Diodes (NASDAQ:DIOD) Given New $100.00 Price Target at Needham & Company LLC

Diodes (NASDAQ:DIOD) had its price target decreased by investment analysts at Needham & Company LLC from $110.00 to $100.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm currently has a “buy” rating on the semiconductor company’s stock. Needham & Company LLC‘s target price points to a potential upside of 46.28% from the stock’s previous close.

Other analysts have also recently issued reports about the company. Zacks Research cut Diodes from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 5th. Robert W. Baird set a $192.00 target price on Diodes in a research note on Thursday, August 6th. Bank of America started coverage on Diodes in a report on Tuesday, October 6th. They set a “buy” rating and a $135.00 target price on the stock. Wall Street Zen upgraded Diodes from a “buy” rating to a “strong-buy” rating in a research note on Saturday, October 24th. Finally, Truist Financial cut their price target on Diodes from $139.00 to $133.00 and set a “buy” rating for the company in a report on Thursday, August 6th. Five analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, Diodes presently has a consensus rating of “Moderate Buy” and an average target price of $129.17.

Diodes Stock Down 14.0%

Shares of DIOD stock opened at $68.36 on Friday. Diodes has a 52-week low of $42.28 and a 52-week high of $125.99. The stock has a market cap of $3.15 billion, a price-to-earnings ratio of 36.95 and a beta of 1.96. The firm’s 50-day moving average is $90.31 and its 200-day moving average is $87.83. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.99 and a current ratio of 3.17.

Diodes (NASDAQ:DIOD) last posted its quarterly earnings results on Thursday, November 5th. The semiconductor company reported $1.18 EPS for the quarter, topping analysts’ consensus estimates of $1.05 by $0.13. The business had revenue of $532.59 million during the quarter, compared to analysts’ expectations of $512.94 million. Diodes had a return on equity of 4.33% and a net margin of 5.27%. Diodes’s quarterly revenue was up 35.8% on a year-over-year basis. During the same quarter last year, the company posted $0.37 earnings per share. Sell-side analysts predict that Diodes will post 3.18 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Andar Capital Management HK Ltd acquired a new stake in Diodes during the second quarter worth approximately $80,000,000. BlackRock Inc. bought a new stake in shares of Diodes during the second quarter worth approximately $803,920,000. Dimensional Fund Advisors LP boosted its holdings in shares of Diodes by 2.3% during the first quarter. Dimensional Fund Advisors LP now owns 2,436,359 shares of the semiconductor company’s stock worth $166,294,000 after acquiring an additional 53,934 shares during the period. William Blair Investment Management LLC acquired a new position in shares of Diodes in the second quarter valued at approximately $184,153,000. Finally, Artemis Investment Management LLP grew its position in shares of Diodes by 28.3% in the third quarter. Artemis Investment Management LLP now owns 450,633 shares of the semiconductor company’s stock valued at $43,617,000 after purchasing an additional 99,286 shares during the last quarter. Institutional investors and hedge funds own 99.23% of the company’s stock.

Diodes Company Profile

Diodes Incorporated (NASDAQ: DIOD) is a semiconductor manufacturer that designs, manufactures and supplies discrete, analog, and mixed-signal semiconductor products. Its portfolio includes diodes, rectifiers, transistors, MOSFETs, power-management devices, protection products, logic components, LED drivers, and application-specific semiconductor solutions.

The company’s products are used in power conversion and management, signal processing, circuit protection, lighting, automotive systems, communications equipment, and consumer and industrial electronics.