Diodes (NASDAQ:DIOD) Issues Earnings Results

Diodes (NASDAQ:DIOD – Get Rating) posted its earnings results on Thursday. The semiconductor company reported $1.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.75 by $0.15, Briefing.com reports. The firm had revenue of $500.97 million during the quarter, compared to analysts’ expectations of $501.47 million. Diodes had a net margin of 13.98% and a return on equity of 21.94%. The company’s revenue was up 13.7% compared to the same quarter last year. During the same period in the previous year, the company earned $1.20 earnings per share. Diodes updated its Q3 2022 guidance to EPS.

Diodes Stock Performance

NASDAQ:DIOD traded down $1.83 during trading hours on Friday, hitting $81.68. 282,010 shares of the company traded hands, compared to its average volume of 305,795. The stock has a market capitalization of $3.70 billion, a price-to-earnings ratio of 14.22 and a beta of 1.29. Diodes has a twelve month low of $58.52 and a twelve month high of $113.98. The firm has a 50-day moving average of $71.00 and a 200 day moving average of $78.62. The company has a current ratio of 2.49, a quick ratio of 1.69 and a debt-to-equity ratio of 0.14.

Analysts Set New Price Targets

A number of analysts have recently weighed in on DIOD shares. Truist Financial reduced their price objective on shares of Diodes from $125.00 to $97.00 in a research note on Friday, April 8th. Wells Fargo & Company reduced their price objective on shares of Diodes from $85.00 to $65.00 and set an “equal weight” rating for the company in a research note on Monday, July 11th.

Insider Activity at Diodes

In other Diodes news, CFO Brett R. Whitmire sold 600 shares of the business’s stock in a transaction on Tuesday, July 5th. The shares were sold at an average price of $60.00, for a total value of $36,000.00. Following the sale, the chief financial officer now owns 27,125 shares of the company’s stock, valued at approximately $1,627,500. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 2.60% of the company’s stock.

Institutional Investors Weigh In On Diodes

Institutional investors and hedge funds have recently bought and sold shares of the business. JPMorgan Chase & Co. grew its holdings in shares of Diodes by 23.0% in the 1st quarter. JPMorgan Chase & Co. now owns 117,862 shares of the semiconductor company’s stock worth $10,252,000 after purchasing an additional 22,056 shares during the last quarter. Raymond James & Associates grew its holdings in Diodes by 111.4% during the 1st quarter. Raymond James & Associates now owns 8,385 shares of the semiconductor company’s stock worth $729,000 after acquiring an additional 4,419 shares during the last quarter. Citigroup Inc. grew its holdings in Diodes by 11.6% during the 1st quarter. Citigroup Inc. now owns 48,254 shares of the semiconductor company’s stock worth $4,198,000 after acquiring an additional 5,012 shares during the last quarter. MetLife Investment Management LLC grew its holdings in Diodes by 55.6% during the 1st quarter. MetLife Investment Management LLC now owns 22,875 shares of the semiconductor company’s stock worth $1,990,000 after acquiring an additional 8,174 shares during the last quarter. Finally, Rhumbline Advisers grew its holdings in Diodes by 4.9% during the 1st quarter. Rhumbline Advisers now owns 111,144 shares of the semiconductor company’s stock worth $9,668,000 after acquiring an additional 5,201 shares during the last quarter. Institutional investors own 93.74% of the company’s stock.

About Diodes

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Diodes Incorporated designs, manufactures, and supplies application-specific standard products in the discrete, logic, analog, and mixed-signal semiconductor markets worldwide. It focuses on low pin count semiconductor devices with one or more active or passive components. The company offers discrete semiconductor products, such as MOSFET, TVS, and performance Schottky rectifiers; GPP bridges and retifiers, and performance Schottky diodes; Zener and performance Zener diodes, including tight tolerance and low operating current type; standard, fast, super-fast, and ultra-fast recovery rectifiers; bridge rectifiers; switching diodes; small signal bipolar and prebiased transistors; thyristor surge protection devices; and transient voltage suppressors.