Diodes (NASDAQ:DIOD) Shares Up 4%

Diodes Incorporated (NASDAQ:DIOD)’s share price rose 4% on Wednesday . The stock traded as high as $71.16 and last traded at $71.09. Approximately 114,958 shares were traded during trading, a decline of 66% from the average daily volume of 341,734 shares. The stock had previously closed at $68.38.

Analysts Set New Price Targets

DIOD has been the topic of several research analyst reports. TD Cowen boosted their price target on Diodes from $72.00 to $85.00 and gave the company an “outperform” rating in a research note on Wednesday, February 7th. Truist Financial dropped their price target on Diodes from $78.00 to $67.00 and set a “hold” rating on the stock in a research note on Wednesday, February 7th. Finally, Wells Fargo & Company lowered their target price on Diodes from $80.00 to $70.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 7th. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, Diodes presently has a consensus rating of “Hold” and an average price target of $72.40.

Diodes Stock Performance

The stock has a market capitalization of $3.11 billion, a price-to-earnings ratio of 13.80 and a beta of 1.46. The firm has a fifty day moving average of $68.56 and a 200 day moving average of $71.12. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.02 and a quick ratio of 2.03.

Diodes (NASDAQ:DIOD) last posted its earnings results on Tuesday, February 6th. The semiconductor company reported $0.51 EPS for the quarter, topping the consensus estimate of $0.47 by $0.04. Diodes had a return on equity of 12.79% and a net margin of 13.67%. The firm had revenue of $322.70 million for the quarter, compared to analyst estimates of $324.76 million. During the same period last year, the company earned $1.73 earnings per share. Diodes’s revenue for the quarter was down 35.0% compared to the same quarter last year. On average, sell-side analysts anticipate that Diodes Incorporated will post 2.55 earnings per share for the current fiscal year.

Insider Buying and Selling at Diodes

In other Diodes news, CEO Keh Shew Lu sold 1,500 shares of the firm’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $68.06, for a total value of $102,090.00. Following the sale, the chief executive officer now directly owns 281,992 shares of the company’s stock, valued at $19,192,375.52. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, CEO Keh Shew Lu sold 1,500 shares of the firm’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $68.06, for a total value of $102,090.00. Following the transaction, the chief executive officer now owns 281,992 shares in the company, valued at $19,192,375.52. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Brett R. Whitmire sold 3,400 shares of the firm’s stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $67.30, for a total value of $228,820.00. Following the completion of the transaction, the chief financial officer now owns 48,265 shares in the company, valued at approximately $3,248,234.50. The disclosure for this sale can be found here. Over the last three months, insiders have sold 25,900 shares of company stock valued at $1,774,570. Company insiders own 2.20% of the company’s stock.

Hedge Funds Weigh In On Diodes

Hedge funds and other institutional investors have recently made changes to their positions in the company. GAMMA Investing LLC purchased a new position in shares of Diodes in the fourth quarter valued at approximately $30,000. Riverview Trust Co purchased a new position in shares of Diodes in the first quarter valued at approximately $51,000. NBC Securities Inc. purchased a new position in shares of Diodes in the third quarter valued at approximately $59,000. Principal Securities Inc. purchased a new position in Diodes during the fourth quarter worth approximately $74,000. Finally, Northwestern Mutual Wealth Management Co. lifted its position in Diodes by 11.7% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,178 shares of the semiconductor company’s stock worth $90,000 after buying an additional 123 shares in the last quarter. Hedge funds and other institutional investors own 99.23% of the company’s stock.

Diodes Company Profile

Diodes Incorporated, together with its subsidiaries, manufactures and supplies application-specific standard products in the broad discrete, logic, analog, and mixed-signal semiconductor markets worldwide. The company offers discrete semiconductor products, such as MOSFETs, SiC MOSFETs; data line protection, power line protection, thyristers, USB Type-C protection, and transient voltage suppressors; Schottky, small signal switching, Zener, and SiC diodes; bridges, super barrier, Schottky, Schottky bridge, and fast/ultra-fast rectifiers; and bipolar, avalanche, gate driver, and pre-bias transistors.