Diodes (NASDAQ:DIOD) Sets New 12-Month High - Here's What Happened

Key Points

• Diodes (NASDAQ:DIOD) hit a new 52-week high of $116.49 (last $116.05) on Thursday, trading up roughly 3.2% with about 759,235 shares changing hands.
• Several analysts raised ratings and price targets; the consensus is a Moderate Buy with an average price target of $92.67, notably below the current share price.
• Fundamentals showed momentum as Diodes topped expectations with $0.34 EPS vs. $0.26 expected and $391.6M in revenue, a 15.4% year‑over‑year revenue increase.

Diodes Incorporated (NASDAQ:DIOD - Get Free Report)'s stock price hit a new 52-week high during trading on Thursday . The company traded as high as $116.49 and last traded at $116.05, with a volume of 759235 shares changing hands. The stock had previously closed at $112.50.

Analysts Set New Price Targets

A number of research analysts recently commented on DIOD shares. Truist Financial raised shares of Diodes from a "hold" rating to a "buy" rating and increased their price target for the company from $67.00 to $98.00 in a report on Monday, April 13th. Benchmark raised their price objective on shares of Diodes from $62.00 to $80.00 and gave the stock a "buy" rating in a research note 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. Robert W. Baird raised their price objective on shares of Diodes from $80.00 to $100.00 and gave the stock an "outperform" rating in a research note on Tuesday, April 7th. 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. Three research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat, Diodes presently has a consensus rating of "Moderate Buy" and an average price target of $92.67.

Diodes Trading Up 3.2%

The company has a quick ratio of 2.08, a current ratio of 3.32 and a debt-to-equity ratio of 0.01. The firm has a market cap of $5.34 billion, a P/E ratio of 81.73 and a beta of 1.93. The company's 50 day simple moving average is $78.46 and its 200-day simple moving average is $62.76.

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

Insider Activity at Diodes

In other news, Director Keh Shew Lu sold 111,000 shares of the firm's stock in a transaction that occurred on Friday, February 20th. The shares were sold at an average price of $67.76, for a total transaction of $7,521,360.00. Following the transaction, the director directly owned 180,131 shares of the company's stock, valued at approximately $12,205,676.56. This trade represents a 38.13% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 1.70% of the company's stock.

Hedge Funds Weigh In On Diodes

A number of institutional investors have recently modified their holdings of the stock. Captrust Financial Advisors increased its holdings in Diodes by 3.1% during the fourth quarter. Captrust Financial Advisors now owns 4,882 shares of the semiconductor company's stock valued at $241,000 after buying an additional 145 shares during the period. Verdence Capital Advisors LLC increased its holdings in Diodes by 2.3% during the fourth quarter. Verdence Capital Advisors LLC now owns 8,430 shares of the semiconductor company's stock valued at $416,000 after buying an additional 186 shares during the period. Arizona State Retirement System increased its holdings in Diodes by 1.4% during the third quarter. Arizona State Retirement System now owns 13,720 shares of the semiconductor company's stock valued at $730,000 after buying an additional 189 shares during the period. Farther Finance Advisors LLC increased its holdings in Diodes by 51.4% during the fourth quarter. Farther Finance Advisors LLC now owns 589 shares of the semiconductor company's stock valued at $29,000 after buying an additional 200 shares during the period. Finally, Strs Ohio increased its holdings in Diodes by 2.2% during the fourth quarter. Strs Ohio now owns 9,100 shares of the semiconductor company's stock valued at $449,000 after buying an additional 200 shares during the period. 99.23% of the stock is owned by hedge funds and other institutional investors.

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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