Diodes (NASDAQ:DIOD) Share Price Crosses Above Two Hundred Day Moving Average – Here’s Why

Shares of Diodes Incorporated (NASDAQ:DIOD) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $66.00 and traded as high as $67.12. Diodes shares last traded at $65.74, with a volume of 497,893 shares changing hands.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Truist Financial lowered their target price 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. Benchmark dropped their price objective on Diodes from $83.00 to $75.00 and set a “buy” rating for the company in a report on Monday, November 11th. Finally, StockNews.com raised Diodes from a “sell” rating to a “hold” rating in a research note on Monday, November 11th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $72.80.

Diodes Stock Up 3.4 %

The company has a market cap of $3.05 billion, a price-to-earnings ratio of 49.80 and a beta of 1.32. The company has a current ratio of 3.58, a quick ratio of 2.21 and a debt-to-equity ratio of 0.01. The firm’s fifty day moving average price is $61.82 and its 200-day moving average price is $66.00.

Institutional Investors Weigh In On Diodes

Hedge funds have recently modified their holdings of the business. Victory Capital Management Inc. increased its holdings in Diodes by 130.9% during the 3rd quarter. Victory Capital Management Inc. now owns 1,744,135 shares of the semiconductor company’s stock worth $111,782,000 after purchasing an additional 988,671 shares in the last quarter. FMR LLC grew its stake in shares of Diodes by 19.6% during the 3rd 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. Dimensional Fund Advisors LP raised its holdings in shares of Diodes by 8.0% in the second quarter. Dimensional Fund Advisors LP now owns 1,913,282 shares of the semiconductor company’s stock valued at $137,620,000 after purchasing an additional 141,610 shares during the last quarter. Cinctive Capital Management LP acquired a new position in Diodes during the third quarter worth $7,791,000. Finally, Barclays PLC grew its position in Diodes by 361.1% in the third quarter. Barclays PLC now owns 79,799 shares of the semiconductor company’s stock valued at $5,114,000 after purchasing an additional 62,492 shares in the last quarter. Institutional investors and hedge funds 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.