Diodes Incorporated (DIOD) Hits New 52-Week High at $30.57
Diodes Incorporated (NASDAQ:DIOD) reached a new 52-week high on Tuesday . The stock traded as high as $30.57 and last traded at $30.58, with a volume of 172,768 shares. The stock had previously closed at $30.50.
A number of brokerages have weighed in on DIOD. Sidoti assumed coverage on Diodes in a report on Thursday, September 21st. They issued a “neutral” rating and a $32.00 target price on the stock. Cleveland Research cut Diodes from a “buy” rating to a “neutral” rating in a report on Thursday, July 20th. Zacks Investment Research raised Diodes from a “hold” rating to a “buy” rating and set a $30.00 price target for the company in a report on Friday, August 11th. BidaskClub upgraded Diodes from a “sell” rating to a “hold” rating in a research report on Monday, July 24th. Finally, Robert W. Baird restated an “outperform” rating and set a $30.00 price objective on shares of Diodes in a research report on Friday, June 9th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company’s stock. Diodes has an average rating of “Hold” and an average price target of $30.67.
The stock has a 50-day moving average price of $27.83 and a 200-day moving average price of $25.69. The company has a market capitalization of $1.51 billion, a price-to-earnings ratio of 58.11 and a beta of 1.26.
Diodes (NASDAQ:DIOD) last issued its earnings results on Tuesday, August 8th. The semiconductor company reported $0.36 EPS for the quarter, hitting analysts’ consensus estimates of $0.36. The company had revenue of $264.20 million for the quarter, compared to analysts’ expectations of $261.15 million. Diodes had a net margin of 2.68% and a return on equity of 5.64%. The firm’s revenue was up 11.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.20 EPS. On average, equities analysts anticipate that Diodes Incorporated will post $1.28 earnings per share for the current year.
In related news, CEO Keh Shew Lu sold 8,505 shares of the stock in a transaction dated Wednesday, July 5th. The stock was sold at an average price of $23.81, for a total transaction of $202,504.05. Following the completion of the sale, the chief executive officer now directly owns 1,032,021 shares in the company, valued at approximately $24,572,420.01. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Semiconductor Corp Lite-On sold 116,209 shares of the stock in a transaction dated Wednesday, August 16th. The shares were sold at an average price of $26.95, for a total value of $3,131,832.55. Following the sale, the insider now owns 8,045,778 shares of the company’s stock, valued at $216,833,717.10. The disclosure for this sale can be found here. Insiders have sold 344,308 shares of company stock worth $9,359,790 over the last ninety days. Insiders own 7.00% of the company’s stock.
Institutional investors have recently made changes to their positions in the business. BlackRock Inc. lifted its position in Diodes by 50,610.4% in the first quarter. BlackRock Inc. now owns 4,634,934 shares of the semiconductor company’s stock valued at $111,471,000 after purchasing an additional 4,625,794 shares during the last quarter. Numeric Investors LLC boosted its stake in shares of Diodes by 3,432.0% during the second quarter. Numeric Investors LLC now owns 342,600 shares of the semiconductor company’s stock valued at $8,233,000 after purchasing an additional 332,900 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Diodes by 8.8% during the second quarter. Dimensional Fund Advisors LP now owns 3,247,902 shares of the semiconductor company’s stock valued at $78,048,000 after purchasing an additional 261,522 shares during the period. Marshall Wace North America L.P. bought a new position in shares of Diodes in the second quarter worth approximately $4,078,000. Finally, Martingale Asset Management L P bought a new position in shares of Diodes in the second quarter worth approximately $3,985,000. 73.74% of the stock is currently owned by institutional investors and hedge funds.
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Diodes Incorporated is a manufacturer and supplier of application-specific standard products within the discrete, logic, analog and mixed-signal semiconductor markets, serving the consumer electronics, computing, communications, industrial and automotive markets. The Company’s products include diodes; rectifiers; transistors; metal-oxide semiconductor field-effect transistors (MOSFETs); protection devices; amplifiers and comparators; Hall-effect and temperature sensors, and power management devices, including light emitting diode (LED) drivers, alternating current (AC)-direct current (DC) and DC-DC switching, linear voltage regulators and voltage references, along with special function devices, such as universal serial bus (USB) power switches, load switches, voltage supervisors and motor controllers.
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