Diodes Incorporated (NASDAQ:DIOD) Sees Significant Decline in Short Interest

Diodes Incorporated (NASDAQ:DIOD) was the target of a large decrease in short interest in September. As of September 30th, there was short interest totalling 2,110,000 shares, a decrease of 7.5% from the September 15th total of 2,280,000 shares. Based on an average trading volume of 396,400 shares, the days-to-cover ratio is currently 5.3 days.

Insider Transactions at Diodes

In related news, CFO Brett R. Whitmire sold 1,900 shares of the business’s stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $69.99, for a total value of $132,981.00. Following the completion of the sale, the chief financial officer now owns 46,365 shares of the company’s stock, valued at approximately $3,245,086.35. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, SVP Emily Yang sold 1,272 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $72.16, for a total value of $91,787.52. Following the sale, the senior vice president now directly owns 29,028 shares of the company’s stock, valued at approximately $2,094,660.48. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Brett R. Whitmire sold 1,900 shares of the company’s stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $69.99, for a total value of $132,981.00. Following the transaction, the chief financial officer now owns 46,365 shares in the company, valued at $3,245,086.35. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 24,182 shares of company stock valued at $1,640,921 in the last ninety days. 2.30% of the stock is currently owned by corporate insiders.

Institutional Trading of Diodes

A number of institutional investors have recently made changes to their positions in DIOD. GAMMA Investing LLC increased its stake in Diodes by 66.5% in the 2nd quarter. GAMMA Investing LLC now owns 453 shares of the semiconductor company’s stock worth $33,000 after purchasing an additional 181 shares in the last quarter. SummerHaven Investment Management LLC grew its position in Diodes by 2.7% during the second quarter. SummerHaven Investment Management LLC now owns 8,101 shares of the semiconductor company’s stock worth $583,000 after buying an additional 210 shares in the last quarter. O Shaughnessy Asset Management LLC increased its holdings in Diodes by 5.6% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 4,245 shares of the semiconductor company’s stock valued at $299,000 after buying an additional 224 shares during the period. Arizona State Retirement System raised its position in Diodes by 1.9% in the second quarter. Arizona State Retirement System now owns 12,861 shares of the semiconductor company’s stock worth $925,000 after purchasing an additional 236 shares in the last quarter. Finally, Azzad Asset Management Inc. ADV lifted its holdings in shares of Diodes by 2.5% during the second quarter. Azzad Asset Management Inc. ADV now owns 10,115 shares of the semiconductor company’s stock valued at $728,000 after acquiring an additional 250 shares during the period. 99.23% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. StockNews.com cut shares of Diodes from a “hold” rating to a “sell” rating in a report on Wednesday, August 21st. Truist Financial dropped their price target on Diodes from $74.00 to $69.00 and set a “hold” rating on the stock in a research note on Friday, August 9th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Diodes currently has an average rating of “Hold” and an average price target of $73.20.

Diodes Price Performance

Diodes stock traded up $0.55 during mid-day trading on Thursday, hitting $64.94. 213,954 shares of the company were exchanged, compared to its average volume of 348,980. The company has a market capitalization of $2.99 billion, a P/E ratio of 17.69 and a beta of 1.32. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.38 and a quick ratio of 2.10. Diodes has a 12-month low of $58.50 and a 12-month high of $86.74. The business’s 50 day simple moving average is $63.97 and its two-hundred day simple moving average is $69.96.

Diodes (NASDAQ:DIOD) last released its quarterly earnings results on Thursday, August 8th. The semiconductor company reported $0.33 earnings per share for the quarter, topping analysts’ consensus estimates of $0.30 by $0.03. The firm had revenue of $319.80 million during the quarter, compared to analysts’ expectations of $316.12 million. Diodes had a return on equity of 5.76% and a net margin of 7.12%. Diodes’s quarterly revenue was down 31.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.59 EPS. Analysts forecast that Diodes will post 1.55 earnings per share for the current fiscal year.

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.