Diodes (NASDAQ:DIOD) Price Target Cut to $55.00 by Analysts at Benchmark

Diodes (NASDAQ:DIOD - Get Free Report) had its price target dropped by stock analysts at Benchmark from $65.00 to $55.00 in a research report issued on Monday,Benzinga reports. The firm presently has a "buy" rating on the semiconductor company's stock. Benchmark's price objective would suggest a potential upside of 22.47% from the stock's previous close.

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

Diodes Stock Performance

DIOD stock opened at $44.91 on Monday. The company has a market capitalization of $2.09 billion, a price-to-earnings ratio of 47.27 and a beta of 1.37. The firm has a 50 day moving average of $41.09 and a two-hundred day moving average of $53.26. Diodes has a 12 month low of $32.93 and a 12 month high of $86.74. The company has a quick ratio of 1.99, a current ratio of 3.26 and a debt-to-equity ratio of 0.01.

Diodes (NASDAQ:DIOD - Get Free Report) last announced its earnings results on Thursday, May 8th. The semiconductor company reported $0.19 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.18 by $0.01. Diodes had a return on equity of 3.28% and a net margin of 3.36%. The firm had revenue of $332.11 million during the quarter, compared to analysts' expectations of $323.28 million. During the same quarter in the prior year, the business earned $0.28 earnings per share. The company's revenue was up 10.0% on a year-over-year basis. As a group, equities analysts anticipate that Diodes will post 1.82 EPS for the current fiscal year.

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

Institutional Trading of Diodes

Large investors have recently bought and sold shares of the business. Vanguard Group Inc. grew its position in shares of Diodes by 1.8% during the 4th quarter. Vanguard Group Inc. now owns 5,910,766 shares of the semiconductor company's stock worth $364,517,000 after buying an additional 102,263 shares during the period. FMR LLC grew its holdings in Diodes by 2.0% in the fourth quarter. FMR LLC now owns 5,902,006 shares of the semiconductor company's stock worth $363,977,000 after purchasing an additional 116,872 shares during the period. Dimensional Fund Advisors LP increased its stake in Diodes by 8.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,238,567 shares of the semiconductor company's stock valued at $138,053,000 after purchasing an additional 168,545 shares in the last quarter. Earnest Partners LLC increased its stake in Diodes by 0.4% in the fourth quarter. Earnest Partners LLC now owns 2,119,097 shares of the semiconductor company's stock valued at $130,685,000 after purchasing an additional 7,552 shares in the last quarter. Finally, Victory Capital Management Inc. increased its stake in Diodes by 9.4% in the fourth quarter. Victory Capital Management Inc. now owns 1,907,509 shares of the semiconductor company's stock valued at $117,636,000 after purchasing an additional 163,374 shares in the last quarter. 99.23% of the stock is currently owned by institutional investors and hedge funds.

Diodes Company Profile

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.

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