Diodes (NASDAQ:DIOD) Posts Quarterly Earnings Results, Beats Estimates By $0.08 EPS

Diodes (NASDAQ:DIOD) posted its quarterly earnings results on Tuesday. The semiconductor company reported $0.34 EPS for the quarter, beating analysts’ consensus estimates of $0.26 by $0.08, Zacks reports. Diodes had a net margin of 4.49% and a return on equity of 2.81%. The company had revenue of $391.58 million during the quarter, compared to analyst estimates of $380.03 million.

Diodes Stock Up 1.0%

Shares of Diodes stock traded up $0.59 during midday trading on Tuesday, hitting $61.70. The company had a trading volume of 298,163 shares, compared to its average volume of 306,054. Diodes has a 52-week low of $32.93 and a 52-week high of $62.67. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.09 and a current ratio of 3.32. The stock has a market capitalization of $2.86 billion, a P/E ratio of 44.71 and a beta of 1.66. The company has a 50 day moving average of $54.13 and a 200 day moving average of $52.60.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Wall Street Zen cut Diodes from a “buy” rating to a “hold” rating in a research note on Saturday, November 8th. Zacks Research raised shares of Diodes from a “strong sell” rating to a “hold” rating in a research report on Monday, January 5th. Weiss Ratings raised shares of Diodes from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, January 21st. Finally, Truist Financial lifted their target price on shares of Diodes from $51.00 to $54.00 and gave the company a “hold” rating in a research note on Friday, December 19th. Two equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, Diodes has a consensus rating of “Hold” and an average price target of $55.33.

Insiders Place Their Bets

In other news, SVP Emily Yang sold 950 shares of the stock in a transaction 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 sale, the senior vice president directly owned 74,032 shares of the company’s stock, valued at approximately $4,504,847.20. This represents a 1.27% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Gary Yu sold 2,900 shares of the firm’s stock in a transaction on Tuesday, February 3rd. The shares were sold at an average price of $60.85, for a total value of $176,465.00. Following the transaction, the chief executive officer owned 111,671 shares of the company’s stock, valued at $6,795,180.35. The trade was a 2.53% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 11,205 shares of company stock valued at $600,373. Company insiders own 2.30% of the company’s stock.

Institutional Trading of Diodes

Large investors have recently made changes to their positions in the stock. EverSource Wealth Advisors LLC raised its stake in Diodes by 77.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 470 shares of the semiconductor company’s stock valued at $25,000 after purchasing an additional 205 shares during the period. Geneos Wealth Management Inc. purchased a new stake in Diodes during the 2nd quarter valued at approximately $30,000. Quarry LP bought a new stake in shares of Diodes during the third quarter valued at approximately $39,000. Global Retirement Partners LLC lifted its holdings in shares of Diodes by 563.1% in the fourth quarter. Global Retirement Partners LLC now owns 809 shares of the semiconductor company’s stock worth $40,000 after buying an additional 687 shares in the last quarter. Finally, CIBC Private Wealth Group LLC lifted its holdings in shares of Diodes by 92,000.0% in the third quarter. CIBC Private Wealth Group LLC now owns 1,842 shares of the semiconductor company’s stock worth $98,000 after buying an additional 1,840 shares in the last quarter. 99.23% of the stock is currently owned by 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.