Diodes (NASDAQ:DIOD) Announces Quarterly Earnings Results

Diodes (NASDAQ:DIOD) announced its quarterly earnings results on Tuesday. The semiconductor company reported $0.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.26 by $0.08, Zacks reports. Diodes had a net margin of 4.49% and a return on equity of 2.81%.

Diodes Stock Performance

NASDAQ DIOD traded up $0.59 on Tuesday, reaching $61.70. 298,033 shares of the stock were exchanged, compared to its average volume of 306,054. The company has a current ratio of 3.32, a quick ratio of 2.09 and a debt-to-equity ratio of 0.01. Diodes has a one year low of $32.93 and a one year high of $62.67. The firm has a market capitalization of $2.86 billion, a PE ratio of 44.71 and a beta of 1.66. The company’s 50-day simple moving average is $54.13 and its two-hundred day simple moving average is $52.60.

Insider Transactions at Diodes

In related news, insider Jin Zhao sold 525 shares of the stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $59.19, for a total transaction of $31,074.75. Following the completion of the sale, the insider owned 49,980 shares in the company, valued at approximately $2,958,316.20. This trade represents a 1.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Gary Yu sold 2,900 shares of Diodes stock in a transaction that occurred on Tuesday, February 3rd. The shares were sold at an average price of $60.85, for a total value of $176,465.00. Following the sale, the chief executive officer directly owned 111,671 shares in the company, valued at $6,795,180.35. This trade represents a 2.53% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 11,205 shares of company stock valued at $600,373. Company insiders own 2.30% of the company’s stock.

Institutional Investors Weigh In On Diodes

Institutional investors and hedge funds have recently modified their holdings of the stock. PharVision Advisers LLC bought a new position in shares of Diodes during the third quarter worth $242,000. Mercer Global Advisors Inc. ADV lifted its stake in Diodes by 24.3% in the 3rd quarter. Mercer Global Advisors Inc. ADV now owns 6,006 shares of the semiconductor company’s stock worth $320,000 after purchasing an additional 1,176 shares in the last quarter. Occudo Quantitative Strategies LP bought a new position in shares of Diodes during the 3rd quarter valued at about $258,000. Mackenzie Financial Corp purchased a new position in shares of Diodes during the third quarter valued at about $312,000. Finally, Tower Research Capital LLC TRC increased its holdings in shares of Diodes by 431.7% in the second quarter. Tower Research Capital LLC TRC now owns 5,508 shares of the semiconductor company’s stock worth $291,000 after purchasing an additional 4,472 shares during the last quarter. Institutional investors own 99.23% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on DIOD shares. Wall Street Zen downgraded shares of Diodes from a “buy” rating to a “hold” rating in a research report on Saturday, November 8th. Truist Financial upped their price objective on Diodes from $51.00 to $54.00 and gave the company a “hold” rating in a research report on Friday, December 19th. Weiss Ratings raised Diodes from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, January 21st. Finally, Zacks Research upgraded Diodes from a “strong sell” rating to a “hold” rating in a research note on Monday, January 5th. Two analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, Diodes currently has an average rating of “Hold” and an average price target of $55.33.

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.