Diodes (NASDAQ:DIOD) Given New $100.00 Price Target at Robert W. Baird

Key Points

• Robert W. Baird raised its price target on Diodes to $100 (from $80) and maintained an "outperform" rating, implying roughly a 35.8% upside from the prior close.
• Diodes beat the quarter's expectations with $0.34 EPS vs. $0.26 expected and revenue of $391.6M vs. $380.0M, reflecting 15.4% year‑over‑year revenue growth.
• Analyst sentiment is mixed—two Buy, two Hold and one Sell—leaving a MarketBeat consensus rating of Hold and a consensus price target of $82.33.

Diodes (NASDAQ:DIOD - Get Free Report) had its price target increased by Robert W. Baird from $80.00 to $100.00 in a report released on Tuesday,Benzinga reports. The firm presently has an "outperform" rating on the semiconductor company's stock. Robert W. Baird's price objective would suggest a potential upside of 35.83% from the stock's previous close.

A number of other equities research analysts also recently issued reports on DIOD. Zacks Research downgraded shares of Diodes from a "hold" rating to a "strong sell" rating in a research note on Wednesday, February 11th. Wall Street Zen raised shares of Diodes from a "hold" rating to a "buy" rating in a research note on Saturday, February 14th. Weiss Ratings raised shares of Diodes from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Wednesday, January 21st. Benchmark boosted their price target on shares of Diodes from $62.00 to $80.00 and gave the company a "buy" rating in a research note on Wednesday, February 11th. Finally, Truist Financial boosted their price target on shares of Diodes from $54.00 to $67.00 and gave the company a "hold" rating in a research note on Wednesday, February 11th. Two investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, Diodes has an average rating of "Hold" and a consensus price target of $82.33.

Diodes Price Performance

Shares of DIOD stock opened at $73.62 on Tuesday. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.32 and a quick ratio of 2.08. The firm's 50-day moving average is $66.22 and its two-hundred day moving average is $56.84. Diodes has a 12 month low of $33.13 and a 12 month high of $81.71. The company has a market capitalization of $3.38 billion, a PE ratio of 51.85 and a beta of 1.58.

Diodes (NASDAQ:DIOD - Get Free Report) last released its quarterly earnings results on Tuesday, February 10th. The semiconductor company reported $0.34 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.26 by $0.08. The business had revenue of $391.58 million for the quarter, compared to the consensus estimate of $380.03 million. Diodes had a net margin of 4.46% and a return on equity of 2.95%. The business's revenue was up 15.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.27 EPS. Analysts predict that Diodes will post 1.82 earnings per share for the current year.

Insider Activity at Diodes

In related news, CFO Brett R. Whitmire sold 830 shares of the company's stock in a transaction on Tuesday, February 3rd. The shares were sold at an average price of $60.85, for a total value of $50,505.50. Following the completion of the sale, the chief financial officer owned 67,141 shares in the company, valued at $4,085,529.85. This represents a 1.22% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Gary Yu sold 2,900 shares of the company's stock in a transaction on Tuesday, February 3rd. The shares were sold at an average price of $60.85, for a total transaction of $176,465.00. Following the completion of the sale, the chief executive officer owned 111,671 shares of the company's stock, valued at approximately $6,795,180.35. This trade represents a 2.53% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 116,205 shares of company stock worth $7,837,213 over the last ninety days. 1.90% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Diodes

A number of large investors have recently made changes to their positions in the stock. Salomon & Ludwin LLC acquired a new stake in Diodes in the 3rd quarter valued at about $25,000. EverSource Wealth Advisors LLC boosted its position in shares of Diodes by 77.4% in the second quarter. EverSource Wealth Advisors LLC now owns 470 shares of the semiconductor company's stock worth $25,000 after acquiring an additional 205 shares during the last quarter. Farther Finance Advisors LLC boosted its position in shares of Diodes by 51.4% in the fourth quarter. Farther Finance Advisors LLC now owns 589 shares of the semiconductor company's stock worth $29,000 after acquiring an additional 200 shares during the last quarter. Geneos Wealth Management Inc. acquired a new position in Diodes during the second quarter valued at approximately $30,000. Finally, MAI Capital Management lifted its position in Diodes by 150.0% during the third quarter. MAI Capital Management now owns 685 shares of the semiconductor company's stock valued at $36,000 after buying an additional 411 shares in the last quarter. Hedge funds and other institutional investors own 99.23% of the company's stock.

Diodes Company Profile

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.

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