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 company 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%. Diodes’s quarterly revenue was up 13.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.20 earnings per share. Diodes updated its Q3 2022 guidance to EPS.
Diodes Stock Performance
Shares of NASDAQ:DIOD traded down $1.83 on Friday, reaching $81.68. 282,010 shares of the company’s stock were exchanged, compared to its average volume of 305,795. The company has a fifty day moving average of $71.00 and a 200-day moving average of $78.62. Diodes has a twelve month low of $58.52 and a twelve month high of $113.98. The company has a market capitalization of $3.70 billion, a price-to-earnings ratio of 14.22 and a beta of 1.29. The company has a current ratio of 2.49, a quick ratio of 1.69 and a debt-to-equity ratio of 0.14.
Wall Street Analyst Weigh In
DIOD has been the subject of a number of analyst reports. Wells Fargo & Company lowered their target price on shares of Diodes from $85.00 to $65.00 and set an “equal weight” rating for the company in a report on Monday, July 11th. Truist Financial cut their price target on shares of Diodes from $125.00 to $97.00 in a research report on Friday, April 8th.
Insiders Place Their Bets
Institutional Trading of Diodes
A number of institutional investors and hedge funds have recently made changes to their positions in the company. BlackRock Inc. lifted its holdings in shares of Diodes by 2.1% during the 1st quarter. BlackRock Inc. now owns 7,095,551 shares of the semiconductor company’s stock worth $617,241,000 after acquiring an additional 147,907 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Diodes by 1.8% during the 1st quarter. Vanguard Group Inc. now owns 5,051,314 shares of the semiconductor company’s stock worth $439,414,000 after acquiring an additional 88,870 shares during the period. State Street Corp lifted its holdings in shares of Diodes by 3.0% during the 1st quarter. State Street Corp now owns 1,845,937 shares of the semiconductor company’s stock worth $160,578,000 after acquiring an additional 52,969 shares during the period. Invesco Ltd. lifted its holdings in shares of Diodes by 3.0% during the 1st quarter. Invesco Ltd. now owns 892,326 shares of the semiconductor company’s stock worth $77,623,000 after acquiring an additional 26,131 shares during the period. Finally, Fuller & Thaler Asset Management Inc. lifted its holdings in shares of Diodes by 102.3% during the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 578,250 shares of the semiconductor company’s stock worth $50,302,000 after acquiring an additional 292,450 shares during the period. Institutional investors own 93.74% of the company’s stock.
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.
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