Diodes (NASDAQ:DIOD) Hits New 1-Year High – Time to Buy?
by Danessa Lincoln · The Markets DailyDiodes Incorporated (NASDAQ:DIOD – Get Free Report) shares reached a new 52-week high on Wednesday . The stock traded as high as $61.50 and last traded at $59.2370, with a volume of 39964 shares changing hands. The stock had previously closed at $58.38.
Wall Street Analyst Weigh In
A number of research firms recently weighed in on DIOD. Wall Street Zen downgraded Diodes from a “buy” rating to a “hold” rating in a research note on Saturday, November 8th. Truist Financial upped their target price on Diodes from $51.00 to $54.00 and gave the stock a “hold” rating in a research report on Friday, December 19th. Zacks Research raised shares of Diodes from a “strong sell” rating to a “hold” rating in a research report on Monday, January 5th. Finally, Weiss Ratings raised shares of Diodes from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, January 21st. Two research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $55.33.
Check Out Our Latest Report on Diodes
Diodes Price Performance
The business’s 50-day simple moving average is $53.01 and its two-hundred day simple moving average is $52.40. The company has a quick ratio of 2.09, a current ratio of 3.32 and a debt-to-equity ratio of 0.01. The stock has a market cap of $2.76 billion, a P/E ratio of 43.16 and a beta of 1.66.
Diodes (NASDAQ:DIOD – Get Free Report) last announced its quarterly earnings results on Thursday, November 6th. The semiconductor company reported $0.37 EPS for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.01). The business had revenue of $392.17 million for the quarter, compared to analysts’ expectations of $392.17 million. Diodes had a net margin of 4.49% and a return on equity of 2.81%. The business’s quarterly revenue was up 12.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.43 earnings per share. Sell-side analysts expect that Diodes Incorporated will post 1.82 EPS for the current year.
Insiders Place Their Bets
In other Diodes news, Director Keh Shew Lu sold 6,000 shares of the company’s stock in a transaction on Wednesday, November 12th. The shares were sold at an average price of $47.42, for a total value of $284,520.00. Following the completion of the transaction, the director directly owned 244,397 shares in the company, valued at approximately $11,589,305.74. This represents a 2.40% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.30% of the stock is currently owned by company insiders.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Verdence Capital Advisors LLC raised its position in shares of Diodes by 2.3% in the 4th quarter. Verdence Capital Advisors LLC now owns 8,430 shares of the semiconductor company’s stock worth $416,000 after acquiring an additional 186 shares in the last quarter. Arizona State Retirement System grew its position in shares of Diodes by 1.4% in the 3rd quarter. Arizona State Retirement System now owns 13,720 shares of the semiconductor company’s stock worth $730,000 after buying an additional 189 shares during the period. Farther Finance Advisors LLC increased its stake in shares of Diodes by 51.4% in the 4th 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. Strs Ohio boosted its stake in Diodes by 2.2% during the fourth quarter. Strs Ohio now owns 9,100 shares of the semiconductor company’s stock worth $449,000 after acquiring an additional 200 shares in the last quarter. Finally, Forum Financial Management LP grew its holdings in Diodes by 1.7% in the third quarter. Forum Financial Management LP now owns 11,880 shares of the semiconductor company’s stock worth $632,000 after purchasing an additional 204 shares during the period. Hedge funds and other institutional investors own 99.23% of the company’s stock.
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.