Diodes (NASDAQ:DIOD) Trading 10.5% Higher – Here’s Why

Diodes Incorporated (NASDAQ:DIOD) was up 10.5% during trading on Thursday . The stock traded as high as $119.49 and last traded at $120.2490. Approximately 113,752 shares changed hands during trading, a decline of 79% from the average daily volume of 532,743 shares. The stock had previously closed at $108.80.

Analyst Ratings Changes

A number of brokerages have issued reports on DIOD. Zacks Research lowered shares of Diodes from a “strong-buy” rating to a “hold” rating in a research note on Monday. Truist Financial upped their price target on shares of Diodes from $98.00 to $139.00 and gave the company a “buy” rating in a research note on Friday, May 8th. Finally, Robert W. Baird set a $120.00 price target on shares of Diodes in a research note on Friday, May 8th. Three investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $113.00.

Diodes Price Performance

The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.97 and a current ratio of 3.17. The firm has a market cap of $5.63 billion, a price-to-earnings ratio of 66.67 and a beta of 1.90. The stock’s 50 day simple moving average is $101.27 and its 200-day simple moving average is $74.48.

Diodes (NASDAQ:DIOD) last issued its quarterly earnings results on Thursday, May 7th. The semiconductor company reported $0.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.35 by $0.08. Diodes had a net margin of 5.50% and a return on equity of 3.48%. The business had revenue of $405.47 million for the quarter, compared to analyst estimates of $396.33 million. During the same quarter in the prior year, the business posted $0.19 EPS. Diodes’s revenue for the quarter was up 22.1% compared to the same quarter last year. Equities research analysts anticipate that Diodes Incorporated will post 2.58 EPS for the current fiscal year.

Insider Transactions at Diodes

In other news, SVP Emily Yang sold 3,000 shares of the stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $110.08, for a total value of $330,240.00. Following the sale, the senior vice president owned 61,878 shares in the company, valued at $6,811,530.24. This represents a 4.62% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO Francis Tang sold 15,330 shares of the stock in a transaction on Friday, May 29th. The stock was sold at an average price of $112.04, for a total transaction of $1,717,573.20. Following the completion of the sale, the chief technology officer owned 71,438 shares in the company, valued at $8,003,913.52. The trade was a 17.67% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 70,981 shares of company stock valued at $7,616,906. 1.70% of the stock is owned by corporate insiders.

Institutional Trading of Diodes

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Captrust Financial Advisors increased its stake in shares of Diodes by 3.1% in the fourth quarter. Captrust Financial Advisors now owns 4,882 shares of the semiconductor company’s stock worth $241,000 after acquiring an additional 145 shares during the period. Verdence Capital Advisors LLC boosted its holdings in Diodes by 2.3% during the fourth quarter. Verdence Capital Advisors LLC now owns 8,430 shares of the semiconductor company’s stock worth $416,000 after buying an additional 186 shares in the last quarter. Farther Finance Advisors LLC boosted its holdings in Diodes by 51.4% during the fourth quarter. Farther Finance Advisors LLC now owns 589 shares of the semiconductor company’s stock worth $29,000 after buying an additional 200 shares in the last quarter. Strs Ohio boosted its holdings in Diodes by 2.2% during the fourth quarter. Strs Ohio now owns 9,100 shares of the semiconductor company’s stock worth $449,000 after buying an additional 200 shares in the last quarter. Finally, EverSource Wealth Advisors LLC boosted its holdings in Diodes by 77.4% during the second quarter. EverSource Wealth Advisors LLC now owns 470 shares of the semiconductor company’s stock worth $25,000 after buying an additional 205 shares in the last quarter. Institutional investors and hedge funds own 99.23% of the company’s stock.

About Diodes

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.