Diodes Incorporated (NASDAQ:DIOD) Short Interest Update

Key Points

• Short interest jumped 18.7% in March to 1,927,962 shares (about 4.3% of the float) with a short-interest ratio of 3.7 days.
• Insider selling has been active—insiders sold 116,205 shares (~$7.84M) over the last 90 days (including CEO Gary Yu), while insiders own 2.30% of the stock and institutional investors hold roughly 99.23%.
• Operational and market backdrop: Diodes beat quarterly EPS and revenue estimates ($0.34 vs $0.26; $391.6M vs $380.0M), shares trade around $68.34, and analysts’ ratings are mixed with a consensus price target of $65.67.

Diodes Incorporated (NASDAQ:DIOD - Get Free Report) was the target of a large increase in short interest during the month of March. As of March 13th, there was short interest totaling 1,927,962 shares, an increase of 18.7% from the February 26th total of 1,624,400 shares. Based on an average daily trading volume, of 516,684 shares, the short-interest ratio is presently 3.7 days. Approximately 4.3% of the shares of the company are short sold.

Insider Buying and Selling

In related news, CEO Gary Yu sold 2,900 shares of the firm's stock in a transaction that occurred on Tuesday, February 3rd. The stock was sold at an average price of $60.85, for a total value 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. This trade represents a 2.53% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Emily Yang sold 950 shares of the stock in a transaction dated Tuesday, February 3rd. The stock was sold at an average price of $60.85, for a total transaction of $57,807.50. Following the completion of the sale, the senior vice president directly owned 74,032 shares in the company, valued at approximately $4,504,847.20. This trade represents a 1.27% decrease in their position. The SEC filing for this sale provides additional information. 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 corporate insiders.

Institutional Trading of Diodes

Hedge funds have recently made changes to their positions in the business. Salomon & Ludwin LLC bought a new stake in shares of Diodes in the third quarter valued at about $25,000. EverSource Wealth Advisors LLC grew its holdings in shares of Diodes by 77.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 470 shares of the semiconductor company's stock valued at $25,000 after purchasing an additional 205 shares during the last quarter. Farther Finance Advisors LLC grew its stake in shares of Diodes by 51.4% during the fourth quarter. Farther Finance Advisors LLC now owns 589 shares of the semiconductor company's stock worth $29,000 after buying an additional 200 shares during the last quarter. Geneos Wealth Management Inc. bought a new stake in shares of Diodes during the second quarter worth about $30,000. Finally, MAI Capital Management grew its stake in shares of Diodes by 150.0% in the third quarter. MAI Capital Management now owns 685 shares of the semiconductor company's stock worth $36,000 after purchasing an additional 411 shares during the last quarter. 99.23% of the stock is owned by institutional investors and hedge funds.

Diodes Price Performance

Shares of DIOD stock traded up $4.01 during trading hours on Tuesday, reaching $68.34. 486,194 shares of the company were exchanged, compared to its average volume of 439,139. The stock's fifty day moving average is $65.00 and its two-hundred day moving average is $56.30. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.32 and a quick ratio of 2.08. Diodes has a fifty-two week low of $32.93 and a fifty-two week high of $81.71. The company has a market cap of $3.14 billion, a price-to-earnings ratio of 48.13 and a beta of 1.61.

Diodes (NASDAQ:DIOD - Get Free Report) last released its quarterly earnings data 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 during the quarter, compared to the consensus estimate 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 company posted $0.27 earnings per share. Sell-side analysts forecast that Diodes will post 1.82 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

DIOD has been the subject of a number of analyst reports. Wall Street Zen raised shares of Diodes from a "hold" rating to a "buy" rating in a research note on Saturday, February 14th. Truist Financial increased their target price on shares of Diodes from $54.00 to $67.00 and gave the stock 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 research report on Wednesday, January 21st. Zacks Research cut Diodes from a "hold" rating to a "strong sell" rating in a research report on Wednesday, February 11th. Finally, Benchmark upped their price objective on shares of Diodes from $62.00 to $80.00 and gave the stock a "buy" rating in a report on Wednesday, February 11th. Two analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $65.67.

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.

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