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Can Diodes (DIOD) Run Higher on Strong Earnings Estimate Revisions?

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Diodes Incorporated (DIOD - Free Report) is a semiconductor products manufacturer that could be an interesting play for investors. That is because, not only does the stock have decent short-term momentum, but it is seeing solid activity on the earnings estimate revision front as well.

These positive earnings estimate revisions suggest that analysts are becoming more optimistic on DIOD’s earnings for the coming quarter and year. In fact, consensus estimates have moved sharply higher for both of these time frames over the past four weeks, suggesting that Diodes could be a solid choice for investors.

Current Quarter Estimates for DIOD

In the past 30 days, one estimate has gone higher for Diodes while none have gone lower in the same time period. The trend has been pretty favorable too, with estimates increasing from 23 cents a share 30 days ago, to 28 cents today, a move of 21.7%.

Current Year Estimates for DIOD

Meanwhile, Diodes’ current year figures are also looking quite promising, with one estimate moving higher in the past month, compared to none lower. The consensus estimate trend has also seen a boost for this time frame, increasing from 88 cents per share 30 days ago to $1.00 per share today, an increase of 13.6%.

Diodes Incorporated Price and Consensus

 

Diodes Incorporated Price and Consensus | Diodes Incorporated Quote

Bottom Line

The stock has also started to move higher lately, adding 16.3% over the past four weeks, suggesting that investors are starting to take note of this impressive story. So investors may definitely want to consider this Zacks Rank #2 (Buy) stock to profit in the near future. You can see the complete list of today’s Zacks #1 (Strong Buy) Rank stocks here.

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