Shares of Diodes (DIOD) plummeted 10% in pre-market trading on Friday, following a significant price target cut by Truist Securities. The semiconductor manufacturer's stock faced pressure after analysts adjusted their outlook on the company's future performance.

Truist Securities lowered its price target for Diodes from $54 to $51, while maintaining a Hold rating on the stock. This downward revision in the price target suggests that the investment firm has become more cautious about Diodes' near-term prospects, potentially triggering a sell-off among investors.

Despite the sharp decline, the overall analyst sentiment on Diodes remains mixed. According to FactSet, the average rating for DIOD stock is Hold, with a mean price target of $57.67. This indicates that while some analysts are becoming more conservative in their outlook, others still see potential upside for the stock from its current levels.