Diodes Incorporated (NASDAQ:DIOD) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of Diodes Incorporated (NASDAQ:DIOD) have been assigned an average recommendation of “Moderate Buy” from the five research firms that are presently covering the stock, Marketbeat.com reports. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $113.00.

A number of research analysts have issued reports on the stock. Zacks Research downgraded shares of Diodes from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 15th. Robert W. Baird set a $120.00 price target on shares of Diodes in a research note on Friday, May 8th. Truist Financial increased their price objective on shares of Diodes from $98.00 to $139.00 and gave the company a “buy” rating in a report on Friday, May 8th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Diodes in a research note on Wednesday, July 15th.

Diodes Stock Up 7.8%

Shares of DIOD opened at $82.00 on Friday. The business’s fifty day moving average price is $101.30 and its two-hundred day moving average price is $84.71. The firm has a market capitalization of $3.77 billion, a price-to-earnings ratio of 44.57 and a beta of 1.88. Diodes has a 52 week low of $42.28 and a 52 week high of $125.99. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.97 and a current ratio of 3.17.

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 the consensus estimate of $0.35 by $0.08. The business had revenue of $405.47 million for the quarter, compared to analyst estimates of $396.33 million. Diodes had a return on equity of 3.48% and a net margin of 5.50%.The firm’s revenue for the quarter was up 22.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.19 earnings per share. On average, analysts predict that Diodes will post 2.58 earnings per share for the current year.

Insider Buying and Selling

In other news, CEO Gary Yu sold 3,632 shares of the firm’s stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $110.08, for a total value of $399,810.56. Following the transaction, the chief executive officer directly owned 108,147 shares in the company, valued at $11,904,821.76. This trade represents a 3.25% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Jin Zhao sold 3,689 shares of the company’s stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $106.86, for a total value of $394,206.54. Following the completion of the sale, the insider owned 43,531 shares of the company’s stock, valued at $4,651,722.66. This represents a 7.81% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 70,981 shares of company stock worth $7,616,906 over the last 90 days. 1.70% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Diodes

Institutional investors have recently modified their holdings of the stock. Evergreen Capital Management LLC acquired a new stake in shares of Diodes in the 4th quarter valued at approximately $476,000. Bessemer Group Inc. grew its holdings in Diodes by 14.5% during the fourth quarter. Bessemer Group Inc. now owns 419,648 shares of the semiconductor company’s stock valued at $20,707,000 after purchasing an additional 53,039 shares during the period. Tributary Capital Management LLC grew its holdings in Diodes by 7.1% during the fourth quarter. Tributary Capital Management LLC now owns 346,023 shares of the semiconductor company’s stock valued at $17,073,000 after purchasing an additional 22,903 shares during the period. Vanguard Group Inc. increased its stake in Diodes by 2.8% in the fourth quarter. Vanguard Group Inc. now owns 6,154,859 shares of the semiconductor company’s stock valued at $303,681,000 after purchasing an additional 166,603 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC increased its stake in Diodes by 8.0% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 235,351 shares of the semiconductor company’s stock valued at $12,104,000 after purchasing an additional 17,363 shares in the last quarter. 99.23% of the stock is currently owned by institutional investors and hedge funds.

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.