Diodes (NASDAQ:DIOD) Stock Breaks Above 200 Day Moving Average – Time to Sell?

Diodes Incorporated (NASDAQ:DIOD) shares passed above its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of $88.39 and traded as high as $94.64. Diodes shares last traded at $91.27, with a volume of 697,032 shares traded.

Recent Diodes Headlines

Investors following DIOD have been watching these headlines:

• Positive Sentiment: Analyst sentiment is supportive: Zacks Research upgraded DIOD to “strong buy,” and analyst price targets imply potential upside. These targets are estimates, not guarantees. Article: Analyst Price Targets
• Negative Sentiment: A recent valuation-focused article argues DIOD may already be fully priced after its record quarter, which could limit near-term upside. Article: Diodes Stock Looks Fully Priced
• Negative Sentiment: Reported open-market insider activity showed sales and no purchases over the past six months. This may concern investors, although insider selling alone does not establish a negative business outlook. Article: Insider Trading Activity

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on DIOD shares. Zacks Research raised Diodes from a “hold” rating to a “strong-buy” rating in a research report on Tuesday. Truist Financial reduced their target price on shares of Diodes from $139.00 to $133.00 and set a “buy” rating for the company in a report on Thursday, August 6th. Weiss Ratings restated a “hold (c)” rating on shares of Diodes in a research note on Tuesday, October 13th. Wells Fargo & Company set a $135.00 price target on shares of Diodes in a report on Tuesday, October 6th. Finally, Needham & Company LLC dropped their price target on shares of Diodes from $110.00 to $100.00 and set a “buy” rating for the company in a research report on Friday, November 6th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $129.17.

Diodes Price Performance

The company has a debt-to-equity ratio of 0.19, a current ratio of 3.07 and a quick ratio of 2.02. The firm has a 50-day moving average of $90.03 and a 200-day moving average of $88.56. The stock has a market cap of $3.99 billion, a PE ratio of 35.04 and a beta of 1.96.

Diodes (NASDAQ:DIOD) last issued its earnings results on Thursday, November 5th. The semiconductor company reported $1.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.05 by $0.13. Diodes had a return on equity of 6.17% and a net margin of 6.51%. The company had revenue of $532.59 million for the quarter, compared to the consensus estimate of $512.94 million. During the same quarter last year, the company earned $0.37 EPS. The firm’s quarterly revenue was up 35.8% on a year-over-year basis. Research analysts predict that Diodes Incorporated will post 3.66 EPS for the current year.

Hedge Funds Weigh In On Diodes

A number of hedge funds and other institutional investors have recently modified their holdings of DIOD. Andar Capital Management HK Ltd bought a new position in shares of Diodes during the 2nd quarter valued at approximately $80,000,000. BlackRock Inc. bought a new stake in Diodes in the second quarter worth $803,920,000. William Blair Investment Management LLC purchased a new position in Diodes during the second quarter worth $184,153,000. Bank of New York Mellon Corp purchased a new position in Diodes during the second quarter worth $41,421,000. Finally, Bank of America Corp DE purchased a new position in Diodes during the second quarter worth $21,374,000. Institutional investors own 99.23% of the company’s stock.

Diodes Company Profile

Diodes Incorporated designs, manufactures and supplies semiconductor products used in electronic systems. Its portfolio includes discrete semiconductors, analog and mixed-signal devices, and power-management products, such as rectifiers, transistors, MOSFETs, protection devices, converters and LED drivers. The company’s products support applications in automotive, industrial, computing, consumer electronics and communications markets. Diodes serves customers globally through operations and sales across the Americas, Europe and Asia.