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Diodes (DIOD) Gains As Market Dips: What You Should Know

·2 min read

Diodes (DIOD) closed at $107.34 in the latest trading session, marking a +1.07% move from the prior day. This move outpaced the S&P 500's daily loss of 0.1%. Meanwhile, the Dow lost 0.47%, and the Nasdaq, a tech-heavy index, lost 0.47%.

Heading into today, shares of the semiconductor components maker had lost 4.4% over the past month, lagging the Computer and Technology sector's loss of 1% and the S&P 500's gain of 3.67% in that time.

Diodes will be looking to display strength as it nears its next earnings release. On that day, Diodes is projected to report earnings of $1.45 per share, which would represent year-over-year growth of 95.95%. Meanwhile, our latest consensus estimate is calling for revenue of $476.2 million, up 35.91% from the prior-year quarter.

Any recent changes to analyst estimates for Diodes should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.

Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.

Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Diodes currently has a Zacks Rank of #2 (Buy).

Digging into valuation, Diodes currently has a Forward P/E ratio of 17.79. Its industry sports an average Forward P/E of 22.76, so we one might conclude that Diodes is trading at a discount comparatively.

The Electronics - Semiconductors industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 85, putting it in the top 34% of all 250+ industries.

The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.

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