Diodes (NASDAQ:DIOD) Announces Earnings Results

Diodes (NASDAQ:DIOD) posted its quarterly earnings results on Thursday. The semiconductor company reported $0.33 EPS for the quarter, topping analysts’ consensus estimates of $0.30 by $0.03, Briefing.com reports. The firm had revenue of $319.80 million during the quarter, compared to analyst estimates of $316.12 million. Diodes had a return on equity of 9.11% and a net margin of 11.36%. The business’s revenue for the quarter was down 31.5% on a year-over-year basis. During the same period last year, the company earned $1.59 earnings per share. Diodes updated its Q3 2024 guidance to EPS.

Diodes Trading Up 7.5 %

Shares of Diodes stock opened at $64.68 on Monday. The company has a 50 day simple moving average of $74.35 and a two-hundred day simple moving average of $71.41. The firm has a market cap of $2.98 billion, a PE ratio of 17.62 and a beta of 1.35. Diodes has a 1 year low of $58.96 and a 1 year high of $86.74. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.18 and a quick ratio of 2.05.

Insider Activity

In other Diodes news, CEO Keh Shew Lu sold 15,000 shares of Diodes stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $75.30, for a total transaction of $1,129,500.00. Following the completion of the sale, the chief executive officer now owns 87,331 shares of the company’s stock, valued at $6,576,024.30. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CEO Keh Shew Lu sold 15,000 shares of the firm’s stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $75.30, for a total transaction of $1,129,500.00. Following the transaction, the chief executive officer now directly owns 87,331 shares of the company’s stock, valued at approximately $6,576,024.30. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Peter M. Menard sold 630 shares of the company’s stock in a transaction that occurred on Wednesday, May 29th. The stock was sold at an average price of $71.96, for a total value of $45,334.80. Following the completion of the sale, the director now directly owns 18,050 shares of the company’s stock, valued at approximately $1,298,878. The disclosure for this sale can be found here. In the last quarter, insiders have sold 30,630 shares of company stock worth $2,272,715. 2.30% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages have recently weighed in on DIOD. Truist Financial decreased their price target on Diodes from $74.00 to $69.00 and set a “hold” rating on the stock in a research report on Friday. Robert W. Baird increased their target price on shares of Diodes from $56.00 to $72.00 and gave the stock a “neutral” rating in a research note on Friday, May 10th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $73.20.

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.