On Jan. 06, Lu Keh Shew divested U.S. $3,942,411 in shares of Diodes Incorporated. The Pres, CEO sold 51,020 shares at a price per share of $77.27. The transaction decreased this specific insider’s holdings to 1,179,193 shares worth around $90.85 million at present.
Cowen maintained its Diodes Incorporated [DIOD] rating to the equivalent of an Outperform but changed the price target to $78 from $73, in a research note dated December 21, 2020. That figure represents around a 1.23% premium from where the company’s shares closed on Friday. Other analysts also revised their coverage, with Cowen’s analysts reiterating the shares to “an Outperform” rating in a research note to investors issued in late December. Meanwhile, Truist had launched its coverage on DIOD with “Buy”, in a research note produced for clients November 24, 2020. In addition, there was a downgrade from Wells Fargo on November 06, 2020. The rater changed DIOD from “an Overweight” to “an Equal weight”.
Is Diodes Incorporated [NASDAQ:DIOD] a Good Buy Right Now?
It should be noted that DIOD technical indicators for short, intermediate as well as long term progress have placed an overall average of 100% as Buy. The average signal changed from 100% Buy in the last week and compares with 100% Buy in the past month. Data from Diodes Incorporated’s Trend Spotter indicated that the signals were Weakening. The stock current average is 0.3 million shares in the past 20 days and the short term average signal indicates a 100% Buy. In the last 50 days, the average trading volume was 0.28 million shares while the medium term average advocated for 100% Buy. The average long-term signal stands at 100% Buy and the 100-day average volume stands at 0.27 million shares.
DIOD Price Performance
On Wall Street, Diodes Incorporated [NASDAQ:DIOD] finished Friday’s session down -2.59% at $77.04. The stock went up to $79.84 at the same session while its lowest single day price was $76.47. In the last five days, it saw a rise of about 9.28%, Diodes Incorporated shares gained by almost 9.28% since the beginning of the year. However, the share price has dropped to as low as -3.00% below its one year high. On 01/08/21, the company shares recorded $79.84, the highest single-day price it has got to in the last 52-weeks and a 52-week low was seen on 01/04/21, the same year at $69.76. The company’s shares have inclined by 33.17% in the past year. The 50-day SMA achieved is $66.79 while the 200-day SMA is $54.62. Volume dropped to 0.26 million from 0.28 million in the previous session.
Diodes Incorporated [DIOD] Valuation Measures
Notably, Diodes Incorporated [DIOD] stock cannot be classified as a good candidate in the listing of underestimated low-priced Semiconductors companies to purchase soonest possible with the prevailing 12-month PE ratio of 35.00. The measure means the stock is exchanging at a premium as compared to the 33.16x trailing earnings of the industry. It can be helpful for investors to consider historical price-sales ratio, more specifically, a 3.49 PS value ratio is reported for the last one year of reported earnings. That is higher than the industry average of 2.66 which means DIOD serve an unattractive investment opportunity compared to its competitors.
DIOD Stock Support And Resistance Levels
On the 24-hour scale, the immediate backing is perceived around 75.73 level, and in case of violation of this particular level, it will cause more drop to 74.41 level. On the upper level, 81.15 is still the key resistance. The stock may increase to the subsequent resistance at 79.10. The Relative Strength Index (RSI) pinned on the 14-day chart is 69.64, implying a neutral technical stance while the MACD stands at 6.82, meaning price will increase in the next trading period. Percent R indicator moved to 20.07%, implying bullish price movement. Stochastic %K at 92.24% suggest selling the stock.
What is the short interest in Diodes Incorporated?
Short interest in the Diodes Incorporated stock has plunged, decreasing by 6650.0 shares to total 0.71 million shares on Dec 14, 2020. The interest had seen shares on Nov 12, 2020 stand at 0.7 million, data from Yahoo Finance shows. The increase of 0.94% suggests the stock saw some increased bearish sentiment. The stock’s days to cover (short ratio) moved to while the shorted shares account for just 1.98% of the overall float for the stock.
Diodes Incorporated’s Biggest Shareholders: Who Owns Diodes Incorporated [DIOD]?
Filings by BlackRock Fund Advisors showed that the firm now holds a total of 5,638,919 shares or roughly 10.84% of the outstanding DIOD shares. This means their shares have reduced by -128,049 from the 5,638,919 the investor reportedly held in its prior 13-F filing. With the conclusion of the sale, The Vanguard Group, Inc. updated stake is worth $300,665,710. Details in the latest 13F filings reveal that Dimensional Fund Advisors LP disposed off their -5.06% stake valued at $208,679,403 while Congress Asset Management Co. LLP cut theirs at $139,706,120. During the last quarter, Dimensional Fund Advisors LP liquidated -163,756 of its shares in Diodes Incorporated while Congress Asset Management Co. LLP sold -1,621 shares. The LSV Asset Management’s holdings currently number 1,553,322 shares at $119667926.88. According to the firm’s last 13F report, Mellon Investments Corp. shares in the company at filing stood at 1,553,416 shares, roughly $105,570,151.
DIOD Earnings Forecast For The Current Quarter
Diodes Incorporated [DIOD] is expected to report strong earnings results for the quarter ending on Dec 2020. Consensus estimates give the company expected revenues of $340.51M and an earnings per share of $0.7 for Dec 2020. Looking further ahead, the company is expected to report revenue of $362.19M at an EPS of $0.69 for Mar 2021. The estimates represent upside of 26.60% and 42.40% in the company’s revenue and earnings per share, respectively, on a year-on-year basis.
DIOD Earnings Estimates For The Current Year
For the financial year, Diodes Incorporated [NASDAQ:DIOD] is expected to bring in revenue of $1.22B. The returns are nearly $-30.0 million lower than the company’s actual revenue recorded in the fiscal year 2019. In terms of EPS for the 2020, estimate put it at 2.32, lower than that of FY19 by -$0.59. Estimates put this year’s earnings growth at -20.30%, 42.20% for the next, and at an annual 15.00% over the next 5-year period. As for sales, forecasts are for a decrease of -2.40% in the current fiscal year and a further 26.60% over the following year.
What are analyst thoughts on Diodes Incorporated?
Looking forward to the Diodes Incorporated share price prediction, we can see that analysts, surveyed by FactSet, offer the mean price target for Diodes Incorporated stock at $78.00 within the next 12 months, which represents almost 1.23 per cent growth from its previous closing price of $77.04. The highest analysts’ target for Diodes Incorporated stock projections is $84.00 and the lowest one is $63.00. Still, 7 analysts sharing their consensus rating for DIOD stock in 2021 agree that it is an Overweight.