Insider Selling: Diodes (NASDAQ:DIOD) CTO Sells $1,717,573.20 in Stock

Diodes Incorporated (NASDAQ:DIOD) CTO Francis Tang sold 15,330 shares of Diodes stock in a transaction dated Friday, May 29th. The stock was sold at an average price of $112.04, for a total value of $1,717,573.20. Following the transaction, the chief technology officer owned 71,438 shares of the company’s stock, valued at $8,003,913.52. The trade was a 17.67% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link.

Francis Tang also recently made the following trade(s):

• On Wednesday, May 27th, Francis Tang sold 5,000 shares of Diodes stock. The stock was sold at an average price of $110.08, for a total value of $550,400.00.
• On Tuesday, May 26th, Francis Tang sold 4,137 shares of Diodes stock. The stock was sold at an average price of $108.00, for a total value of $446,796.00.
• On Tuesday, May 12th, Francis Tang sold 3,643 shares of Diodes stock. The stock was sold at an average price of $108.00, for a total value of $393,444.00.

Diodes Trading Up 1.8%

Diodes stock opened at $116.22 on Thursday. Diodes Incorporated has a 52 week low of $42.28 and a 52 week high of $121.96. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.97 and a current ratio of 3.17. The stock has a market capitalization of $5.34 billion, a P/E ratio of 63.16 and a beta of 1.90. The stock has a 50-day simple moving average of $93.83 and a 200 day simple moving average of $70.08.

Diodes (NASDAQ:DIOD) last issued its quarterly earnings data on Thursday, May 7th. The semiconductor company reported $0.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.08. The firm had revenue of $405.47 million during the quarter, compared to the consensus estimate of $396.33 million. Diodes had a net margin of 5.50% and a return on equity of 3.48%. The business’s revenue for the quarter was up 22.1% compared to the same quarter last year. During the same period last year, the business posted $0.19 earnings per share. Analysts expect that Diodes Incorporated will post 2.58 earnings per share for the current year.

Institutional Investors Weigh In On Diodes

A number of hedge funds and other institutional investors have recently made changes to their positions in DIOD. Arrowstreet Capital Limited Partnership acquired a new stake in shares of Diodes in the third quarter valued at approximately $37,519,000. Victory Capital Management Inc. raised its position in shares of Diodes by 901.2% in the fourth quarter. Victory Capital Management Inc. now owns 509,630 shares of the semiconductor company’s stock valued at $25,145,000 after buying an additional 458,727 shares in the last quarter. Bessemer Group Inc. raised its position in shares of Diodes by 178,733.7% in the third quarter. Bessemer Group Inc. now owns 366,609 shares of the semiconductor company’s stock valued at $19,508,000 after buying an additional 366,404 shares in the last quarter. Invesco Ltd. raised its position in shares of Diodes by 183.0% in the third quarter. Invesco Ltd. now owns 519,013 shares of the semiconductor company’s stock valued at $27,617,000 after buying an additional 335,644 shares in the last quarter. Finally, Ameriprise Financial Inc. raised its position in shares of Diodes by 132.3% in the second quarter. Ameriprise Financial Inc. now owns 402,105 shares of the semiconductor company’s stock valued at $21,267,000 after buying an additional 228,976 shares in the last quarter. 99.23% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have issued reports on DIOD shares. Zacks Research upgraded shares of Diodes from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 12th. Robert W. Baird set a $120.00 price objective on shares of Diodes in a research report on Friday, May 8th. Benchmark raised their price objective on shares of Diodes from $62.00 to $80.00 and gave the stock a “buy” rating in a research report on Wednesday, February 11th. Wall Street Zen upgraded shares of Diodes from a “hold” rating to a “buy” rating in a research report on Saturday, February 14th. Finally, Truist Financial raised their price objective 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. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Diodes has a consensus rating of “Buy” and an average target price of $113.00.

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.