Diodes (NASDAQ:DIOD) Reaches New 12-Month High – Should You Buy?

Diodes Incorporated (NASDAQ:DIOD)’s stock price hit a new 52-week high during mid-day trading on Friday . The company traded as high as $123.50 and last traded at $119.46, with a volume of 1568845 shares traded. The stock had previously closed at $108.80.

Analyst Ratings Changes

A number of research analysts have commented on the stock. Robert W. Baird set a $120.00 price objective on shares of Diodes in a research note on Friday, May 8th. Truist Financial boosted their target price on shares of Diodes from $98.00 to $139.00 and gave the stock a “buy” rating in a research report on Friday, May 8th. Finally, Zacks Research lowered shares of Diodes from a “strong-buy” rating to a “hold” rating in a research note on Monday. Three research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, Diodes currently has an average rating of “Moderate Buy” and an average target price of $113.00.

Diodes Stock Performance

The company has a 50-day moving average of $102.20 and a 200-day moving average of $74.99. The firm has a market capitalization of $5.49 billion, a price-to-earnings ratio of 64.92 and a beta of 1.90. The company has a current ratio of 3.17, a quick ratio of 1.97 and a debt-to-equity ratio of 0.01.

Diodes (NASDAQ:DIOD) last released its earnings results on Thursday, May 7th. The semiconductor company reported $0.43 earnings per share for the quarter, beating the consensus estimate of $0.35 by $0.08. Diodes had a net margin of 5.50% and a return on equity of 3.48%. The firm had revenue of $405.47 million during the quarter, compared to analyst estimates of $396.33 million. During the same quarter in the previous year, the firm earned $0.19 earnings per share. The firm’s revenue for the quarter was up 22.1% compared to the same quarter last year. On average, equities research analysts forecast that Diodes Incorporated will post 2.58 earnings per share for the current fiscal year.

Insider Activity

In other news, CTO Francis Tang sold 15,330 shares of the company’s stock in a transaction that occurred on Friday, May 29th. The stock was sold at an average price of $112.04, for a total transaction of $1,717,573.20. Following the completion of the transaction, the chief technology officer directly owned 71,438 shares of the company’s stock, valued at approximately $8,003,913.52. This represents a 17.67% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Andy Tsong sold 1,582 shares of the stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $106.95, for a total value of $169,194.90. Following the sale, the senior vice president owned 48,170 shares in the company, valued at $5,151,781.50. The trade was a 3.18% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 70,981 shares of company stock valued at $7,616,906 over the last quarter. Corporate insiders own 1.70% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its position in Diodes by 2.8% in the fourth quarter. Vanguard Group Inc. now owns 6,154,859 shares of the semiconductor company’s stock worth $303,681,000 after buying an additional 166,603 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of Diodes by 2.3% during the first quarter. Dimensional Fund Advisors LP now owns 2,436,359 shares of the semiconductor company’s stock valued at $166,294,000 after acquiring an additional 53,934 shares during the period. Geode Capital Management LLC grew its position in shares of Diodes by 0.9% during the fourth quarter. Geode Capital Management LLC now owns 1,350,436 shares of the semiconductor company’s stock worth $66,640,000 after acquiring an additional 11,799 shares during the last quarter. Global Alpha Capital Management Ltd. increased its holdings in shares of Diodes by 1.6% in the 4th quarter. Global Alpha Capital Management Ltd. now owns 855,090 shares of the semiconductor company’s stock worth $42,190,000 after acquiring an additional 13,420 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Diodes by 2.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 797,316 shares of the semiconductor company’s stock worth $39,340,000 after acquiring an additional 17,506 shares during the period. Institutional investors and hedge funds 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.