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

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

Diodes Trading Down 1.5 %

Shares of Diodes stock traded down $0.67 during trading hours on Tuesday, hitting $42.51. The company’s stock had a trading volume of 10,079 shares, compared to its average volume of 388,836. The stock has a market cap of $1.97 billion, a price-to-earnings ratio of 44.61 and a beta of 1.31. Diodes has a twelve month low of $41.80 and a twelve month high of $86.74. The firm has a fifty day moving average of $52.16 and a 200-day moving average of $58.64. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.99 and a current ratio of 3.26.

Diodes (NASDAQ:DIOD) last released its quarterly earnings results 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%. Research analysts forecast that Diodes will post 1.82 EPS for the current year.

Analysts Set New Price Targets

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

Insider Buying and Selling at Diodes

In related news, CFO Brett R. Whitmire sold 830 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 value of $46,513.20. Following the transaction, 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 position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, President Gary Yu sold 2,900 shares of the firm’s stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $56.04, for a total transaction of $162,516.00. Following the completion of the transaction, the president now directly owns 79,697 shares in the company, 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 ninety days, insiders sold 4,680 shares of company stock valued at $262,267. 2.30% of the stock is owned by company insiders.

Hedge Funds Weigh In On Diodes

Several hedge funds have recently bought and sold shares of the company. Smartleaf Asset Management LLC increased its stake in Diodes by 198.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 785 shares of the semiconductor company’s stock worth $48,000 after purchasing an additional 522 shares during the period. Quantbot Technologies LP purchased a new stake in Diodes during the 4th quarter worth approximately $79,000. Sterling Capital Management LLC lifted its holdings in Diodes by 789.7% during 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 raised its position in Diodes by 36.7% in the 4th quarter. KBC Group NV now owns 1,987 shares of the semiconductor company’s stock valued at $123,000 after purchasing an additional 533 shares in the last quarter. Finally, Xponance Inc. acquired a new position in Diodes during the fourth quarter worth approximately $203,000. Institutional investors and hedge funds own 99.23% of the company’s stock.

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.