Diodes (NASDAQ:DIOD) Sets New 12-Month High – Here’s Why

Shares of Diodes Incorporated (NASDAQ:DIOD) reached a new 52-week high during trading on Tuesday . The stock traded as high as $98.55 and last traded at $98.6950, with a volume of 22620 shares traded. The stock had previously closed at $96.66.

Wall Street Analysts Forecast Growth

Several research firms have commented on DIOD. Wall Street Zen raised shares of Diodes from a “hold” rating to a “buy” rating in a research note on Saturday, February 14th. Weiss Ratings raised shares of Diodes from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, January 21st. Zacks Research raised shares of Diodes from a “strong sell” rating to a “hold” rating in a research note on Monday, April 13th. Robert W. Baird lifted their target price on shares of Diodes from $80.00 to $100.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 7th. Finally, Benchmark lifted their target price on shares of Diodes from $62.00 to $80.00 and gave the stock a “buy” rating in a research note on Wednesday, February 11th. Three research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $92.67.

Diodes Price Performance

The company’s 50 day moving average price is $72.74 and its 200-day moving average price is $59.77. The company has a market capitalization of $4.50 billion, a PE ratio of 68.80 and a beta of 1.58. The company has a current ratio of 3.32, a quick ratio of 2.08 and a debt-to-equity ratio of 0.01.

Diodes (NASDAQ:DIOD) last announced its quarterly earnings data on Tuesday, February 10th. The semiconductor company reported $0.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.26 by $0.08. Diodes had a net margin of 4.46% and a return on equity of 2.95%. The company had revenue of $391.58 million during the quarter, compared to analysts’ expectations of $380.03 million. During the same period in the previous year, the company earned $0.27 EPS. The business’s quarterly revenue was up 15.4% compared to the same quarter last year. On average, sell-side analysts forecast that Diodes Incorporated will post 2.45 earnings per share for the current fiscal year.

Insider Activity at Diodes

In other news, Director Keh Shew Lu sold 111,000 shares of the business’s stock in a transaction on Friday, February 20th. The shares were sold at an average price of $67.76, for a total transaction of $7,521,360.00. Following the completion of the sale, the director directly owned 180,131 shares of the company’s stock, valued at $12,205,676.56. The trade was a 38.13% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Jin Zhao sold 525 shares of the business’s stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $59.19, for a total transaction of $31,074.75. Following the sale, the insider directly owned 49,980 shares of the company’s stock, valued at $2,958,316.20. This represents a 1.04% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 116,205 shares of company stock worth $7,837,213. 1.70% of the stock is owned by corporate insiders.

Institutional Trading of Diodes

Several institutional investors have recently made changes to their positions in DIOD. AQR Capital Management LLC grew its stake in shares of Diodes by 12.4% during the 1st quarter. AQR Capital Management LLC now owns 6,028 shares of the semiconductor company’s stock valued at $260,000 after buying an additional 663 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Diodes by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 27,148 shares of the semiconductor company’s stock worth $1,172,000 after purchasing an additional 1,186 shares during the period. Goldman Sachs Group Inc. boosted its position in Diodes by 13.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 391,005 shares of the semiconductor company’s stock worth $16,880,000 after purchasing an additional 47,500 shares during the period. Woodline Partners LP purchased a new stake in Diodes during the 1st quarter worth $559,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in Diodes by 6.8% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 104,719 shares of the semiconductor company’s stock worth $4,521,000 after purchasing an additional 6,708 shares during the period. 99.23% of the stock is owned by hedge funds and other institutional investors.

Diodes Company Profile

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.