Diodes (NASDAQ:DIOD) Shares Gap Up – Should You Buy?

Diodes Incorporated (NASDAQ:DIOD) gapped up prior to trading on Monday . The stock had previously closed at $119.46, but opened at $125.82. Diodes shares last traded at $123.6010, with a volume of 198,926 shares changing hands.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on DIOD shares. Robert W. Baird set a $120.00 price target on shares of Diodes in a research note on Friday, May 8th. Truist Financial lifted their price objective on shares of Diodes from $98.00 to $139.00 and gave the company 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, June 15th. Three investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, Diodes currently has an average rating of “Moderate Buy” and a consensus target price of $113.00.

Diodes Price Performance

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 firm has a market capitalization of $5.16 billion, a price-to-earnings ratio of 61.01 and a beta of 1.90. The business has a fifty day moving average of $104.41 and a two-hundred day moving average of $76.47.

Diodes (NASDAQ:DIOD) last announced its quarterly earnings results on Thursday, May 7th. The semiconductor company reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.08. Diodes had a return on equity of 3.48% and a net margin of 5.50%.The business had revenue of $405.47 million during the quarter, compared to the consensus estimate of $396.33 million. During the same quarter last year, the firm posted $0.19 EPS. The company’s quarterly revenue was up 22.1% on a year-over-year basis. As a group, research analysts predict that Diodes Incorporated will post 2.58 EPS for the current fiscal year.

Insider Activity at Diodes

In related news, SVP Emily Yang sold 3,000 shares of Diodes stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $110.08, for a total transaction of $330,240.00. Following the completion of the sale, the senior vice president owned 61,878 shares of the company’s stock, valued at approximately $6,811,530.24. The trade was a 4.62% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Richard Dallas White sold 3,000 shares of the stock in a transaction dated Friday, May 29th. The shares were sold at an average price of $106.17, for a total transaction of $318,510.00. Following the completion of the transaction, the insider directly owned 8,071 shares in the company, valued at approximately $856,898.07. This represents a 27.10% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 70,981 shares of company stock worth $7,616,906 in the last quarter. 1.70% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Diodes

Several institutional investors and hedge funds have recently made changes to their positions in DIOD. JPMorgan Chase & Co. grew its position in shares of Diodes by 49.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 464,429 shares of the semiconductor company’s stock worth $24,712,000 after purchasing an additional 153,905 shares in the last quarter. Evergreen Capital Management LLC acquired a new stake in shares of Diodes in the fourth quarter valued at approximately $476,000. Bessemer Group Inc. boosted its stake in shares of Diodes by 14.5% in the fourth quarter. Bessemer Group Inc. now owns 419,648 shares of the semiconductor company’s stock valued at $20,707,000 after buying an additional 53,039 shares during the period. Tributary Capital Management LLC grew its position in Diodes by 7.1% during the fourth quarter. Tributary Capital Management LLC now owns 346,023 shares of the semiconductor company’s stock worth $17,073,000 after buying an additional 22,903 shares in the last quarter. Finally, Vanguard Group Inc. grew its position in Diodes by 2.8% during 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 in the last quarter. Institutional investors and hedge funds own 99.23% of the company’s stock.

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.