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

Diodes Incorporated (NASDAQ:DIOD) saw a significant growth in short interest in 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 trading volume of 319,600 shares, the short-interest ratio is presently 7.0 days.

Insiders Place Their Bets

In other news, SVP Emily Yang sold 1,000 shares of Diodes stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $70.48, for a total transaction of $70,480.00. Following the sale, the senior vice president now owns 59,820 shares of the company’s stock, valued at approximately $4,216,113.60. This trade represents a 1.64 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Brett R. Whitmire sold 1,900 shares of Diodes stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $69.99, for a total transaction of $132,981.00. Following the sale, the chief financial officer now owns 46,365 shares in the company, valued at $3,245,086.35. This represents a 3.94 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 4,172 shares of company stock valued at $295,249 over the last ninety days. Corporate insiders own 2.30% of the company’s stock.

Institutional Investors Weigh In On Diodes

A number of hedge funds have recently made changes to their positions in the stock. Janney Montgomery Scott LLC lifted its position in shares of Diodes by 77.0% in the 1st quarter. Janney Montgomery Scott LLC now owns 8,227 shares of the semiconductor company’s stock worth $580,000 after purchasing an additional 3,580 shares during the period. SG Americas Securities LLC bought a new position in shares of Diodes in the first quarter valued at approximately $183,000. ProShare Advisors LLC boosted its holdings in Diodes by 7.4% during the 1st quarter. ProShare Advisors LLC now owns 9,126 shares of the semiconductor company’s stock worth $643,000 after acquiring an additional 627 shares during the last quarter. State Board of Administration of Florida Retirement System grew its position in Diodes by 30.8% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 16,875 shares of the semiconductor company’s stock worth $1,190,000 after purchasing an additional 3,972 shares in the last quarter. Finally, Vanguard Group Inc. grew its holdings in shares of Diodes by 2.3% in the first quarter. Vanguard Group Inc. now owns 5,782,828 shares of the semiconductor company’s stock valued at $407,689,000 after acquiring an additional 132,101 shares in the last quarter. 99.23% of the stock is currently owned by institutional investors and hedge funds.

Diodes Stock Performance

Shares of DIOD traded up $0.44 during mid-day trading on Tuesday, hitting $54.28. 31,375 shares of the company’s stock were exchanged, compared to its average volume of 344,062. The company has a quick ratio of 2.21, a current ratio of 3.58 and a debt-to-equity ratio of 0.01. Diodes has a 52 week low of $52.71 and a 52 week high of $86.74. The stock’s 50-day simple moving average is $61.77 and its 200-day simple moving average is $68.56. The firm has a market cap of $2.51 billion, a price-to-earnings ratio of 40.79 and a beta of 1.32.

Analyst Ratings Changes

A number of research firms recently weighed in on DIOD. Truist Financial dropped their price target on Diodes from $69.00 to $62.00 and set a “hold” rating for the company in a report on Friday, November 8th. Benchmark lowered their price target on shares of Diodes from $83.00 to $75.00 and set a “buy” rating for the company in a report on Monday, November 11th. Finally, StockNews.com upgraded Diodes from a “sell” rating to a “hold” rating in a research report on Monday, November 11th. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $72.80.

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.