Diodes (NASDAQ:DIOD) Reaches New 52-Week High – Here’s Why

Shares of Diodes Incorporated (NASDAQ:DIOD) 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. The stock had previously closed at $108.80.

Analysts Set New Price Targets

Several research firms have recently issued reports on DIOD. Truist Financial increased their price target on Diodes from $98.00 to $139.00 and gave the stock a “buy” rating in a research note on Friday, May 8th. Zacks Research downgraded shares of Diodes from a “strong-buy” rating to a “hold” rating in a report on Monday. Finally, Robert W. Baird set a $120.00 target price on shares of Diodes in a research report on Friday, May 8th. Three investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $113.00.

Diodes Trading Up 9.8%

The company has a quick ratio of 1.97, a current ratio of 3.17 and a debt-to-equity ratio of 0.01. 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 firm’s 50 day moving average is $102.20 and its 200 day moving average is $74.99.

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

Insider Activity at Diodes

In related news, SVP Andy Tsong sold 1,582 shares of the stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $106.95, for a total transaction of $169,194.90. Following the completion of the sale, the senior vice president directly owned 48,170 shares in the company, valued at approximately $5,151,781.50. This trade represents a 3.18% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Emily Yang sold 3,000 shares of the stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $110.08, for a total value of $330,240.00. Following the sale, the senior vice president owned 61,878 shares of the company’s stock, valued at approximately $6,811,530.24. This represents a 4.62% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 70,981 shares of company stock worth $7,616,906. 1.70% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Diodes

Several large investors have recently made changes to their positions in DIOD. Captrust Financial Advisors raised its position in Diodes by 3.1% during the fourth quarter. Captrust Financial Advisors now owns 4,882 shares of the semiconductor company’s stock valued at $241,000 after acquiring an additional 145 shares in the last quarter. Verdence Capital Advisors LLC raised its holdings in 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 during the period. Farther Finance Advisors LLC lifted its position in shares of Diodes by 51.4% during the 4th quarter. Farther Finance Advisors LLC now owns 589 shares of the semiconductor company’s stock worth $29,000 after purchasing an additional 200 shares during the last quarter. Strs Ohio boosted its position in shares of Diodes by 2.2% in the fourth quarter. Strs Ohio now owns 9,100 shares of the semiconductor company’s stock valued at $449,000 after acquiring an additional 200 shares during the period. Finally, EverSource Wealth Advisors LLC grew its position in Diodes by 77.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 470 shares of the semiconductor company’s stock worth $25,000 after purchasing an additional 205 shares during the last quarter. 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.