Diodes (NASDAQ:DIOD) Reaches New 1-Year Low – Here’s Why

Diodes Incorporated (NASDAQ:DIOD) shares hit a new 52-week low during mid-day trading on Tuesday . The company traded as low as $52.34 and last traded at $52.23, with a volume of 233942 shares traded. The stock had previously closed at $53.30.

Analyst Ratings Changes

Several equities analysts have commented on DIOD shares. Benchmark dropped their target price on Diodes from $83.00 to $75.00 and set a “buy” rating for the company in a research report on Monday, November 11th. Truist Financial dropped their price objective on shares of Diodes from $69.00 to $62.00 and set a “hold” rating for the company in a report on Friday, November 8th. Finally, StockNews.com raised shares of Diodes from a “sell” rating to a “hold” rating in a report on Monday, November 11th.

Diodes Price Performance

The company has a debt-to-equity ratio of 0.01, a current ratio of 3.58 and a quick ratio of 2.21. The company has a fifty day moving average of $61.38 and a 200 day moving average of $62.95. The firm has a market capitalization of $2.43 billion, a P/E ratio of 39.63 and a beta of 1.31.

Insider Buying and Selling

In other Diodes news, CFO Brett R. Whitmire sold 830 shares of the firm’s stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $56.04, for a total value of $46,513.20. Following the completion of the sale, the chief financial officer now directly owns 51,525 shares in the company, valued at approximately $2,887,461. This trade represents a 1.59 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, President Gary Yu sold 2,900 shares of Diodes stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $56.04, for a total transaction of $162,516.00. Following the completion of the sale, the president now directly owns 79,697 shares of the company’s stock, valued at approximately $4,466,219.88. This trade represents a 3.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 4,680 shares of company stock valued at $262,267 over the last 90 days. Company insiders own 2.30% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Victory Capital Management Inc. raised its holdings in Diodes by 130.9% during the third quarter. Victory Capital Management Inc. now owns 1,744,135 shares of the semiconductor company’s stock worth $111,782,000 after buying an additional 988,671 shares during the last quarter. FMR LLC increased its position in shares of Diodes by 19.6% during the third quarter. FMR LLC now owns 5,785,134 shares of the semiconductor company’s stock worth $370,769,000 after acquiring an additional 947,118 shares in the last quarter. Cinctive Capital Management LP acquired a new stake in shares of Diodes in the 3rd quarter worth about $7,791,000. Raymond James Financial Inc. acquired a new stake in shares of Diodes in the 4th quarter worth about $7,063,000. Finally, Allspring Global Investments Holdings LLC lifted its position in Diodes by 50.1% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 257,633 shares of the semiconductor company’s stock valued at $15,795,000 after acquiring an additional 85,943 shares in the last quarter. 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.