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Diodes Incorporated (NASDAQ:DIOD) Short Interest Up 10.9% in September

kopsource · Oct 3, 2022 11:01

Diodes Incorporated (NASDAQ:DIOD – Get Rating) was the recipient of a significant increase in short interest in September. As of September 15th, there was short interest totalling 1,430,000 shares, an increase of 10.9% from the August 31st total of 1,290,000 shares. Based on an average daily volume of 223,200 shares, the days-to-cover ratio is presently 6.4 days. Approximately 3.3% of the company's stock are sold short.

Insider Buying and Selling at Diodes

In other Diodes news, CEO Keh Shew Lu sold 3,000 shares of the firm's stock in a transaction that occurred on Tuesday, August 16th. The stock was sold at an average price of $83.11, for a total value of $249,330.00. Following the completion of the transaction, the chief executive officer now directly owns 75,183 shares in the company, valued at $6,248,459.13. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, CEO Keh Shew Lu sold 3,000 shares of the firm's stock in a transaction that occurred on Tuesday, August 16th. The stock was sold at an average price of $83.11, for a total value of $249,330.00. Following the completion of the sale, the chief executive officer now directly owns 75,183 shares of the company's stock, valued at $6,248,459.13. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Brett R. Whitmire sold 600 shares of the firm'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 value of $36,000.00. Following the completion of the sale, the chief financial officer now directly owns 27,125 shares of the company's stock, valued at $1,627,500. The disclosure for this sale can be found here. Corporate insiders own 2.60% of the company's stock.

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Hedge Funds Weigh In On Diodes

Several hedge funds and other institutional investors have recently modified their holdings of the business. JPMorgan Chase & Co. grew its position in Diodes by 41.8% during the 4th quarter. JPMorgan Chase & Co. now owns 95,806 shares of the semiconductor company's stock worth $10,520,000 after acquiring an additional 28,224 shares during the last quarter. Rockefeller Capital Management L.P. grew its position in shares of Diodes by 30.2% in the 4th quarter. Rockefeller Capital Management L.P. now owns 1,989 shares of the semiconductor company's stock valued at $218,000 after buying an additional 461 shares during the last quarter. State Street Corp lifted its stake in shares of Diodes by 6.1% in the 4th quarter. State Street Corp now owns 1,792,968 shares of the semiconductor company's stock valued at $196,886,000 after purchasing an additional 103,622 shares during the period. PDT Partners LLC acquired a new position in shares of Diodes in the 4th quarter valued at about $406,000. Finally, Cubist Systematic Strategies LLC lifted its stake in shares of Diodes by 164.3% in the 4th quarter. Cubist Systematic Strategies LLC now owns 69,046 shares of the semiconductor company's stock valued at $7,582,000 after purchasing an additional 42,917 shares during the period. Institutional investors own 95.57% of the company's stock.

Diodes Stock Performance

NASDAQ:DIOD traded up $2.66 during mid-day trading on Monday, hitting $67.57. 1,231 shares of the stock were exchanged, compared to its average volume of 280,543. The stock has a market capitalization of $3.07 billion, a price-to-earnings ratio of 10.66 and a beta of 1.30. The firm's 50-day simple moving average is $73.72 and its 200 day simple moving average is $73.88. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.69 and a current ratio of 2.43. Diodes has a fifty-two week low of $58.52 and a fifty-two week high of $113.98.

Diodes (NASDAQ:DIOD – Get Rating) last announced its quarterly earnings data on Thursday, August 4th. The semiconductor company reported $1.90 earnings per share for the quarter, beating the consensus estimate of $1.75 by $0.15. Diodes had a return on equity of 23.24% and a net margin of 14.82%. The firm had revenue of $500.97 million during the quarter, compared to analysts' expectations of $501.47 million. During the same period in the previous year, the firm earned $1.20 EPS. The company's quarterly revenue was up 13.7% compared to the same quarter last year. As a group, equities analysts anticipate that Diodes will post 7.15 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on DIOD shares. StockNews.com raised Diodes from a "hold" rating to a "buy" rating in a research report on Thursday. Cowen raised their price objective on Diodes to $95.00 in a research report on Tuesday, August 9th. Finally, Wells Fargo & Company dropped their price target on Diodes from $85.00 to $65.00 and set an "equal weight" rating for the company in a report on Monday, July 11th.

Diodes Company Profile

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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.