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

Diodes Incorporated (NASDAQ:DIOD)’s share price gapped up prior to trading on Monday . The stock had previously closed at $61.65, but opened at $65.30. Diodes shares last traded at $66.30, with a volume of 35,297 shares traded.

Wall Street Analyst Weigh In

DIOD has been the subject of a number of analyst reports. Benchmark raised 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. Wall Street Zen raised Diodes from a “hold” rating to a “buy” rating in a research note on Saturday, February 14th. Weiss Ratings upgraded Diodes from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, January 21st. Truist Financial lifted their price target on Diodes from $54.00 to $67.00 and gave the stock a “hold” rating in a research report on Wednesday, February 11th. Finally, Zacks Research cut shares of Diodes from a “hold” rating to a “strong sell” rating in a research note on Wednesday, February 11th. Two research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Diodes has an average rating of “Hold” and an average price target of $65.67.

Diodes Stock Performance

The firm has a market cap of $3.05 billion, a P/E ratio of 46.89 and a beta of 1.61. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.08 and a current ratio of 3.32. The business’s 50-day simple moving average is $62.66 and its 200 day simple moving average is $55.35.

Diodes (NASDAQ:DIOD) last released its quarterly earnings results on Tuesday, February 10th. The semiconductor company reported $0.34 earnings per share for the quarter, beating 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 analysts’ expectations of $380.03 million. During the same period in the prior year, the firm earned $0.27 EPS. The company’s revenue was up 15.4% compared to the same quarter last year. As a group, equities analysts predict that Diodes Incorporated will post 1.82 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Keh Shew Lu sold 111,000 shares of the company’s stock in a transaction dated Friday, February 20th. The shares were sold at an average price of $67.76, for a total transaction of $7,521,360.00. Following the completion of the sale, the director owned 180,131 shares of the company’s stock, valued at $12,205,676.56. This represents a 38.13% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Brett R. Whitmire sold 830 shares of the stock in a transaction that occurred on Tuesday, February 3rd. The stock was sold at an average price of $60.85, for a total transaction of $50,505.50. Following the completion of the transaction, the chief financial officer owned 67,141 shares in the company, valued at $4,085,529.85. This trade represents a 1.22% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 116,205 shares of company stock valued at $7,837,213 in the last 90 days. Insiders own 2.30% of the company’s stock.

Institutional Trading of Diodes

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in DIOD. Pacer Advisors Inc. raised its position in Diodes by 6.0% in the fourth quarter. Pacer Advisors Inc. now owns 147,336 shares of the semiconductor company’s stock worth $7,270,000 after acquiring an additional 8,396 shares during the period. Summit Global Investments bought a new stake in shares of Diodes during the 4th quarter valued at $211,000. Vident Advisory LLC purchased a new stake in shares of Diodes in the 4th quarter worth $977,000. XTX Topco Ltd purchased a new stake in shares of Diodes in the 4th quarter worth $795,000. Finally, Millennium Management LLC raised its holdings in Diodes by 472.7% in the 4th quarter. Millennium Management LLC now owns 31,361 shares of the semiconductor company’s stock worth $1,547,000 after purchasing an additional 25,885 shares during the period. 99.23% of the stock is owned by hedge funds and other institutional investors.

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.