BlackRock Fund Advisors has recently announced that it has increased stake in Diodes Incorporated (NASDAQ:DIOD) by 1.68%. After grabbing 6.53 million shares, the institutional investor is now in possession of 0.11 million shares of the Technology Company. The new investment brought the stake of investor firm to 14.36% having worth around $497.1 million. Moreover, The Vanguard Group, Inc. increased its share by 0.1 million to have a control over 5.19 million shares. And Dimensional Fund Advisors LP raised its holdings to 1489.0 shares by acquiring 2.04 million shares or 4.48% of the stake.
Diodes Incorporated (DIOD) concluded trading on 01/19/23 at a closing price of $84.90, with 0.19 million shares of worth about $16.24 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 13.76% during that period and on Thursday the price saw a loss of about -1.82%. Currently the company’s common shares owned by public are about 45.48M shares, out of which, 44.60M shares are available for trading.
A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 7 analysts are covering the DIOD stock and their offered price forecasts bring an average price target of $91.40. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $100.00 and could fall to a lowest price of $75.00. The stock’s current price level is 7.11% above of average price target set by the analysts, while a rise to estimated low would result in loss of -13.2% for the stock. However, touching the estimated high of $100.00 would mean a gain of 15.1% for the stock.
According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 84 times over the past 12 months. They bought 446,046 shares in 32 of the transactions. In 52 selling transactions, insiders dumped 413,330 shares.
iShares Core S&P Small Cap ETF, Vanguard Total Stock Market Index, and Vanguard Small Cap Index Fund are the top 3 mutual funds which are holding stakes in Diodes Incorporated iShares Core S&P Small Cap ETF is currently holding 3.36 million shares of worth totaling $255.69 million. The company recently came selling 8055.0 shares which brought its stake up to 7.39% of the company’s outstanding shares. Vanguard Total Stock Market Index bought 2532.0 shares, after which its hold over company’s outstanding shares expand to 2.90%, leaving 1.32 million shares with the mutual fund that have a worth of about $100.23 million. Vanguard Small Cap Index Fund, after buying 1.12 million shares, have now control over 2.46% of the stake in the company. It holds 1792.0 shares of worth $85.03 million.
Diodes Incorporated (NASDAQ: DIOD) started trading at $86.18, below -$0.29 from concluding price of the previous day. However, the stock later moved at a day high price of 86.27, or with a loss of -1.82%. Stock saw a price change of 0.92% in past 5 days and over the past one month there was a price change of 5.44%. Year-to-date (YTD), DIOD shares are showing a performance of 11.51% which decreased to -8.61% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $58.52 but also hit the highest price of $98.96 during that period. The average intraday trading volume for Diodes Incorporated shares is 236.32K. The stock is currently trading 6.14% above its 20-day simple moving average (SMA20), while that difference is up 2.26% for SMA50 and it goes to 13.30% higher than SMA200.
BlackRock Fund Advisors acquired 6.53 million shares of Diodes Incorporated having value of about $497.1 million. Data submitted at the U.S SEC by BlackRock Fund Advisors revealed that the firm now holds 0.11 million shares in the company valued at close to $9167926.5, or have control over 1.68% stake in the company. Holding of mutual funds in the company is about 39.16% while other institutional holders and individual stake holders have control over 59.17% and 21.95% of the stake respectively.
The stock has a current market capitalization of $3.78B and its 3Y-monthly beta is at 1.45. PE ratio of stock for trailing 12 months is 12.83, while it has posted earnings per share of $6.62 in the same period. Its PEG reads 0.86 and has Quick Ratio of 1.80 while making debt-to-equity ratio of 0.21. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for DIOD, volatility over the week remained 3.25% while standing at 3.34% over the month.
Analysts are in expectations that Diodes Incorporated (DIOD) stock would likely to be making an EPS of $1.85 in the current quarter, while forecast for next quarter EPS is $1.62 and it is $7.04 for next year. For the current quarter EPS, analysts have given the company a lowest target $1.82 which is $1.89 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $1.47 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 165.60% while it is estimated to decrease by -9.96% in next year. EPS is likely to shrink at an annualized rate of 15.00% for next 5-years, compared to annual growth of 73.30% made by the stock over the past 5-years.
Analysts at 7 brokerage firms have issued recommendations for the Diodes Incorporated (DIOD)’s stock and average of those rates the stock at a “Moderate Buy” and assign it a score of 2.10. Out of those 7 Wall Street analysts, 3 recommended a “Buy” rating, while 2 were in favor recommending the stock as a “Hold” and 0 analyst recommended the stock as “Sell”.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by The Benchmark Company on August 06, 2021 offering a Buy rating for the stock and assigned a target price of $100 to it. Coverage by Cowen stated Diodes Incorporated (DIOD) stock as an Outperform in their note to investors on August 06, 2021, suggesting a price target of $110 for the stock. On May 07, 2021, Cowen Reiterated their recommendations, while on February 17, 2021, Cowen Reiterated their ratings for the stock with a price target of $95. Stock get an Outperform rating from Cowen on December 21, 2020.