Diodes (NASDAQ:DIOD) Shares Gap Up – Time to Buy?

Shares of Diodes Incorporated (NASDAQ:DIOD) gapped up before the market opened on Tuesday . The stock had previously closed at $92.29, but opened at $99.28. Diodes shares last traded at $94.60, with a volume of 15,665 shares.

Wall Street Analysts Forecast Growth

DIOD has been the subject of a number of research reports. Zacks Research cut shares of Diodes from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 15th. Robert W. Baird set a $120.00 target price on shares of Diodes in a report on Friday, May 8th. Finally, Truist Financial lifted 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. Three analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $113.00.

Diodes Price Performance

The firm has a fifty day moving average of $105.44 and a two-hundred day moving average of $81.35. The company has a current ratio of 3.17, a quick ratio of 1.97 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $4.35 billion, a PE ratio of 51.51 and a beta of 1.88.

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

Insider Buying and Selling

In related news, CTO Francis Tang sold 15,330 shares of the company’s stock in a transaction on Friday, May 29th. The shares were sold at an average price of $112.04, for a total transaction of $1,717,573.20. Following the completion of the sale, the chief technology officer directly owned 71,438 shares in the company, valued at $8,003,913.52. This represents a 17.67% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Gary Yu sold 3,632 shares of the stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $110.08, for a total transaction of $399,810.56. Following the sale, the chief executive officer directly owned 108,147 shares of the company’s stock, valued at $11,904,821.76. The trade was a 3.25% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 70,981 shares of company stock valued at $7,616,906 over the last quarter. Company insiders own 1.70% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. raised its position in Diodes by 2.8% during the 4th quarter. Vanguard Group Inc. now owns 6,154,859 shares of the semiconductor company’s stock valued at $303,681,000 after purchasing an additional 166,603 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of Diodes by 2.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,436,359 shares of the semiconductor company’s stock worth $166,294,000 after buying an additional 53,934 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Diodes by 0.9% in the 4th quarter. Geode Capital Management LLC now owns 1,350,436 shares of the semiconductor company’s stock worth $66,640,000 after buying an additional 11,799 shares during the last quarter. Global Alpha Capital Management Ltd. increased its stake in shares of Diodes by 1.6% during the fourth quarter. Global Alpha Capital Management Ltd. now owns 855,090 shares of the semiconductor company’s stock valued at $42,190,000 after buying an additional 13,420 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Diodes by 2.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 797,316 shares of the semiconductor company’s stock valued at $39,340,000 after buying an additional 17,506 shares during the period. Hedge funds and other 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.