Diodes (NASDAQ:DIOD) Shares Gap Up – Here’s What Happened

Diodes Incorporated (NASDAQ:DIOD)’s share price gapped up prior to trading on Monday . The stock had previously closed at $61.65, but opened at $65.30. Diodes shares last traded at $66.30, with a volume of 35,297 shares changing hands.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Truist Financial raised their price objective on shares of Diodes from $54.00 to $67.00 and gave the company a “hold” rating in a report on Wednesday, February 11th. Benchmark upped their price target on shares of Diodes from $62.00 to $80.00 and gave the company a “buy” rating in a research report on Wednesday, February 11th. Wall Street Zen raised shares of Diodes from a “hold” rating to a “buy” rating in a research note on Saturday, February 14th. Zacks Research lowered shares of Diodes from a “hold” rating to a “strong sell” rating in a report on Wednesday, February 11th. Finally, Weiss Ratings raised shares of Diodes from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, January 21st. Two investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $65.67.

Diodes Stock Performance

The stock has a 50 day moving average of $62.15 and a 200 day moving average of $55.19. The company has a market capitalization of $3.05 billion, a price-to-earnings ratio of 46.68 and a beta of 1.61. The company has a quick ratio of 2.08, a current ratio of 3.32 and a debt-to-equity ratio of 0.01.

Diodes (NASDAQ:DIOD) last released its earnings results on Tuesday, February 10th. The semiconductor company reported $0.34 earnings per share for the quarter, beating analysts’ consensus estimates of $0.26 by $0.08. The business had revenue of $391.58 million during the quarter, compared to the consensus estimate of $380.03 million. Diodes had a net margin of 4.46% and a return on equity of 2.95%. The company’s revenue for the quarter was up 15.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.27 EPS. As a group, analysts predict that Diodes Incorporated will post 1.82 EPS for the current year.

Insider Activity at Diodes

In other Diodes news, CFO Brett R. Whitmire sold 830 shares of the company’s stock in a transaction on Tuesday, February 3rd. The shares were sold at an average price of $60.85, for a total transaction of $50,505.50. Following the sale, the chief financial officer owned 67,141 shares of the company’s stock, valued at approximately $4,085,529.85. This represents a 1.22% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Keh Shew Lu sold 111,000 shares of the stock in a transaction dated Friday, February 20th. The stock was sold at an average price of $67.76, for a total value of $7,521,360.00. Following the sale, the director owned 180,131 shares of the company’s stock, valued at approximately $12,205,676.56. The trade was a 38.13% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 116,205 shares of company stock valued at $7,837,213 over the last 90 days. 2.30% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in DIOD. Arrowstreet Capital Limited Partnership acquired a new stake in Diodes during the third quarter worth approximately $37,519,000. Victory Capital Management Inc. lifted its stake in Diodes by 901.2% in the fourth quarter. Victory Capital Management Inc. now owns 509,630 shares of the semiconductor company’s stock valued at $25,145,000 after buying an additional 458,727 shares during the period. Bessemer Group Inc. boosted its holdings in shares of Diodes by 178,733.7% during the 3rd quarter. Bessemer Group Inc. now owns 366,609 shares of the semiconductor company’s stock worth $19,508,000 after buying an additional 366,404 shares in the last quarter. Invesco Ltd. boosted its holdings in shares of Diodes by 183.0% during the 3rd quarter. Invesco Ltd. now owns 519,013 shares of the semiconductor company’s stock worth $27,617,000 after buying an additional 335,644 shares in the last quarter. Finally, Tributary Capital Management LLC grew its position in shares of Diodes by 92.5% during the 3rd quarter. Tributary Capital Management LLC now owns 646,240 shares of the semiconductor company’s stock worth $34,386,000 after buying an additional 310,500 shares during the period. 99.23% of the stock is owned by institutional investors and hedge funds.

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.