Diodes (NASDAQ:DIOD) Shares Up 4%

Diodes Incorporated (NASDAQ:DIOD)’s share price shot up 4% during trading on Wednesday . The company traded as high as $71.16 and last traded at $71.09. 114,958 shares changed hands during mid-day trading, a decline of 66% from the average session volume of 341,734 shares. The stock had previously closed at $68.38.

Wall Street Analyst Weigh In

A number of research firms have commented on DIOD. Wells Fargo & Company reduced their price objective on Diodes from $80.00 to $70.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 7th. TD Cowen upped their price target on Diodes from $72.00 to $85.00 and gave the company an “outperform” rating in a research note on Wednesday, February 7th. Finally, Truist Financial cut their price target on Diodes from $78.00 to $67.00 and set a “hold” rating on the stock in a research note on Wednesday, February 7th. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $72.40.

Diodes Stock Up 0.9 %

The firm has a fifty day simple moving average of $68.56 and a 200-day simple moving average of $71.12. The company has a market capitalization of $3.11 billion, a P/E ratio of 13.80 and a beta of 1.46. The company has a quick ratio of 2.03, a current ratio of 3.02 and a debt-to-equity ratio of 0.01.

Diodes (NASDAQ:DIOD) last announced its quarterly earnings data on Tuesday, February 6th. The semiconductor company reported $0.51 earnings per share for the quarter, beating the consensus estimate of $0.47 by $0.04. The firm had revenue of $322.70 million during the quarter, compared to analysts’ expectations of $324.76 million. Diodes had a return on equity of 12.79% and a net margin of 13.67%. The company’s quarterly revenue was down 35.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.73 EPS. On average, equities research analysts expect that Diodes Incorporated will post 2.55 EPS for the current fiscal year.

Insiders Place Their Bets

In other Diodes news, CFO Brett R. Whitmire sold 3,400 shares of the company’s stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $67.30, for a total value of $228,820.00. Following the completion of the transaction, the chief financial officer now owns 48,265 shares of the company’s stock, valued at approximately $3,248,234.50. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Diodes news, CFO Brett R. Whitmire sold 3,400 shares of the company’s stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $67.30, for a total value of $228,820.00. Following the completion of the transaction, the chief financial officer now owns 48,265 shares of the company’s stock, valued at approximately $3,248,234.50. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Keh Shew Lu sold 3,000 shares of the company’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $68.14, for a total value of $204,420.00. Following the completion of the sale, the chief executive officer now owns 256,492 shares in the company, valued at approximately $17,477,364.88. The disclosure for this sale can be found here. Insiders sold a total of 25,900 shares of company stock valued at $1,774,570 in the last 90 days. Corporate insiders own 2.20% of the company’s stock.

Institutional Investors Weigh In On Diodes

Several institutional investors and hedge funds have recently made changes to their positions in the business. BlackRock Inc. boosted its position in shares of Diodes by 2.1% during the 1st quarter. BlackRock Inc. now owns 7,095,551 shares of the semiconductor company’s stock valued at $617,241,000 after purchasing an additional 147,907 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Diodes by 1.3% during the 4th quarter. Vanguard Group Inc. now owns 5,650,727 shares of the semiconductor company’s stock valued at $454,997,000 after purchasing an additional 70,121 shares in the last quarter. Earnest Partners LLC boosted its position in shares of Diodes by 2.3% during the 3rd quarter. Earnest Partners LLC now owns 2,134,515 shares of the semiconductor company’s stock valued at $168,285,000 after purchasing an additional 47,472 shares in the last quarter. Finally, State Street Corp boosted its position in shares of Diodes by 2.1% during the 2nd quarter. State Street Corp now owns 2,025,050 shares of the semiconductor company’s stock valued at $187,297,000 after purchasing an additional 42,310 shares in the last quarter. Institutional investors own 99.23% of the company’s stock.

About Diodes

Diodes Incorporated, together with its subsidiaries, manufactures and supplies application-specific standard products in the broad discrete, logic, analog, and mixed-signal semiconductor markets worldwide. The company offers discrete semiconductor products, such as MOSFETs, SiC MOSFETs; data line protection, power line protection, thyristers, USB Type-C protection, and transient voltage suppressors; Schottky, small signal switching, Zener, and SiC diodes; bridges, super barrier, Schottky, Schottky bridge, and fast/ultra-fast rectifiers; and bipolar, avalanche, gate driver, and pre-bias transistors.