Diodes (NASDAQ:DIOD) Stock Price Up 10.5% – What’s Next?

Diodes Incorporated (NASDAQ:DIOD) rose 10.5% during trading on Thursday . The company traded as high as $119.49 and last traded at $120.2490. Approximately 113,752 shares changed hands during mid-day trading, a decline of 79% from the average session volume of 532,743 shares. The stock had previously closed at $108.80.

Analyst Ratings Changes

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

Diodes Price Performance

The company has a market cap of $5.49 billion, a price-to-earnings ratio of 64.92 and a beta of 1.90. The stock’s 50-day moving average is $103.01 and its 200-day moving average is $75.30. The company has a current ratio of 3.17, a quick ratio of 1.97 and a debt-to-equity ratio of 0.01.

Diodes (NASDAQ:DIOD) last posted its quarterly earnings results on Thursday, May 7th. The semiconductor company reported $0.43 earnings per share for the quarter, beating the consensus estimate of $0.35 by $0.08. Diodes had a net margin of 5.50% and a return on equity of 3.48%. The firm had revenue of $405.47 million during the quarter, compared to the consensus estimate of $396.33 million. During the same period in the previous year, the firm posted $0.19 earnings per share. The business’s revenue was up 22.1% compared to the same quarter last year. On average, analysts anticipate that Diodes Incorporated will post 2.58 earnings per share for the current fiscal year.

Insider Buying and Selling at Diodes

In other news, CFO Brett R. Whitmire sold 16,556 shares of the business’s stock in a transaction that occurred on Wednesday, May 13th. The stock was sold at an average price of $103.34, for a total transaction of $1,710,897.04. Following the completion of the sale, the chief financial officer owned 44,632 shares in the company, valued at $4,612,270.88. The trade was a 27.06% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Jin Zhao sold 3,689 shares of the company’s stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $106.86, for a total value of $394,206.54. Following the transaction, the insider directly owned 43,531 shares in the company, valued at $4,651,722.66. The trade was a 7.81% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 70,981 shares of company stock worth $7,616,906 in the last quarter. Company insiders own 1.70% of the company’s stock.

Institutional Trading of Diodes

Hedge funds have recently bought and sold shares of the business. Integrated Investment Consultants LLC acquired a new position in Diodes during the first quarter worth $216,000. Prospect Capital Advisors LLC acquired a new stake in shares of Diodes in the 1st quarter worth about $2,853,000. Bank of America Corp DE raised its holdings in shares of Diodes by 11.3% in the 1st quarter. Bank of America Corp DE now owns 390,807 shares of the semiconductor company’s stock worth $26,676,000 after acquiring an additional 39,668 shares during the last quarter. California State Teachers Retirement System lifted its position in Diodes by 23.8% in the 1st quarter. California State Teachers Retirement System now owns 54,987 shares of the semiconductor company’s stock valued at $3,753,000 after acquiring an additional 10,579 shares in the last quarter. Finally, Empowered Funds LLC bought a new position in Diodes in the 1st quarter valued at about $344,000. Institutional investors and hedge funds own 99.23% of the company’s stock.

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.