Diodes (NASDAQ:DIOD) Price Target Raised to $62.00 at Benchmark

Diodes (NASDAQ:DIOD - Free Report) had its price target raised by Benchmark from $55.00 to $62.00 in a research report report published on Friday,Benzinga reports. The firm currently has a buy rating on the semiconductor company's stock.

DIOD has been the subject of several other reports. Robert W. Baird raised shares of Diodes from a "neutral" rating to an "outperform" rating and set a $50.00 price target for the company in a research report on Monday, April 7th. Baird R W raised shares of Diodes from a "hold" rating to a "strong-buy" rating in a research report on Monday, April 7th. Two equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $55.00.

Diodes Stock Down 3.6%

Diodes stock traded down $1.81 during midday trading on Friday, hitting $49.15. 400,082 shares of the company's stock were exchanged, compared to its average volume of 437,105. 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 has a 12 month low of $32.93 and a 12 month high of $86.74. The firm has a 50-day moving average of $42.65 and a two-hundred day moving average of $51.18. The company has a market cap of $2.28 billion, a PE ratio of 51.74 and a beta of 1.42.

Diodes (NASDAQ:DIOD - Get Free Report) last issued its earnings results on Thursday, May 8th. The semiconductor company reported $0.19 earnings per share (EPS) for the quarter, topping 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 company had revenue of $332.11 million for the quarter, compared to analysts' expectations of $323.28 million. During the same period in the prior year, the business earned $0.28 EPS. The firm's quarterly revenue was up 10.0% on a year-over-year basis. As a group, analysts expect that Diodes will post 1.82 earnings per share for the current fiscal year.

Diodes announced that its board has approved a stock buyback plan on Thursday, May 8th that permits the company to buyback $100.00 million in shares. This buyback authorization permits the semiconductor company to purchase up to 5.4% of its shares through open market purchases. Shares buyback plans are typically an indication that the company's board believes its stock is undervalued.

Institutional Trading of Diodes

Several hedge funds have recently modified their holdings of the company. Inspire Investing LLC lifted its position in shares of Diodes by 22.5% during the first quarter. Inspire Investing LLC now owns 7,989 shares of the semiconductor company's stock valued at $345,000 after buying an additional 1,469 shares during the last quarter. Jane Street Group LLC raised its position in shares of Diodes by 1,405.2% in the 1st quarter. Jane Street Group LLC now owns 126,858 shares of the semiconductor company's stock valued at $5,476,000 after purchasing an additional 118,430 shares during the last quarter. Bayforest Capital Ltd purchased a new position in shares of Diodes in the 1st quarter valued at approximately $260,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Diodes by 6.8% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 104,719 shares of the semiconductor company's stock valued at $4,521,000 after purchasing an additional 6,708 shares during the last quarter. Finally, Woodline Partners LP purchased a new position in shares of Diodes in the 1st quarter valued at approximately $559,000. 99.23% of the stock is owned by hedge funds and other institutional investors.

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.