Diodes (DIOD) closed the most recent trading day at $39.85, moving +1.76% from the previous trading session. The stock outpaced the S&P 500's daily gain of 0.62%. At the same time, the Dow added 0.61%, and the tech-heavy Nasdaq gained 1.05%.
Coming into today, shares of the semiconductor components maker had gained 6.99% in the past month. In that same time, the Computer and Technology sector gained 3.77%, while the S&P 500 gained 3.85%.
DIOD will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of $0.78, up 14.71% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $324 million, up 0.95% from the year-ago period.
DIOD's full-year Zacks Consensus Estimates are calling for earnings of $2.85 per share and revenue of $1.25 billion. These results would represent year-over-year changes of +19.75% and +3.2%, respectively.
It is also important to note the recent changes to analyst estimates for DIOD. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. DIOD is currently sporting a Zacks Rank of #2 (Buy).
Digging into valuation, DIOD currently has a Forward P/E ratio of 13.74. This represents a discount compared to its industry's average Forward P/E of 19.31.
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 gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. 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.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Diodes Incorporated (DIOD) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research