Diodes (NASDAQ:DIOD) Price Target Lowered to $55.00 at Benchmark

Diodes (NASDAQ:DIOD - Get Free Report) had its target price reduced by stock analysts at Benchmark from $65.00 to $55.00 in a research note issued on Monday,Benzinga reports. The firm currently has a "buy" rating on the semiconductor company's stock. Benchmark's price target indicates a potential upside of 13.12% from the company's current price.

Several other equities research analysts have also issued reports on DIOD. Truist Financial decreased their price target on shares of Diodes from $63.00 to $53.00 and set a "hold" rating on the stock in a report on Wednesday, February 12th. Baird R W upgraded shares of Diodes from a "hold" rating to a "strong-buy" rating in a research report on Monday, April 7th. Finally, Robert W. Baird upgraded shares of Diodes from a "neutral" rating to an "outperform" rating and set a $50.00 price target on the stock in a research report on Monday, April 7th. Two investment analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $52.67.

Diodes Stock Performance

NASDAQ:DIOD traded up $0.15 during mid-day trading on Monday, reaching $48.62. 411,594 shares of the company's stock were exchanged, compared to its average volume of 425,195. Diodes has a one year low of $32.93 and a one year high of $86.74. The firm has a market capitalization of $2.26 billion, a PE ratio of 51.18 and a beta of 1.37. The business's fifty day simple moving average is $41.13 and its two-hundred day simple moving average is $52.87. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.99 and a current ratio of 3.26.

Diodes (NASDAQ:DIOD - Get Free Report) last released its earnings results on Thursday, May 8th. The semiconductor company reported $0.19 EPS for the quarter, beating the consensus estimate of $0.18 by $0.01. Diodes had a net margin of 3.36% and a return on equity of 3.28%. The firm had revenue of $332.11 million for the quarter, compared to analyst estimates of $323.28 million. During the same period last year, the firm earned $0.28 EPS. The business's quarterly revenue was up 10.0% compared to the same quarter last year. Analysts anticipate that Diodes will post 1.82 earnings per share for the current fiscal year.

Diodes announced that its Board of Directors has approved a share buyback plan on Thursday, May 8th that allows the company to buyback $100.00 million in shares. This buyback authorization allows the semiconductor company to reacquire up to 5.4% of its stock through open market purchases. Stock buyback plans are generally a sign that the company's management believes its stock is undervalued.

Institutional Trading of Diodes

A number of hedge funds and other institutional investors have recently bought and sold shares of DIOD. Woodline Partners LP purchased a new stake in shares of Diodes in the first quarter valued at about $559,000. Caxton Associates LLP bought a new position in Diodes during the first quarter worth about $930,000. Goldman Sachs Group Inc. boosted its position in Diodes by 13.8% during the first quarter. Goldman Sachs Group Inc. now owns 391,005 shares of the semiconductor company's stock worth $16,880,000 after purchasing an additional 47,500 shares during the period. Scientech Research LLC bought a new position in shares of Diodes in the first quarter valued at approximately $668,000. Finally, Petrus Trust Company LTA bought a new position in shares of Diodes in the first quarter valued at approximately $298,000. Institutional investors own 99.23% of the company's stock.

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.