Diodes (NASDAQ:DIOD) Trading 4% Higher

Shares of Diodes Incorporated (NASDAQ:DIOD) 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.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. Truist Financial dropped their price target on Diodes from $78.00 to $67.00 and set a “hold” rating on the stock in a research report on Wednesday, February 7th. Wells Fargo & Company decreased their price objective on shares of Diodes from $80.00 to $70.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 7th. Finally, TD Cowen lifted their price objective on shares of Diodes from $72.00 to $85.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 7th. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $72.40.

Diodes Trading Up 2.9 %

The firm has a 50-day simple moving average of $68.57 and a 200-day simple moving average of $71.18. The company has a quick ratio of 2.03, a current ratio of 3.02 and a debt-to-equity ratio of 0.01. The stock has a market cap of $3.23 billion, a PE ratio of 13.93 and a beta of 1.46.

Diodes (NASDAQ:DIOD) last announced its quarterly earnings results 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 for 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 revenue was down 35.0% on a year-over-year basis. During the same period in the prior year, the business posted $1.73 earnings per share. Equities analysts forecast that Diodes Incorporated will post 2.55 earnings per share for the current year.

Insider Buying and Selling at Diodes

In related news, CEO Keh Shew Lu sold 6,000 shares of the company’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $68.98, for a total value of $413,880.00. Following the transaction, the chief executive officer now directly owns 274,492 shares in the company, valued at $18,934,458.16. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, CFO Brett R. Whitmire sold 3,400 shares of the business’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 sale, the chief financial officer now owns 48,265 shares of the company’s stock, valued at approximately $3,248,234.50. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Keh Shew Lu sold 6,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $68.98, for a total value of $413,880.00. Following the transaction, the chief executive officer now owns 274,492 shares in the company, valued at $18,934,458.16. The disclosure for this sale can be found here. Insiders have sold a total of 25,900 shares of company stock valued at $1,774,570 in the last 90 days. Corporate insiders own 2.60% of the company’s stock.

Institutional Trading of Diodes

A number of institutional investors have recently made changes to their positions in the stock. BlackRock Inc. increased its holdings in 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 during the period. Vanguard Group Inc. raised its holdings in shares of Diodes by 1.3% during the fourth quarter. Vanguard Group Inc. now owns 5,650,727 shares of the semiconductor company’s stock valued at $454,997,000 after acquiring an additional 70,121 shares in the last quarter. Earnest Partners LLC boosted its holdings in Diodes by 2.3% in the third quarter. Earnest Partners LLC now owns 2,134,515 shares of the semiconductor company’s stock valued at $168,285,000 after acquiring an additional 47,472 shares in the last quarter. Finally, State Street Corp raised its holdings in Diodes by 2.1% in the 2nd quarter. State Street Corp now owns 2,025,050 shares of the semiconductor company’s stock worth $187,297,000 after purchasing an additional 42,310 shares in the last quarter. Hedge funds and other 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.