Diodes Incorporated (NASDAQ:DIOD) Given Consensus Rating of “Buy” by Analysts

by · The Cerbat Gem

Diodes Incorporated (NASDAQ:DIOD – Get Free Report) has received a consensus recommendation of “Buy” from the five analysts that are covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $113.00.

A number of research analysts recently issued reports on the stock. Robert W. Baird set a $120.00 price target on shares of Diodes in a research report on Friday, May 8th. 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 report on Friday, May 8th. Finally, Zacks Research raised shares of Diodes from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 12th.

Get Our Latest Analysis on Diodes

Diodes Price Performance

Shares of Diodes stock opened at $113.15 on Thursday. The firm has a market cap of $5.20 billion, a PE ratio of 61.49 and a beta of 1.90. Diodes has a 12-month low of $42.28 and a 12-month high of $121.96. The company has a quick ratio of 1.97, a current ratio of 3.17 and a debt-to-equity ratio of 0.01. The company’s fifty day simple moving average is $99.75 and its two-hundred day simple moving average is $73.59.

Diodes (NASDAQ:DIOD – Get Free Report) last posted its earnings results on Thursday, May 7th. The semiconductor company reported $0.43 EPS for the quarter, topping the consensus estimate of $0.35 by $0.08. Diodes had a net margin of 5.50% and a return on equity of 3.48%. The firm had revenue of $405.47 million during the quarter, compared to analysts’ expectations of $396.33 million. During the same period last year, the company posted $0.19 EPS. The company’s quarterly revenue was up 22.1% compared to the same quarter last year. As a group, equities analysts expect that Diodes will post 2.58 EPS for the current year.

Insider Activity

In other news, CTO Francis Tang sold 15,330 shares of the business’s stock in a transaction that occurred 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 transaction, the chief technology officer directly owned 71,438 shares of the company’s stock, valued at $8,003,913.52. The trade was a 17.67% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jin Zhao sold 3,689 shares of the business’s stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $106.86, for a total transaction of $394,206.54. Following the transaction, the insider directly owned 43,531 shares of the company’s stock, valued at $4,651,722.66. The trade was a 7.81% decrease in their ownership of the stock. 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 three months. Corporate insiders own 1.70% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the stock. Integrated Investment Consultants LLC purchased a new position in shares of Diodes during the first quarter valued at approximately $216,000. Prospect Capital Advisors LLC bought a new stake in Diodes during the first quarter valued at approximately $2,853,000. Bank of America Corp DE grew its position in Diodes by 11.3% during the first quarter. Bank of America Corp DE now owns 390,807 shares of the semiconductor company’s stock valued at $26,676,000 after buying an additional 39,668 shares during the period. California State Teachers Retirement System grew its position in Diodes by 23.8% during the first quarter. California State Teachers Retirement System now owns 54,987 shares of the semiconductor company’s stock valued at $3,753,000 after buying an additional 10,579 shares during the period. Finally, Empowered Funds LLC bought a new stake in Diodes during the first quarter valued at approximately $344,000. 99.23% of the stock is owned by hedge funds and other institutional investors.

Diodes Company Profile

(Get Free Report)

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.

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