Diodes (NASDAQ:DIOD) Shares Cross Above 200 Day Moving Average – Here’s What Happened

Diodes Incorporated (NASDAQ:DIOD)’s share price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $52.26 and traded as high as $59.56. Diodes shares last traded at $59.04, with a volume of 251,669 shares changing hands.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on DIOD. Wall Street Zen downgraded shares of Diodes from a “buy” rating to a “hold” rating in a research note on Saturday, November 8th. Truist Financial lifted their price objective on Diodes from $51.00 to $54.00 and gave the stock a “hold” rating in a report on Friday, December 19th. Zacks Research upgraded Diodes from a “strong sell” rating to a “hold” rating in a report on Monday, January 5th. Finally, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Diodes in a research note on Monday, December 29th. Two equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Diodes has an average rating of “Hold” and a consensus price target of $55.33.

Diodes Trading Up 4.8%

The company has a quick ratio of 2.09, a current ratio of 3.32 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $2.74 billion, a PE ratio of 42.78 and a beta of 1.65. The stock’s fifty day moving average price is $50.39 and its two-hundred day moving average price is $52.26.

Diodes (NASDAQ:DIOD) last released its quarterly earnings results on Thursday, November 6th. The semiconductor company reported $0.37 EPS for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.01). Diodes had a net margin of 4.49% and a return on equity of 2.81%. The business had revenue of $392.17 million for the quarter, compared to the consensus estimate of $392.17 million. During the same period in the previous year, the company earned $0.43 EPS. The company’s revenue for the quarter was up 12.0% on a year-over-year basis. Sell-side analysts anticipate that Diodes Incorporated will post 1.82 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Keh Shew Lu sold 6,000 shares of the firm’s stock in a transaction on Wednesday, November 12th. The stock was sold at an average price of $47.42, for a total value of $284,520.00. Following the completion of the sale, the director owned 244,397 shares of the company’s stock, valued at $11,589,305.74. This trade represents a 2.40% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 1.90% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in DIOD. Salomon & Ludwin LLC bought a new stake in shares of Diodes during the 3rd quarter valued at about $25,000. EverSource Wealth Advisors LLC lifted its holdings in Diodes by 77.4% in the second quarter. EverSource Wealth Advisors LLC now owns 470 shares of the semiconductor company’s stock worth $25,000 after buying an additional 205 shares during the period. Geneos Wealth Management Inc. bought a new stake in Diodes during the 2nd quarter valued at approximately $30,000. Fifth Third Bancorp grew its holdings in shares of Diodes by 85.8% during the 2nd quarter. Fifth Third Bancorp now owns 628 shares of the semiconductor company’s stock worth $33,000 after acquiring an additional 290 shares during the period. Finally, MAI Capital Management raised its position in shares of Diodes by 150.0% in the 3rd quarter. MAI Capital Management now owns 685 shares of the semiconductor company’s stock worth $36,000 after acquiring an additional 411 shares in the last quarter. 99.23% of the stock is currently owned by institutional investors.

Diodes Company Profile

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.