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

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

Insider buying and selling at Diodes

In other Diodes news, CEO Keh Shew Lu sold 3,000 shares of the company in a deal that took place on Tuesday, August 16. The stock was sold at an average price of $83.11, for a total value of $249,330.00. Following completion of the transaction, the CEO now directly owns 75,183 shares of the company, valued at $6,248,459.13. The transaction was disclosed in a filing with the SEC, accessible via the SEC’s website. Separately, CEO Keh Shew Lu sold 3,000 shares of the company in a deal that took place on Tuesday, August 16. 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 CEO now directly owns 75,183 shares of the company, valued at $6,248,459.13. The transaction was disclosed in a legal filing with the SEC, accessible via this link. Additionally, Chief Financial Officer Brett R. Whitmire sold 600 shares of the company in a trade that took place on Tuesday, July 5. 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 CFO now directly owns 27,125 shares of the company, valued at $1,627,500. The disclosure of this sale can be found here. Company insiders own 2.60% of the company’s shares.

Hedge funds weigh on the diodes

Several hedge funds and other institutional investors have recently changed their holdings in the company. JPMorgan Chase & Co. increased its position in Diodes by 41.8% during the 4th quarter. JPMorgan Chase & Co. now owns 95,806 shares of the semiconductor company worth $10,520,000 after acquiring 28,224 more shares in the last quarter. Rockefeller Capital Management LP increased its position in Diodes shares by 30.2% in the fourth quarter. Rockefeller Capital Management LP now owns 1,989 shares of the semiconductor company valued at $218,000 after buying 461 additional shares in the last quarter. State Street Corp increased its stake in Diodes shares by 6.1% in the fourth quarter. State Street Corp now owns 1,792,968 shares of the semiconductor company valued at $196,886,000 after purchasing an additional 103,622 shares during the period. PDT Partners LLC acquired a new position in Diodes stock in Q4 valued at approximately $406,000. Finally, Cubist Systematic Strategies LLC increased its stake in Diodes shares by 164.3% in the 4th quarter. Cubist Systematic Strategies LLC now owns 69,046 shares of the semiconductor company valued at $7,582,000 after purchasing an additional 42,917 shares during the period. Institutional investors hold 95.57% of the company’s shares.

Diode Stock Performance

NASDAQ: DIOD traded at $2.66 midday on Monday, hitting $67.57. 1,231 shares were traded, against an average volume of 280,543. The stock has a market capitalization of $3.07 billion, a price-earnings ratio of 10.66 and a beta of 1.30. The company’s 50-day simple moving average is $73.72 and its 200-day simple moving average is $73.88. The company has a debt 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 reported quarterly earnings data on Thursday, August 4. The semiconductor company reported earnings per share of $1.90 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 company posted revenue of $500.97 million in the quarter, compared to $501.47 million expected by analysts. During the same period of the previous year, the company achieved EPS of $1.20. The company’s quarterly revenue increased by 13.7% compared to the same quarter last year. As a group, stock analysts expect Diodes to post EPS of 7.15 for the current fiscal year.

Analyst upgrades and downgrades

A number of analysts have recently released reports on DIOD shares. StockNews.com upgraded Diodes from a “hold” rating to a “buy” rating in a research report on Thursday. Cowen raised his price target on Diodes to $95.00 in a Tuesday, August 9 research report. Finally, Wells Fargo & Company lowered its price target on diodes from $85.00 to $65.00 and set an “equal weight” rating for the company in a Monday, July 11 report.

Diodes company profile

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Diodes Incorporated designs, manufactures and supplies standard products specific to applications in the global discrete, logic, analog and mixed-signal semiconductor markets. It focuses on low pin count semiconductor devices with one or more active or passive components. The company offers discrete semiconductor products, such as MOSFETs, TVS, and high-performance Schottky rectifiers; GPP bridges and retifiers and high-performance Schottky diodes; Zener diodes and Zener performance including tight tolerance and low operating current type; standard, fast, super-fast and super-fast recovery straighteners; bridge rectifiers; switching diodes; small-signal bipolar and prepolarized transistors; thyristor surge protection devices; and transient voltage suppressors.

Further reading

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