Diodes (NASDAQ:DIOD) Stock Price Crosses Above 200 Day Moving Average – What’s Next?

Diodes Incorporated (NASDAQ:DIOD) passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $55.03 and traded as high as $63.95. Diodes shares last traded at $63.01, with a volume of 500,797 shares.

Analysts Set New Price Targets

DIOD has been the topic of several recent research reports. Zacks Research downgraded Diodes from a “hold” rating to a “strong sell” rating in a research note on Wednesday, February 11th. Truist Financial upped their price objective on Diodes from $54.00 to $67.00 and gave the stock a “hold” rating in a research report on Wednesday, February 11th. Benchmark increased their price objective on Diodes from $62.00 to $80.00 and gave the stock a “buy” rating in a report on Wednesday, February 11th. Weiss Ratings raised Diodes from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, January 21st. Finally, Wall Street Zen upgraded Diodes from a “hold” rating to a “buy” rating in a research note on Saturday, February 14th. Two analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Diodes presently has a consensus rating of “Hold” and a consensus target price of $65.67.

Diodes Stock Up 1.1%

The firm’s 50 day simple moving average is $61.37 and its 200-day simple moving average is $55.03. The company has a current ratio of 3.32, a quick ratio of 2.08 and a debt-to-equity ratio of 0.01. The stock has a market capitalization of $2.89 billion, a price-to-earnings ratio of 44.37 and a beta of 1.61.

Diodes (NASDAQ:DIOD) last posted its quarterly earnings data 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 company had revenue of $391.58 million during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period in the prior year, the business posted $0.27 EPS. Equities analysts expect that Diodes Incorporated will post 1.82 earnings per share for the current fiscal year.

Insider Activity

In other Diodes news, SVP Emily Yang sold 950 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 $57,807.50. Following the completion of the transaction, the senior vice president directly owned 74,032 shares in the company, valued at $4,504,847.20. This trade represents a 1.27% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Keh Shew Lu sold 111,000 shares of the business’s stock in a transaction that occurred on 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 in the company, valued at $12,205,676.56. This trade represents a 38.13% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 116,205 shares of company stock valued at $7,837,213. Corporate insiders own 2.30% of the company’s stock.

Hedge Funds Weigh In On Diodes

A number of institutional investors have recently added to or reduced their stakes in the company. AQR Capital Management LLC lifted its stake in Diodes by 12.4% in the first quarter. AQR Capital Management LLC now owns 6,028 shares of the semiconductor company’s stock valued at $260,000 after acquiring an additional 663 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Diodes by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 27,148 shares of the semiconductor company’s stock worth $1,172,000 after purchasing an additional 1,186 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of Diodes by 13.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 391,005 shares of the semiconductor company’s stock valued at $16,880,000 after purchasing an additional 47,500 shares during the period. Woodline Partners LP bought a new stake in shares of Diodes in the 1st quarter valued at about $559,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in Diodes by 6.8% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 104,719 shares of the semiconductor company’s stock valued at $4,521,000 after purchasing an additional 6,708 shares during the last quarter. 99.23% of the stock is currently owned by institutional investors and hedge funds.

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.