Diodes (DIOD - Free Report) closed the most recent trading day at $40.70, moving +1.37% from the previous trading session. The stock outpaced the S&P 500's daily loss of 1.23%. Meanwhile, the Dow lost 1.28%, and the Nasdaq, a tech-heavy index, lost 1.13%.
Heading into today, shares of the semiconductor components maker had gained 9.85% over the past month, outpacing the Computer and Technology sector's gain of 1.53% and the S&P 500's gain of 1.95% in that time.
Wall Street will be looking for positivity from DIOD as it approaches its next earnings report date. In that report, analysts expect DIOD to post earnings of $0.78 per share. This would mark year-over-year growth of 14.71%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $324 million, up 0.95% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $2.85 per share and revenue of $1.25 billion, which would represent changes of +19.75% and +3.2%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for DIOD. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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. DIOD is holding a Zacks Rank of #2 (Buy) right now.
Investors should also note DIOD's current valuation metrics, including its Forward P/E ratio of 14.09. This represents a discount compared to its industry's average Forward P/E of 19.18.
The Electronics - Semiconductors industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 118, which puts it in the top 47% 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.
To follow DIOD in the coming trading sessions, be sure to utilize Zacks.com.