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

Diodes Incorporated (NASDAQ:DIOD) was the recipient of a large 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. Approximately 5.1% of the company’s shares are short sold.

Diodes Price Performance

Shares of Diodes stock traded up $0.21 during midday 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 12 month low of $41.80 and a 12 month 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 stock has a market cap of $2.01 billion, a price-to-earnings ratio of 45.57 and a beta of 1.31. The firm’s fifty day moving average price is $51.76 and its 200-day moving average price is $58.51.

Diodes (NASDAQ:DIOD) last announced its quarterly earnings results on Tuesday, February 11th. The semiconductor company reported $0.27 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%. As a group, sell-side analysts forecast that Diodes will post 1.82 earnings per share for the current year.

Wall Street Analyst Weigh In

DIOD has been the subject of several research analyst reports. Benchmark reduced their target price on shares of Diodes from $74.00 to $65.00 and set a “buy” rating for the company in a report on Wednesday, February 12th. Truist Financial decreased their target price on Diodes from $63.00 to $53.00 and set a “hold” rating on the stock in a research report on Wednesday, February 12th.

Insiders Place Their Bets

In other news, CFO Brett R. Whitmire sold 830 shares of the company’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 $46,513.20. Following the completion of the transaction, the chief financial officer now directly owns 51,525 shares of the company’s stock, valued at $2,887,461. This represents a 1.59 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Emily Yang sold 950 shares of Diodes stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $56.04, for a total value of $53,238.00. Following the completion of the sale, the senior vice president now directly owns 65,107 shares in the company, valued at approximately $3,648,596.28. This represents a 1.44 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 4,680 shares of company stock valued at $262,267. 2.30% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Diodes

Several hedge funds and other institutional investors have recently bought and sold shares of DIOD. Smartleaf Asset Management LLC raised its position 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 acquiring an additional 522 shares in the last quarter. Quantbot Technologies LP acquired a new position in Diodes during the fourth quarter worth $79,000. Sterling Capital Management LLC lifted its stake in shares of Diodes by 789.7% in the fourth quarter. Sterling Capital Management LLC now owns 1,290 shares of the semiconductor company’s stock valued at $80,000 after buying an additional 1,145 shares in the last quarter. KBC Group NV grew its holdings in shares of Diodes by 36.7% during the fourth quarter. KBC Group NV now owns 1,987 shares of the semiconductor company’s stock valued at $123,000 after buying an additional 533 shares during the last quarter. Finally, Xponance Inc. bought a new stake in shares of Diodes during the fourth quarter worth about $203,000. Institutional investors and hedge funds own 99.23% of the company’s stock.

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.