Diodes (NASDAQ:DIOD) Shares Gap Up – Here’s Why

Diodes Incorporated (NASDAQ:DIOD) gapped up prior to trading on Monday . The stock had previously closed at $119.46, but opened at $125.82. Diodes shares last traded at $123.6010, with a volume of 198,926 shares.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. Truist Financial upped their price objective on shares of Diodes from $98.00 to $139.00 and gave the company a “buy” rating in a report on Friday, May 8th. Zacks Research downgraded Diodes from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 15th. Finally, Robert W. Baird set a $120.00 target price on Diodes in a research note on Friday, May 8th. Three analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Diodes presently has an average rating of “Moderate Buy” and a consensus price target of $113.00.

Diodes Stock Up 3.4%

The company has a market capitalization of $5.68 billion, a price-to-earnings ratio of 67.40 and a beta of 1.90. The business’s 50-day moving average is $103.01 and its 200-day moving average is $75.51. The company has a quick ratio of 1.97, a current ratio of 3.17 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. The company had revenue of $405.47 million for the quarter, compared to the consensus estimate of $396.33 million. Diodes had a return on equity of 3.48% and a net margin of 5.50%.The firm’s revenue for the quarter was up 22.1% compared to the same quarter last year. During the same period last year, the firm earned $0.19 EPS. As a group, equities analysts predict that Diodes Incorporated will post 2.58 earnings per share for the current year.

Insider Transactions at Diodes

In other Diodes news, insider Richard Dallas White sold 3,000 shares of the company’s stock in a transaction that occurred on Friday, May 29th. The stock was sold at an average price of $106.17, for a total value of $318,510.00. Following the sale, the insider owned 8,071 shares in the company, valued at approximately $856,898.07. This represents a 27.10% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CTO Francis Tang sold 15,330 shares of the firm’s stock in a transaction that occurred on Friday, May 29th. The stock was sold at an average price of $112.04, for a total transaction of $1,717,573.20. Following the sale, the chief technology officer directly owned 71,438 shares in the company, valued at $8,003,913.52. The trade was a 17.67% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 70,981 shares of company stock valued at $7,616,906. 1.70% of the stock is owned by insiders.

Hedge Funds Weigh In On Diodes

Several large investors have recently made changes to their positions in DIOD. AQR Capital Management LLC grew its position in Diodes by 12.4% during the first quarter. AQR Capital Management LLC now owns 6,028 shares of the semiconductor company’s stock valued at $260,000 after buying an additional 663 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Diodes by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 27,148 shares of the semiconductor company’s stock worth $1,172,000 after acquiring an additional 1,186 shares during the period. Goldman Sachs Group Inc. raised its position in shares of Diodes by 13.8% in the first quarter. Goldman Sachs Group Inc. now owns 391,005 shares of the semiconductor company’s stock worth $16,880,000 after acquiring an additional 47,500 shares during the period. Woodline Partners LP purchased a new stake in shares of Diodes during the 1st quarter worth about $559,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of Diodes by 6.8% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 104,719 shares of the semiconductor company’s stock valued at $4,521,000 after acquiring an additional 6,708 shares during the period. 99.23% of the stock is currently owned by institutional investors and hedge funds.

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.