Diodes (NASDAQ:DIOD) Sets New 1-Year High – Time to Buy?

Diodes Incorporated (NASDAQ:DIOD)’s stock price hit a new 52-week high on Tuesday . The stock traded as high as $61.85 and last traded at $61.11, with a volume of 278165 shares trading hands. The stock had previously closed at $60.84.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on DIOD shares. Wall Street Zen downgraded shares of Diodes from a “buy” rating to a “hold” rating in a research note on Saturday, November 8th. Truist Financial upped their price objective on Diodes from $51.00 to $54.00 and gave the stock a “hold” rating in a research report on Friday, December 19th. Weiss Ratings upgraded Diodes from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, January 21st. Finally, Zacks Research upgraded shares of Diodes from a “strong sell” rating to a “hold” rating in a research note on Monday, January 5th. Two analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $55.33.

Diodes Stock Up 0.4%

The stock has a market cap of $2.83 billion, a PE ratio of 44.28 and a beta of 1.66. The business has a 50 day moving average of $54.13 and a 200-day moving average of $52.60. The company has a current ratio of 3.32, a quick ratio of 2.09 and a debt-to-equity ratio of 0.01.

Insider Transactions at Diodes

In other news, insider Jin Zhao sold 525 shares of the stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $59.19, for a total transaction of $31,074.75. Following the completion of the sale, the insider owned 49,980 shares in the company, valued at approximately $2,958,316.20. This represents a 1.04% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Gary Yu sold 2,900 shares of the firm’s stock in a transaction dated Tuesday, February 3rd. The stock was sold at an average price of $60.85, for a total value of $176,465.00. Following the transaction, the chief executive officer directly owned 111,671 shares in the company, valued at approximately $6,795,180.35. This represents a 2.53% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 11,205 shares of company stock worth $600,373 over the last 90 days. Company insiders own 2.30% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of DIOD. Pacer Advisors Inc. purchased a new position in shares of Diodes in the 3rd quarter valued at about $7,393,000. Bessemer Group Inc. grew its position in Diodes by 178,733.7% during the third quarter. Bessemer Group Inc. now owns 366,609 shares of the semiconductor company’s stock worth $19,508,000 after buying an additional 366,404 shares during the period. Rhumbline Advisers increased its holdings in Diodes by 7.9% in the second quarter. Rhumbline Advisers now owns 146,315 shares of the semiconductor company’s stock valued at $7,739,000 after buying an additional 10,744 shares in the last quarter. Vanguard Personalized Indexing Management LLC lifted its position in shares of Diodes by 51.0% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 8,304 shares of the semiconductor company’s stock valued at $439,000 after acquiring an additional 2,806 shares during the period. Finally, Federated Hermes Inc. boosted its stake in shares of Diodes by 7,735.4% during the 3rd quarter. Federated Hermes Inc. now owns 25,465 shares of the semiconductor company’s stock worth $1,355,000 after acquiring an additional 25,140 shares in the last quarter. 99.23% of the stock is currently owned by hedge funds and other institutional investors.

Diodes Company Profile

Diodes Incorporated (NASDAQ: DIOD) is a global manufacturer and supplier of high‐performance discrete, logic, analog and mixed‐signal semiconductor products. Headquartered in Plano, Texas, the company designs and develops a broad range of discrete components, standard logic functions, power management circuits, interface products and array products. Its portfolio includes rectifiers, MOSFETs, general‐purpose diodes, voltage regulators, comparators, buffers and other building blocks for electronic systems.

Diodes Incorporated serves a variety of end markets such as automotive, computing, communications, consumer electronics, industrial and lighting.