Short Interest in Diodes Incorporated (NASDAQ:DIOD) Declines By 17.0%

Diodes Incorporated (NASDAQ:DIOD) saw 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. Currently, 5.1% of the shares of the company are sold short. Based on an average trading volume of 521,300 shares, the short-interest ratio is currently 4.4 days.

Wall Street Analysts Forecast Growth

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

Insider Activity

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

Hedge Funds Weigh In On Diodes

Several hedge funds have recently bought and sold shares of the company. Charles Schwab Investment Management Inc. boosted its holdings in Diodes by 5.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 626,106 shares of the semiconductor company’s stock valued at $40,127,000 after purchasing an additional 31,089 shares during the period. Citigroup Inc. raised its position in shares of Diodes by 54.7% in the third quarter. Citigroup Inc. now owns 64,505 shares of the semiconductor company’s stock worth $4,134,000 after buying an additional 22,817 shares in the last quarter. The Manufacturers Life Insurance Company boosted its stake in Diodes by 2.6% during the third quarter. The Manufacturers Life Insurance Company now owns 25,799 shares of the semiconductor company’s stock valued at $1,653,000 after buying an additional 649 shares during the period. BNP Paribas Financial Markets grew its position in Diodes by 114.4% during the third quarter. BNP Paribas Financial Markets now owns 48,665 shares of the semiconductor company’s stock worth $3,119,000 after buying an additional 25,969 shares in the last quarter. Finally, Walleye Capital LLC increased its stake in Diodes by 166.9% in the 3rd quarter. Walleye Capital LLC now owns 14,111 shares of the semiconductor company’s stock worth $904,000 after acquiring an additional 35,198 shares during the last quarter. Hedge funds and other institutional investors own 99.23% of the company’s stock.

Diodes Stock Performance

Shares of Diodes stock traded down $5.00 during trading hours on Thursday, reaching $38.49. The company had a trading volume of 40,823 shares, compared to its average volume of 389,263. The firm has a market cap of $1.78 billion, a PE ratio of 40.71 and a beta of 1.31. Diodes has a one year low of $38.49 and a one year high of $86.74. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.26 and a quick ratio of 1.99. The business has a fifty day simple moving average of $51.37 and a 200 day simple moving average of $58.40.

Diodes (NASDAQ:DIOD) last issued its earnings results on Tuesday, February 11th. The semiconductor company reported $0.27 EPS for the quarter, missing the consensus estimate of $0.54 by ($0.27). Diodes had a return on equity of 3.28% and a net margin of 3.36%. On average, analysts anticipate that Diodes will post 1.82 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.