Diodes Incorporated (NASDAQ:DIOD) Receives Average Rating of “Buy” from Brokerages

Diodes Incorporated (NASDAQ:DIOD) has been assigned an average rating of “Buy” from the five ratings firms that are presently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a hold recommendation, three have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $113.00.

Several equities analysts have recently issued reports on the company. Benchmark upped their price target on Diodes from $62.00 to $80.00 and gave the company a “buy” rating in a research note on Wednesday, February 11th. Zacks Research upgraded Diodes from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 12th. Wall Street Zen upgraded Diodes from a “hold” rating to a “buy” rating in a report on Saturday, February 14th. Robert W. Baird set a $120.00 price objective on Diodes in a report on Friday, May 8th. Finally, Truist Financial upped their price objective on Diodes from $98.00 to $139.00 and gave the company a “buy” rating in a report on Friday, May 8th.

Insiders Place Their Bets

In related news, CTO Francis Tang sold 3,643 shares of the company’s stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $108.00, for a total value of $393,444.00. Following the completion of the sale, the chief technology officer owned 95,905 shares in the company, valued at approximately $10,357,740. This represents a 3.66% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Jin Zhao sold 2,760 shares of the company’s stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $102.36, for a total value of $282,513.60. Following the completion of the sale, the insider owned 47,220 shares of the company’s stock, valued at $4,833,439.20. This represents a 5.52% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 29,611 shares of company stock valued at $3,075,135 in the last ninety days. 1.70% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Diodes

Large investors have recently modified their holdings of the business. EverSource Wealth Advisors LLC increased its holdings in shares of Diodes by 77.4% in the second quarter. EverSource Wealth Advisors LLC now owns 470 shares of the semiconductor company’s stock worth $25,000 after acquiring an additional 205 shares in the last quarter. Farther Finance Advisors LLC increased its holdings in shares of Diodes by 51.4% in the fourth quarter. Farther Finance Advisors LLC now owns 589 shares of the semiconductor company’s stock worth $29,000 after acquiring an additional 200 shares in the last quarter. Geneos Wealth Management Inc. bought a new stake in shares of Diodes in the second quarter worth about $30,000. MAI Capital Management increased its holdings in shares of Diodes by 150.0% in the third quarter. MAI Capital Management now owns 685 shares of the semiconductor company’s stock worth $36,000 after acquiring an additional 411 shares in the last quarter. Finally, Quarry LP bought a new stake in shares of Diodes in the third quarter worth about $39,000. 99.23% of the stock is currently owned by institutional investors.

Diodes Trading Down 0.9%

Shares of DIOD opened at $96.30 on Friday. The company has a quick ratio of 1.97, a current ratio of 3.17 and a debt-to-equity ratio of 0.01. Diodes has a 12-month low of $42.28 and a 12-month high of $117.80. The firm has a market capitalization of $4.42 billion, a PE ratio of 52.34 and a beta of 1.93. The stock’s fifty day simple moving average is $86.31 and its 200-day simple moving average is $66.37.

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

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.