Diodes (NASDAQ:DIOD) Announces Quarterly Earnings Results

Diodes (NASDAQ:DIODGet Rating) released its earnings results on Thursday. The semiconductor company reported $1.90 EPS for the quarter, beating the consensus estimate of $1.75 by $0.15, Briefing.com reports. Diodes had a net margin of 14.82% and a return on equity of 23.80%. The firm had revenue of $500.97 million for the quarter, compared to analyst estimates of $501.47 million. During the same period last year, the firm earned $1.20 EPS. The business’s quarterly revenue was up 13.7% compared to the same quarter last year. Diodes updated its Q3 2022 guidance to EPS.

Diodes Price Performance

Shares of Diodes stock traded down $1.83 during midday trading on Friday, hitting $81.68. 282,010 shares of the company traded hands, compared to its average volume of 246,015. Diodes has a 12 month low of $58.52 and a 12 month high of $113.98. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.69 and a current ratio of 2.49. The stock has a market cap of $3.70 billion, a price-to-earnings ratio of 13.03 and a beta of 1.29. The firm’s fifty day moving average price is $71.09 and its 200-day moving average price is $78.54.

Insiders Place Their Bets

In other Diodes news, CFO Brett R. Whitmire sold 600 shares of the business’s stock in a transaction that occurred on Tuesday, July 5th. The shares were sold at an average price of $60.00, for a total transaction of $36,000.00. Following the sale, the chief financial officer now directly owns 27,125 shares of the company’s stock, valued at approximately $1,627,500. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 2.60% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Covestor Ltd lifted its position in shares of Diodes by 98.2% in the 1st quarter. Covestor Ltd now owns 1,292 shares of the semiconductor company’s stock worth $112,000 after purchasing an additional 640 shares during the period. Captrust Financial Advisors lifted its position in shares of Diodes by 57.1% in the 1st quarter. Captrust Financial Advisors now owns 1,675 shares of the semiconductor company’s stock worth $146,000 after purchasing an additional 609 shares during the period. Verition Fund Management LLC acquired a new position in shares of Diodes during the 1st quarter valued at $218,000. Evergreen Capital Management LLC lifted its position in shares of Diodes by 31.0% during the 1st quarter. Evergreen Capital Management LLC now owns 3,681 shares of the semiconductor company’s stock valued at $320,000 after acquiring an additional 871 shares during the period. Finally, Sawgrass Asset Management LLC acquired a new position in shares of Diodes during the 1st quarter valued at $363,000. Institutional investors and hedge funds own 93.74% of the company’s stock.

Wall Street Analyst Weigh In

DIOD has been the topic of several recent analyst reports. Truist Financial decreased their target price on shares of Diodes from $125.00 to $97.00 in a report on Friday, April 8th. Wells Fargo & Company decreased their price target on shares of Diodes from $85.00 to $65.00 and set an “equal weight” rating on the stock in a report on Monday, July 11th.

Diodes Company Profile

(Get Rating)

Diodes Incorporated designs, manufactures, and supplies application-specific standard products in the discrete, logic, analog, and mixed-signal semiconductor markets worldwide. It focuses on low pin count semiconductor devices with one or more active or passive components. The company offers discrete semiconductor products, such as MOSFET, TVS, and performance Schottky rectifiers; GPP bridges and retifiers, and performance Schottky diodes; Zener and performance Zener diodes, including tight tolerance and low operating current type; standard, fast, super-fast, and ultra-fast recovery rectifiers; bridge rectifiers; switching diodes; small signal bipolar and prebiased transistors; thyristor surge protection devices; and transient voltage suppressors.

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Earnings History for Diodes (NASDAQ:DIOD)

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