Key Points
- Diodes CFO Brett Whitmire sold 16,556 shares on May 13 at an average price of $103.34, generating about $1.71 million and reducing his stake by 27.06%.
- Diodes reported stronger-than-expected quarterly results, with EPS of $0.43 versus the $0.35 estimate and revenue of $405.47 million, up 22.1% from a year earlier.
- Analysts remain generally bullish on DIOD, with a consensus rating of “Buy” and a consensus price target of $113.00, while Truist recently lifted its target to $139.00.
Diodes Incorporated (NASDAQ:DIOD - Get Free Report) insider Jin Zhao sold 2,760 shares of Diodes stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $102.36, for a total transaction of $282,513.60. Following the completion of the transaction, the insider directly owned 47,220 shares of the company's stock, valued at approximately $4,833,439.20. This represents a 5.52% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Diodes Stock Down 1.4%
DIOD stock opened at $101.96 on Thursday. The firm has a market cap of $4.68 billion, a price-to-earnings ratio of 55.41 and a beta of 1.93. Diodes Incorporated has a 1-year low of $42.28 and a 1-year high of $117.80. The firm has a fifty day moving average price of $82.29 and a two-hundred day moving average price of $64.57. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.17 and a quick ratio of 1.97.
Diodes (NASDAQ:DIOD - Get Free Report) last posted its quarterly earnings results on Thursday, May 7th. The semiconductor company reported $0.43 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.35 by $0.08. Diodes had a net margin of 5.50% and a return on equity of 3.48%. The company had revenue of $405.47 million for the quarter, compared to the consensus estimate of $396.33 million. During the same period last year, the firm posted $0.19 EPS. The company's revenue for the quarter was up 22.1% on a year-over-year basis. Research analysts predict that Diodes Incorporated will post 2.58 EPS for the current year.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently bought and sold shares of the company. Arrowstreet Capital Limited Partnership acquired a new stake in shares of Diodes in the third quarter valued at approximately $37,519,000. Victory Capital Management Inc. boosted its position in shares of Diodes by 901.2% during the fourth quarter. Victory Capital Management Inc. now owns 509,630 shares of the semiconductor company's stock worth $25,145,000 after buying an additional 458,727 shares during the period. Bessemer Group Inc. boosted its position in shares of Diodes by 178,733.7% during the third quarter. Bessemer Group Inc. now owns 366,609 shares of the semiconductor company's stock worth $19,508,000 after buying an additional 366,404 shares during the period. Invesco Ltd. grew its holdings in 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, Ameriprise Financial Inc. increased its position in Diodes by 132.3% in the 2nd quarter. Ameriprise Financial Inc. now owns 402,105 shares of the semiconductor company's stock valued at $21,267,000 after acquiring an additional 228,976 shares during the period. Institutional investors own 99.23% of the company's stock.
Wall Street Analysts Forecast Growth
DIOD has been the subject of a number of research reports. Wall Street Zen upgraded Diodes from a "hold" rating to a "buy" rating in a research note on Saturday, February 14th. Truist Financial increased their price target on Diodes from $98.00 to $139.00 and gave the stock a "buy" rating in a research report on Friday, May 8th. Weiss Ratings raised Diodes from a "sell (d+)" rating to a "hold (c-)" rating in a report on Wednesday, January 21st. Benchmark boosted 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. Finally, Robert W. Baird set a $120.00 price objective on Diodes in a research note on Friday, May 8th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average target price of $113.00.
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About Diodes
(
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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.
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