Diodes (NASDAQ:DIOD) Hits New 12-Month High – What’s Next?

Diodes Incorporated (NASDAQ:DIOD) shares reached a new 52-week high during trading on Wednesday . The company traded as high as $89.14 and last traded at $87.52, with a volume of 461851 shares. The stock had previously closed at $88.26.

Analyst Ratings Changes

A number of analysts have commented on the company. Wall Street Zen upgraded Diodes from a “hold” rating to a “buy” rating in a research report on Saturday, February 14th. Robert W. Baird upped their price objective on Diodes from $80.00 to $100.00 and gave the company an “outperform” rating in a research report on Tuesday, April 7th. Benchmark upped their price objective on Diodes from $62.00 to $80.00 and gave the company a “buy” rating in a research report on Wednesday, February 11th. Truist Financial upgraded Diodes from a “hold” rating to a “buy” rating and upped their price objective for the company from $67.00 to $98.00 in a research report on Monday. Finally, Zacks Research upgraded Diodes from a “strong sell” rating to a “hold” rating in a research report on Monday. Three equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $92.67.

Diodes Price Performance

The company has a 50-day moving average price of $70.25 and a 200-day moving average price of $58.49. The firm has a market capitalization of $4.32 billion, a PE ratio of 66.16 and a beta of 1.58. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.32 and a quick ratio of 2.08.

Diodes (NASDAQ:DIOD) last released its earnings results on Tuesday, February 10th. The semiconductor company reported $0.34 earnings per share for the quarter, topping the consensus estimate of $0.26 by $0.08. Diodes had a return on equity of 2.95% and a net margin of 4.46%.The firm had revenue of $391.58 million for the quarter, compared to the consensus estimate of $380.03 million. During the same period in the prior year, the business posted $0.27 earnings per share. The firm’s revenue for the quarter was up 15.4% compared to the same quarter last year. Sell-side analysts forecast that Diodes Incorporated will post 1.82 EPS for the current year.

Insider Activity

In related news, Director Keh Shew Lu sold 111,000 shares of the stock in a transaction dated Friday, February 20th. The stock was sold at an average price of $67.76, for a total transaction of $7,521,360.00. Following the transaction, the director directly owned 180,131 shares in the company, valued at approximately $12,205,676.56. This represents a 38.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP Emily Yang sold 950 shares of the stock in a transaction dated Tuesday, February 3rd. The stock was sold at an average price of $60.85, for a total value of $57,807.50. Following the transaction, the senior vice president owned 74,032 shares in the company, valued at $4,504,847.20. This trade represents a 1.27% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 116,205 shares of company stock valued at $7,837,213 in the last three months. Company insiders own 1.70% of the company’s stock.

Hedge Funds Weigh In On Diodes

Several large investors have recently added to or reduced their stakes in DIOD. Salomon & Ludwin LLC purchased a new position in Diodes during the third quarter worth about $25,000. EverSource Wealth Advisors LLC increased its stake in Diodes by 77.4% during the second quarter. EverSource Wealth Advisors LLC now owns 470 shares of the semiconductor company’s stock worth $25,000 after acquiring an additional 205 shares during the last quarter. Farther Finance Advisors LLC lifted its stake in shares of Diodes by 51.4% in the 4th quarter. Farther Finance Advisors LLC now owns 589 shares of the semiconductor company’s stock valued at $29,000 after purchasing an additional 200 shares in the last quarter. Geneos Wealth Management Inc. acquired a new position in shares of Diodes in the 2nd quarter valued at about $30,000. Finally, MAI Capital Management grew its holdings in shares of Diodes by 150.0% during the 3rd quarter. MAI Capital Management now owns 685 shares of the semiconductor company’s stock worth $36,000 after purchasing an additional 411 shares during the period. 99.23% of the stock is currently owned by hedge funds and other institutional investors.

Diodes Company Profile

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.