Diodes Incorporated (NASDAQ:DIOD) Sees Significant Increase in Short Interest

Diodes Incorporated (NASDAQ:DIOD) was the target of a significant growth in short interest during the month of October. As of October 31st, there was short interest totalling 2,250,000 shares, a growth of 7.1% from the October 15th total of 2,100,000 shares. Based on an average daily volume of 319,600 shares, the days-to-cover ratio is currently 7.0 days.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on DIOD. Benchmark reduced their price target on shares of Diodes from $83.00 to $75.00 and set a “buy” rating on the stock in a research report on Monday, November 11th. Truist Financial reduced their target price on shares of Diodes from $69.00 to $62.00 and set a “hold” rating on the stock in a report on Friday, November 8th. Finally, StockNews.com upgraded Diodes from a “sell” rating to a “hold” rating in a report on Monday, November 11th. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $72.80.

Diodes Price Performance

Shares of NASDAQ DIOD traded down $0.15 during trading on Tuesday, hitting $53.69. The company had a trading volume of 20,331 shares, compared to its average volume of 344,013. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.21 and a current ratio of 3.58. Diodes has a 52 week low of $52.71 and a 52 week high of $86.74. The company has a market cap of $2.49 billion, a P/E ratio of 40.79 and a beta of 1.32. The business’s 50-day moving average is $61.77 and its 200 day moving average is $68.56.

Insider Transactions at Diodes

In other Diodes news, SVP Emily Yang sold 1,000 shares of the business’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $70.48, for a total transaction of $70,480.00. Following the completion of the sale, the senior vice president now owns 59,820 shares of the company’s stock, valued at approximately $4,216,113.60. The trade was a 1.64 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Brett R. Whitmire sold 1,900 shares of the firm’s stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $69.99, for a total value of $132,981.00. Following the completion of the transaction, the chief financial officer now owns 46,365 shares in the company, valued at approximately $3,245,086.35. This trade represents a 3.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 4,172 shares of company stock worth $295,249 over the last quarter. 2.30% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Diodes

Hedge funds have recently made changes to their positions in the business. Truvestments Capital LLC bought a new position in Diodes in the 3rd quarter valued at $29,000. GAMMA Investing LLC increased its stake in shares of Diodes by 66.5% in the 2nd quarter. GAMMA Investing LLC now owns 453 shares of the semiconductor company’s stock valued at $33,000 after acquiring an additional 181 shares during the last quarter. EntryPoint Capital LLC bought a new position in shares of Diodes during the first quarter worth $40,000. Innealta Capital LLC bought a new stake in shares of Diodes in the second quarter worth about $88,000. Finally, KBC Group NV raised its holdings in Diodes by 33.9% during the 3rd quarter. KBC Group NV now owns 1,454 shares of the semiconductor company’s stock worth $93,000 after buying an additional 368 shares during the period. 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.