Diodes Incorporated (NASDAQ:DIOD) Short Interest Up 6.2% in November

Diodes Incorporated (NASDAQ:DIOD) saw a significant increase in short interest in November. As of November 15th, there was short interest totalling 2,390,000 shares, an increase of 6.2% from the October 31st total of 2,250,000 shares. Based on an average daily trading volume, of 335,800 shares, the days-to-cover ratio is presently 7.1 days.

Analyst Upgrades and Downgrades

DIOD has been the topic of a number of analyst reports. Benchmark cut 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 lowered their price target on Diodes from $69.00 to $62.00 and set a “hold” rating on the stock in a research report on Friday, November 8th. Finally, StockNews.com raised Diodes from a “sell” rating to a “hold” rating in a research report on Monday, November 11th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $72.80.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in DIOD. Victory Capital Management Inc. boosted its holdings in Diodes by 130.9% in the third quarter. Victory Capital Management Inc. now owns 1,744,135 shares of the semiconductor company’s stock valued at $111,782,000 after acquiring an additional 988,671 shares in the last quarter. FMR LLC lifted its position in shares of Diodes by 19.6% in the third quarter. FMR LLC now owns 5,785,134 shares of the semiconductor company’s stock valued at $370,769,000 after acquiring an additional 947,118 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in Diodes by 8.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,913,282 shares of the semiconductor company’s stock valued at $137,620,000 after buying an additional 141,610 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Diodes by 27.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 604,153 shares of the semiconductor company’s stock worth $43,457,000 after purchasing an additional 129,195 shares during the period. Finally, Cinctive Capital Management LP purchased a new position in shares of Diodes during the third quarter valued at approximately $7,791,000. 99.23% of the stock is currently owned by hedge funds and other institutional investors.

Diodes Stock Up 1.6 %

Diodes stock traded up $1.01 during midday trading on Tuesday, reaching $66.01. The stock had a trading volume of 383,367 shares, compared to its average volume of 384,771. Diodes has a 12 month low of $52.71 and a 12 month high of $86.74. The company has a fifty day moving average price of $62.12 and a two-hundred day moving average price of $67.80. The company has a current ratio of 3.58, a quick ratio of 2.21 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $3.06 billion, a P/E ratio of 50.01 and a beta of 1.34.

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.