Fact Check: What’s wrong with Diodes Incorporated (DIOD) today

The biggest losers of the session on the Wall Street include Diodes Incorporated (NASDAQ:DIOD), which fell -1.27 points or -2.48% to trade at $50.21 as last check. The stock closed last session at $51.48 and sets an active trading volume day with a reported 158656 contracts so far this session. DIOD shares had a relatively better volume day versus average trading capacity of 382.94 thousand shares, but with a 41.13 million float and a 0.12% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for DIOD stock indicates that the average analyst price target is $52.5 per share. This means the stock has a potential increase of 4.56% from where the DIOD share price has been trading recently.

During the recent trading session for Diodes Incorporated (NASDAQ:DIOD), the company witnessed their stock rise $0.29 over a week and tumble down $-7.55 from the price 20 days ago. When compared to their established 52-week high of $59.7, the high they recorded in their recent session happens to be higher. Their established 52-week high was attained by the company on 01/22/20. The recent low of $30.51 stood for a -15.9% since 03/06/19, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 1.31 is also allocated to the stock. Since the beta is greater than one, it implies that the stock is more volatile than the market, a data that traders are keeping close attention to.

Looking at the current readings for Diodes Incorporated, the two-week RSI stands at 40.9. This figure suggests that DIOD stock, for now, is neutral, meaning that the shares are stable in terms of price movement. The stochastic readings, on the other hand, based on the current DIOD readings is similarly very revealing as it has a stochastic reading of 34.49% at this stage. This figure means that DIOD share price today is being neutral.

Technical chart claims that Diodes Incorporated (DIOD) would settle between $52.71/share to $53.94/share level. However, if the stock price goes below the $50.53 mark, then the market for Diodes Incorporated becomes much weaker. If that happens, the stock price might even plunge as low as $49.58 for its downside target. The stock is currently in the green zone of MACD, with the indicator reading 0.71. Traders are always alerted for the move of a stock above or below the zero line due to the fact that the reading is an indicator of the position of the short-term average relative to the long-term average. If the MACD is above the zero line, then the short-term average relative is above that of the long-term average, thus implying an upward momentum. Vice versa is the case if the MACD is below the zero line.

Analysts at Wells Fargo, assumed coverage of DIOD assigning Outperform rating, according to their opinion released on August 19. Longbow analysts have lowered their rating of Diodes Incorporated (NASDAQ:DIOD) stock from Buy to Neutral in a separate flash note issued to investors on April 17. Analysts at Sidoti released an upgrade from Neutral to Buy for the stock, in a research note that dated back to September 19.

DIOD equity has an average rating of 2.83, with the figure leaning towards a bullish end. 6 analysts who tracked the company were contacted by Reuters. Amongst them, 5 rated the stock as a hold while the remaining 1 were split even though not equally. Some analysts rate the stock as a buy or a strong buy while no rated it as a sell. 1 analysts rated Diodes Incorporated (NASDAQ:DIOD) as a buy or a strong buy while not a single analyst advised that investors should desist from purchasing the stock or sell them if they already own the company’s stock.

Moving on, DIOD stock price is currently trading at 18.56X forward 12-month Consensus EPS estimates, and its P/E ratio is 17.4 while for the average stock in the same group, the multiple is 28.3. Diodes Incorporated current P/B ratio of 2.4 means it is trading at a discount against its industry’s 5.2.

Diodes Incorporated (DIOD)’s current-quarter revenues are projected to climb by nearly -4.3% to hit $288750, based on current consensus estimate. The firm’s full-year revenues are expected to expand by over -0.9% from $1.25 billion to a noteworthy $1.24 billion. At the other end of the current quarter income statement, Diodes Incorporated is expected to see its adjusted earnings surge by roughly -24.6% to hit $0.52 per share. For the fiscal year, DIOD’s earnings are projected to climb by roughly -7.9% to hit $2.68 per share.