Diodes (NASDAQ:DIOD) Hits New 52-Week High - Time to Buy?

Key Points

• Diodes (NASDAQ:DIOD) hit a new 52-week high of $108.00 on Friday, last trading near $107.73 on roughly 27,700 shares.
• Several analysts have upgraded DIOD and raised targets (Benchmark, Truist, Robert W. Baird), and the stock carries a consensus Moderate Buy rating with an average price target of $92.67 (below the current price).
• The company beat quarterly estimates with EPS $0.34 (vs. $0.26 est.) and revenue of $391.6M (up 15.4% YoY), but it trades at a high valuation (P/E ~75.9) and insiders have sold roughly 116,205 shares (~$7.8M) in the past 90 days.

Diodes Incorporated (NASDAQ:DIOD - Get Free Report) hit a new 52-week high during trading on Friday . The company traded as high as $108.00 and last traded at $107.7250, with a volume of 27687 shares trading hands. The stock had previously closed at $107.15.

Wall Street Analyst Weigh In

DIOD has been the topic of a number of recent research reports. Benchmark boosted their target price on Diodes from $62.00 to $80.00 and gave the company a "buy" rating in a research note on Wednesday, February 11th. Truist Financial upgraded Diodes from a "hold" rating to a "buy" rating and upped their price target for the stock from $67.00 to $98.00 in a research note on Monday, April 13th. Weiss Ratings upgraded Diodes from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Wednesday, January 21st. Wall Street Zen upgraded Diodes from a "hold" rating to a "buy" rating in a research note on Saturday, February 14th. Finally, Robert W. Baird upped their price target on Diodes from $80.00 to $100.00 and gave the stock an "outperform" rating in a research note on Tuesday, April 7th. Three research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $92.67.

Diodes Stock Performance

The company has a market cap of $4.95 billion, a P/E ratio of 75.86 and a beta of 1.58. The firm has a 50 day moving average price of $76.62 and a 200-day moving average price of $61.81. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.08 and a current ratio of 3.32.

Diodes (NASDAQ:DIOD - Get Free Report) last released its quarterly earnings results on Tuesday, February 10th. The semiconductor company reported $0.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.26 by $0.08. Diodes had a return on equity of 2.95% and a net margin of 4.46%.The company had revenue of $391.58 million during the quarter, compared to the consensus estimate of $380.03 million. During the same quarter in the prior year, the company posted $0.27 EPS. The firm's revenue was up 15.4% on a year-over-year basis. On average, research analysts predict that Diodes Incorporated will post 2.45 EPS for the current year.

Insider Buying and Selling at Diodes

In related news, CEO Gary Yu sold 2,900 shares of the business's stock in a transaction dated Tuesday, February 3rd. The stock was sold at an average price of $60.85, for a total transaction of $176,465.00. Following the completion of the transaction, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Keh Shew Lu sold 111,000 shares of the business's 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 transaction, the director directly owned 180,131 shares of the company's stock, valued at $12,205,676.56. This represents a 38.13% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 116,205 shares of company stock worth $7,837,213 in the last ninety days. 1.70% of the stock is owned by insiders.

Hedge Funds Weigh In On Diodes

Large investors have recently made changes to their positions in the business. EverSource Wealth Advisors LLC lifted its position 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 worth $25,000 after purchasing an additional 205 shares during the last quarter. Salomon & Ludwin LLC acquired a new position in shares of Diodes during the 3rd quarter worth about $25,000. Geneos Wealth Management Inc. acquired a new position in Diodes in the 2nd quarter valued at approximately $30,000. Farther Finance Advisors LLC raised its holdings in Diodes by 51.4% in the 4th quarter. Farther Finance Advisors LLC now owns 589 shares of the semiconductor company's stock valued at $29,000 after acquiring an additional 200 shares in the last quarter. Finally, MAI Capital Management raised its holdings in Diodes by 150.0% in the 3rd quarter. MAI Capital Management now owns 685 shares of the semiconductor company's stock valued at $36,000 after acquiring an additional 411 shares in the last quarter. Institutional investors and hedge funds 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.

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