Diodes (NASDAQ:DIOD) Stock Price Passes Above 200-Day Moving Average – Here’s What Happened
by Michael Walen · The Markets DailyDiodes Incorporated (NASDAQ:DIOD – Get Free Report) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $55.03 and traded as high as $63.95. Diodes shares last traded at $63.01, with a volume of 500,797 shares trading hands.
Analyst Upgrades and Downgrades
Several research analysts have commented on DIOD shares. Benchmark raised their target price on Diodes from $62.00 to $80.00 and gave the stock a “buy” rating in a research note on Wednesday, February 11th. 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 research report on Wednesday, February 11th. Weiss Ratings raised shares of Diodes from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, January 21st. Wall Street Zen raised shares of Diodes from a “hold” rating to a “buy” rating in a report on Saturday, February 14th. Finally, Zacks Research lowered shares of Diodes from a “hold” rating to a “strong sell” rating in a research report on Wednesday, February 11th. Two equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $65.67.
Check Out Our Latest Stock Report on DIOD
Diodes Stock Down 3.3%
The stock’s fifty day moving average price is $61.66 and its 200 day moving average price is $55.09. The company has a current ratio of 3.32, a quick ratio of 2.08 and a debt-to-equity ratio of 0.01. The stock has a market cap of $2.83 billion, a P/E ratio of 43.42 and a beta of 1.61.
Diodes (NASDAQ:DIOD – Get Free Report) last released its earnings results on Tuesday, February 10th. The semiconductor company reported $0.34 EPS for the quarter, beating analysts’ consensus estimates of $0.26 by $0.08. The business had revenue of $391.58 million for the quarter, compared to analysts’ expectations of $380.03 million. Diodes had a return on equity of 2.95% and a net margin of 4.46%.The firm’s revenue was up 15.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.27 earnings per share. As a group, research analysts forecast that Diodes Incorporated will post 1.82 earnings per share for the current fiscal year.
Insider Transactions at Diodes
In other Diodes news, CFO Brett R. Whitmire sold 830 shares of the business’s stock in a transaction on Tuesday, February 3rd. The shares were sold at an average price of $60.85, for a total value of $50,505.50. Following the completion of the sale, the chief financial officer directly owned 67,141 shares of the company’s stock, valued at $4,085,529.85. The trade was a 1.22% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Gary Yu sold 2,900 shares of the company’s stock in a transaction dated Tuesday, February 3rd. The shares were sold at an average price of $60.85, for a total transaction of $176,465.00. Following the sale, the chief executive officer owned 111,671 shares of the company’s stock, valued at approximately $6,795,180.35. The trade was a 2.53% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 116,205 shares of company stock worth $7,837,213. Corporate insiders own 1.90% of the company’s stock.
Institutional Investors Weigh In On Diodes
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Bessemer Group Inc. increased its stake in Diodes by 178,733.7% in the 3rd quarter. Bessemer Group Inc. now owns 366,609 shares of the semiconductor company’s stock worth $19,508,000 after purchasing an additional 366,404 shares during the period. Allianz Asset Management GmbH increased its stake in shares of Diodes by 27.0% in the third quarter. Allianz Asset Management GmbH now owns 145,889 shares of the semiconductor company’s stock worth $7,763,000 after buying an additional 31,013 shares during the period. Rhumbline Advisers increased its stake in shares of Diodes by 7.9% in the second quarter. Rhumbline Advisers now owns 146,315 shares of the semiconductor company’s stock worth $7,739,000 after buying an additional 10,744 shares during the period. Pacer Advisors Inc. bought a new stake in Diodes during the 3rd quarter valued at $7,393,000. Finally, JPMorgan Chase & Co. boosted its position in Diodes by 49.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 464,429 shares of the semiconductor company’s stock valued at $24,712,000 after buying an additional 153,905 shares during the period. 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.