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

Diodes Incorporated (NASDAQ:DIOD) saw 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.

Insider Activity

In related news, CFO Brett R. Whitmire sold 1,900 shares of the company’s stock in a transaction that occurred 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 transaction, the chief financial officer now directly owns 46,365 shares of the company’s stock, valued at approximately $3,245,086.35. This represents a 3.94 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Emily Yang sold 1,272 shares of Diodes stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $72.16, for a total value of $91,787.52. Following the transaction, the senior vice president now owns 29,028 shares of the company’s stock, valued at $2,094,660.48. This trade represents a 4.20 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 4,172 shares of company stock valued at $295,249. 2.30% of the stock is owned by insiders.

Hedge Funds Weigh In On Diodes

A number of hedge funds have recently modified their holdings of the company. Truvestments Capital LLC bought a new stake in shares of Diodes in the third quarter worth about $29,000. GAMMA Investing LLC lifted its position in shares of Diodes by 66.5% during the second quarter. GAMMA Investing LLC now owns 453 shares of the semiconductor company’s stock worth $33,000 after purchasing an additional 181 shares during the last quarter. EntryPoint Capital LLC bought a new position in Diodes in the 1st quarter worth about $40,000. Innealta Capital LLC bought a new position in shares of Diodes during the 2nd quarter worth $88,000. Finally, KBC Group NV lifted its holdings in Diodes by 33.9% during the third 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. 99.23% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have weighed in on DIOD. Truist Financial reduced their price objective on Diodes from $69.00 to $62.00 and set a “hold” rating for the company in a report on Friday, November 8th. Benchmark dropped their price target on Diodes from $83.00 to $75.00 and set a “buy” rating for the company in a research report on Monday, November 11th. Finally, StockNews.com raised Diodes from a “sell” rating to a “hold” rating in a research note 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. Based on data from MarketBeat, Diodes currently has an average rating of “Hold” and an average price target of $72.80.

Diodes Stock Performance

Shares of DIOD traded down $0.15 during mid-day trading on Tuesday, hitting $53.69. 20,331 shares of the company traded hands, compared to its average volume of 344,013. The stock has a 50-day moving average price of $61.77 and a two-hundred day moving average price of $68.56. The stock has a market cap of $2.49 billion, a price-to-earnings ratio of 40.79 and a beta of 1.32. 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 1 year low of $52.71 and a 1 year high of $86.74.

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.