Diodes Incorporated (NASDAQ:DIOD) Sees Large Increase in Short Interest

Diodes Incorporated (NASDAQ:DIOD - Get Free Report) was the target of a significant growth in short interest in April. As of April 15th, there was short interest totalling 1,550,000 shares, a growth of 5.4% from the March 31st total of 1,470,000 shares. Approximately 3.5% of the shares of the stock are sold short. Based on an average daily trading volume, of 330,600 shares, the days-to-cover ratio is presently 4.7 days.

Diodes Trading Down 2.8 %

Shares of Diodes stock traded down $2.02 during trading hours on Wednesday, hitting $70.99. The company's stock had a trading volume of 343,786 shares, compared to its average volume of 344,390. Diodes has a twelve month low of $60.00 and a twelve month high of $97.37. The firm has a fifty day moving average of $68.94 and a 200-day moving average of $70.51. The stock has a market cap of $3.28 billion, a price-to-earnings ratio of 14.46 and a beta of 1.46. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.03 and a current ratio of 3.02.

Diodes (NASDAQ:DIOD - Get Free Report) last posted its quarterly earnings data on Tuesday, February 6th. The semiconductor company reported $0.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.47 by $0.04. The firm had revenue of $322.70 million for the quarter, compared to the consensus estimate of $324.76 million. Diodes had a return on equity of 12.79% and a net margin of 13.67%. The company's quarterly revenue was down 35.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.73 EPS. Research analysts forecast that Diodes will post 2.55 EPS for the current year.

Analyst Ratings Changes

DIOD has been the topic of a number of recent research reports. Wells Fargo & Company lowered their price objective on Diodes from $80.00 to $70.00 and set an "equal weight" rating on the stock in a research note on Wednesday, February 7th. Truist Financial decreased their price target on Diodes from $78.00 to $67.00 and set a "hold" rating on the stock in a research note on Wednesday, February 7th. Finally, TD Cowen upped their price target on Diodes from $72.00 to $85.00 and gave the company an "outperform" rating in a research note on Wednesday, February 7th. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $72.40.

Insider Activity

In other news, CEO Keh Shew Lu sold 12,000 shares of Diodes stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $68.78, for a total value of $825,360.00. Following the sale, the chief executive officer now directly owns 262,492 shares of the company's stock, valued at $18,054,199.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Diodes news, CEO Keh Shew Lu sold 12,000 shares of the business's stock in a transaction on Monday, February 26th. The stock was sold at an average price of $68.78, for a total transaction of $825,360.00. Following the transaction, the chief executive officer now owns 262,492 shares of the company's stock, valued at $18,054,199.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Brett R. Whitmire sold 3,400 shares of the business's stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $67.30, for a total value of $228,820.00. Following the transaction, the chief financial officer now directly owns 48,265 shares in the company, valued at approximately $3,248,234.50. The disclosure for this sale can be found here. Insiders sold 25,900 shares of company stock worth $1,774,570 over the last three months. 2.20% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Diodes

Institutional investors and hedge funds have recently modified their holdings of the company. GAMMA Investing LLC purchased a new stake in shares of Diodes in the 4th quarter valued at $30,000. Riverview Trust Co purchased a new stake in Diodes during the 1st quarter worth about $51,000. NBC Securities Inc. purchased a new stake in Diodes during the 3rd quarter worth about $59,000. Principal Securities Inc. purchased a new stake in Diodes during the 4th quarter worth about $74,000. Finally, Migdal Insurance & Financial Holdings Ltd. increased its holdings in Diodes by 17.5% during the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,184 shares of the semiconductor company's stock worth $93,000 after purchasing an additional 176 shares during the period. Hedge funds and other institutional investors own 99.23% of the company's stock.

Diodes Company Profile

Diodes Incorporated, together with its subsidiaries, manufactures and supplies application-specific standard products in the broad discrete, logic, analog, and mixed-signal semiconductor markets worldwide. The company offers discrete semiconductor products, such as MOSFETs, SiC MOSFETs; data line protection, power line protection, thyristers, USB Type-C protection, and transient voltage suppressors; Schottky, small signal switching, Zener, and SiC diodes; bridges, super barrier, Schottky, Schottky bridge, and fast/ultra-fast rectifiers; and bipolar, avalanche, gate driver, and pre-bias transistors.