Diodes Incorporated (NASDAQ:DIOD) Short Interest Down 17.0% in March

Diodes Incorporated (NASDAQ:DIOD) was the target of a significant decrease in short interest in March. As of March 15th, there was short interest totalling 2,290,000 shares, a decrease of 17.0% from the February 28th total of 2,760,000 shares. Based on an average daily trading volume, of 521,300 shares, the days-to-cover ratio is presently 4.4 days. Currently, 5.1% of the company’s stock are sold short.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on DIOD. Benchmark decreased their target price on shares of Diodes from $74.00 to $65.00 and set a “buy” rating on the stock in a report on Wednesday, February 12th. Truist Financial cut their price objective on Diodes from $63.00 to $53.00 and set a “hold” rating for the company in a report on Wednesday, February 12th.

Insider Buying and Selling

In related news, CFO Brett R. Whitmire sold 830 shares of the stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $56.04, for a total transaction of $46,513.20. Following the completion of the sale, the chief financial officer now directly owns 51,525 shares of the company’s stock, valued at approximately $2,887,461. This trade represents a 1.59 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, President Gary Yu sold 2,900 shares of the firm’s stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $56.04, for a total value of $162,516.00. Following the sale, the president now directly owns 79,697 shares of the company’s stock, valued at approximately $4,466,219.88. This represents a 3.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 4,680 shares of company stock worth $262,267. 2.30% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Diodes

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Smartleaf Asset Management LLC grew its stake in shares of Diodes by 198.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 785 shares of the semiconductor company’s stock worth $48,000 after buying an additional 522 shares during the last quarter. Quantbot Technologies LP bought a new position in shares of Diodes during the fourth quarter valued at $79,000. Sterling Capital Management LLC increased its holdings in Diodes by 789.7% in the 4th quarter. Sterling Capital Management LLC now owns 1,290 shares of the semiconductor company’s stock worth $80,000 after buying an additional 1,145 shares in the last quarter. KBC Group NV lifted its stake in Diodes by 36.7% during the 4th quarter. KBC Group NV now owns 1,987 shares of the semiconductor company’s stock valued at $123,000 after acquiring an additional 533 shares during the period. Finally, Xponance Inc. purchased a new stake in Diodes during the fourth quarter valued at approximately $203,000. Hedge funds and other institutional investors own 99.23% of the company’s stock.

Diodes Trading Up 0.5 %

DIOD stock traded up $0.21 during trading on Wednesday, hitting $43.29. 81,590 shares of the company traded hands, compared to its average volume of 389,204. Diodes has a 1 year low of $41.80 and a 1 year high of $86.74. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.99 and a current ratio of 3.26. The company has a 50-day moving average of $51.76 and a 200-day moving average of $58.51. The firm has a market capitalization of $2.01 billion, a PE ratio of 45.57 and a beta of 1.31.

Diodes (NASDAQ:DIOD) last issued its quarterly earnings data on Tuesday, February 11th. The semiconductor company reported $0.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.27). Diodes had a net margin of 3.36% and a return on equity of 3.28%. Analysts predict that Diodes will post 1.82 earnings per share for the current fiscal year.

About Diodes

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.