in shares of Diodes by 788.3% in the third quarter. Fulcrum Asset Management LLP now owns 12,258 shares of the semiconductor company's stock valued at $1,191,000 after buying an additional 10,878 shares in the last quarter. Finally, Ethic Inc. grew its stake in shares of Diodes by 15.4% in the third quarter. Ethic Inc. now owns 2,242 shares of the semiconductor company's stock valued at $217,000 after buying an additional 299 shares in the last quarter. 99.23% of the stock is currently owned by institutional investors.

Diodes Company Profile

Diodes Incorporated NASDAQ: DIOD is a semiconductor manufacturer that designs, manufactures and supplies discrete, analog, and mixed-signal semiconductor products. Its portfolio includes diodes, rectifiers, transistors, MOSFETs, power-management devices, protection products, logic components, LED drivers, and application-specific semiconductor solutions.

The company's products are used in power conversion and management, signal processing, circuit protection, lighting, automotive systems, communications equipment, and consumer and industrial electronics.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.