Diodes Slides; New Auto Chip Launch Puts Focus Back on Growth Track
Diodes Incorporated shares slipped on Thursday, pulling back after a recent climb. Investors tracked the company's new automotive-chip launch but kept focus on the ongoing cyclical rebound in analog and power semis. The stock was down 77 cents, or 0.7%, to $108.36 late Thursday morning. The Invesco QQQ Trust, a key Nasdaq tech gauge, was up 0.3%. Diodes moved a day after it said it launched the APK43070Q, calling it an automotive-grade synchronous buck controller with a USB PD3.1 source controller for the higher-power USB-C charging standard. According to the company, the chip is aimed at single- and multi-port Type-C charging modules for cars, and handles charging ports up to 140W.