Diodes (NASDAQ:DIOD) Upgraded by Truist Financial to Buy Rating

Key Points

• Truist upgraded Diodes from a "hold" to a "buy" and set a $98 price target, implying about a 17.97% upside from the current share price.
• Diodes beat quarterly estimates, reporting $0.34 EPS vs. $0.26 expected and revenue of $391.6M, up 15.4% year-over-year.
• The analyst picture is mixed—several firms have raised targets (Robert W. Baird to $100), but the consensus remains a "Hold" with an average target of $92.67.

Diodes (NASDAQ:DIOD - Get Free Report) was upgraded by investment analysts at Truist Financial from a "hold" rating to a "buy" rating in a report issued on Monday,Finviz reports. The brokerage presently has a $98.00 target price on the semiconductor company's stock. Truist Financial's price objective would suggest a potential upside of 17.97% from the company's current price.

A number of other research analysts have also weighed in on DIOD. Robert W. Baird lifted their price target on shares of Diodes from $80.00 to $100.00 and gave the company an "outperform" rating in a research note on Tuesday, April 7th. Zacks Research lowered 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. Finally, Benchmark boosted their price objective on shares of Diodes from $62.00 to $80.00 and gave the stock a "buy" rating in a research report on Wednesday, February 11th. Three analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $92.67.

Diodes Stock Performance

Shares of DIOD opened at $83.07 on Monday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.08 and a current ratio of 3.32. Diodes has a twelve month low of $33.13 and a twelve month high of $85.54. The firm's 50 day moving average price is $67.81 and its two-hundred day moving average price is $57.53. The firm has a market cap of $3.82 billion, a P/E ratio of 58.50 and a beta of 1.58.

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

Insider Buying and Selling at Diodes

In related news, SVP Emily Yang sold 950 shares of the business'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 $57,807.50. Following the transaction, the senior vice president directly owned 74,032 shares in the company, valued at approximately $4,504,847.20. The trade was a 1.27% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Keh Shew Lu sold 111,000 shares of the business's stock in a transaction on Friday, February 20th. The stock was sold at an average price of $67.76, for a total transaction of $7,521,360.00. Following the transaction, the director owned 180,131 shares in the company, valued at approximately $12,205,676.56. The trade was a 38.13% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 116,205 shares of company stock valued at $7,837,213 in the last 90 days. Company insiders own 1.70% of the company's stock.

Hedge Funds Weigh In On Diodes

Institutional investors have recently added to or reduced their stakes in the company. Salomon & Ludwin LLC acquired a new position in Diodes during the third quarter worth $25,000. EverSource Wealth Advisors LLC increased its holdings 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 valued at $25,000 after purchasing an additional 205 shares during the last quarter. Farther Finance Advisors LLC increased its holdings 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 valued at $29,000 after purchasing an additional 200 shares during the last quarter. Geneos Wealth Management Inc. acquired a new position in shares of Diodes in the second quarter valued at $30,000. Finally, MAI Capital Management lifted its stake in shares of Diodes by 150.0% during the 3rd quarter. MAI Capital Management now owns 685 shares of the semiconductor company's stock worth $36,000 after buying an additional 411 shares during the last quarter. 99.23% of the stock is currently owned by institutional investors and hedge funds.

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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