Diodes (NASDAQ:DIOD) Rating Increased to Buy at Wall Street Zen

Diodes (NASDAQ:DIOD) was upgraded by stock analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued on Saturday.

A number of other equities analysts have also weighed in on the stock. Benchmark upped their price target on shares of Diodes from $62.00 to $80.00 and gave the stock a “buy” rating in a research report on Wednesday. Zacks Research cut shares of Diodes from a “hold” rating to a “strong sell” rating in a research note on Wednesday. Weiss Ratings raised shares of Diodes from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, January 21st. Finally, Truist Financial increased their price target on Diodes from $54.00 to $67.00 and gave the stock a “hold” rating in a research note on Wednesday. Two investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $65.67.

Diodes Stock Performance

Shares of DIOD opened at $71.07 on Friday. The business has a 50-day simple moving average of $55.74 and a two-hundred day simple moving average of $53.12. The company has a quick ratio of 2.09, a current ratio of 3.32 and a debt-to-equity ratio of 0.01. Diodes has a 52 week low of $32.93 and a 52 week high of $81.71. The stock has a market cap of $3.26 billion, a price-to-earnings ratio of 50.05 and a beta of 1.66.

Diodes (NASDAQ:DIOD) last posted its quarterly earnings data on Tuesday, February 10th. The semiconductor company reported $0.34 earnings per share for the quarter, beating analysts’ consensus estimates of $0.26 by $0.08. The firm had revenue of $391.58 million for the quarter, compared to analysts’ expectations of $380.03 million. Diodes had a return on equity of 2.95% and a net margin of 4.46%.The business’s quarterly revenue was up 15.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.27 EPS. On average, analysts expect that Diodes will post 1.82 EPS for the current year.

Insider Activity at Diodes

In other Diodes news, CFO Brett R. Whitmire sold 830 shares of Diodes stock in a transaction on Tuesday, February 3rd. The shares were sold at an average price of $60.85, for a total value of $50,505.50. Following the sale, the chief financial officer directly owned 67,141 shares in the company, valued at approximately $4,085,529.85. The trade was a 1.22% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Gary Yu sold 2,900 shares of the business’s stock in a transaction on Tuesday, February 3rd. The stock was sold at an average price of $60.85, for a total transaction of $176,465.00. Following the completion of the sale, the chief executive officer owned 111,671 shares in the company, valued at approximately $6,795,180.35. The trade was a 2.53% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 5,205 shares of company stock valued at $315,853. Insiders own 1.90% of the company’s stock.

Hedge Funds Weigh In On Diodes

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Arrowstreet Capital Limited Partnership bought a new position in shares of Diodes during the 3rd quarter valued at approximately $37,519,000. Victory Capital Management Inc. raised its stake in Diodes by 901.2% during the fourth quarter. Victory Capital Management Inc. now owns 509,630 shares of the semiconductor company’s stock valued at $25,145,000 after purchasing an additional 458,727 shares in the last quarter. Bessemer Group Inc. lifted its position in Diodes by 178,733.7% during the third quarter. Bessemer Group Inc. now owns 366,609 shares of the semiconductor company’s stock valued at $19,508,000 after purchasing an additional 366,404 shares during the last quarter. Invesco Ltd. grew its stake in shares of Diodes by 183.0% in the 3rd quarter. Invesco Ltd. now owns 519,013 shares of the semiconductor company’s stock worth $27,617,000 after buying an additional 335,644 shares in the last quarter. Finally, Tributary Capital Management LLC grew its stake in shares of Diodes by 92.5% in the 3rd quarter. Tributary Capital Management LLC now owns 646,240 shares of the semiconductor company’s stock worth $34,386,000 after buying an additional 310,500 shares in the last quarter. 99.23% of the stock is owned by 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.