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

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

Analysts Set New Price Targets

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

Diodes Price Performance

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

Diodes (NASDAQ:DIOD) last announced its quarterly earnings results on Thursday, May 7th. The semiconductor company reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.35 by $0.08. Diodes had a net margin of 5.50% and a return on equity of 3.48%. The firm had revenue of $405.47 million during the quarter, compared to analysts’ expectations of $396.33 million. During the same quarter in the prior year, the company earned $0.19 EPS. The company’s revenue was up 22.1% compared to the same quarter last year. On average, equities analysts expect that Diodes Incorporated will post 2.58 earnings per share for the current fiscal year.

Insider Transactions at Diodes

In other news, SVP Emily Yang sold 3,000 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the senior vice president owned 61,878 shares of the company’s stock, valued at approximately $6,811,530.24. This represents a 4.62% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Andy Tsong sold 1,582 shares of the company’s stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $106.95, for a total transaction of $169,194.90. Following the completion of the sale, the senior vice president directly owned 48,170 shares of the company’s stock, valued at $5,151,781.50. The trade was a 3.18% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 70,981 shares of company stock worth $7,616,906. Insiders own 1.70% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. JPMorgan Chase & Co. raised its stake in shares of Diodes by 49.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 464,429 shares of the semiconductor company’s stock worth $24,712,000 after acquiring an additional 153,905 shares in the last quarter. Evergreen Capital Management LLC bought a new position in shares of Diodes during the 4th quarter worth approximately $476,000. Bessemer Group Inc. raised its stake in shares of Diodes by 14.5% during the 4th quarter. Bessemer Group Inc. now owns 419,648 shares of the semiconductor company’s stock worth $20,707,000 after acquiring an additional 53,039 shares in the last quarter. Tributary Capital Management LLC raised its stake in shares of Diodes by 7.1% during the 4th quarter. Tributary Capital Management LLC now owns 346,023 shares of the semiconductor company’s stock worth $17,073,000 after acquiring an additional 22,903 shares in the last quarter. Finally, Vanguard Group Inc. raised its stake in shares of Diodes by 2.8% during the 4th quarter. Vanguard Group Inc. now owns 6,154,859 shares of the semiconductor company’s stock worth $303,681,000 after acquiring an additional 166,603 shares in the last quarter. Institutional investors 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.