Raymond James Reiterates “Outperform” Rating for Diodes (DIOD)
Diodes (NASDAQ:DIOD)‘s stock had its “outperform” rating restated by equities researchers at Raymond James in a research report issued on Tuesday. They currently have a $33.00 price target on the stock, up from their previous price target of $30.00. Raymond James’ price objective points to a potential upside of 11.98% from the stock’s previous close.
In other Diodes news, Director Raymond Soong unloaded 110,000 shares of the stock in a transaction that occurred on Wednesday, June 4th. The shares were sold at an average price of $27.50, for a total value of $3,025,000.00. The sale was disclosed in a filing with the SEC, which can be accessed through this link.
Diodes (NASDAQ:DIOD) traded up 4.17% during mid-day trading on Tuesday, hitting $30.70. The stock had a trading volume of 255,119 shares. Diodes has a one year low of $19.26 and a one year high of $30.28. The stock’s 50-day moving average is $27.13 and its 200-day moving average is $24.61. The company has a market cap of $1.437 billion and a P/E ratio of 36.75.
Diodes (NASDAQ:DIOD) last announced its earnings results on Thursday, May 8th. The company reported $0.26 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.23 by $0.03. The company had revenue of $209.99 million for the quarter, compared to the consensus estimate of $208.73 million. During the same quarter last year, the company posted $0.16 earnings per share. Diodes’s revenue was up 18.6% compared to the same quarter last year. On average, analysts predict that Diodes will post $1.47 earnings per share for the current fiscal year.
Several other analysts have also recently commented on the stock. Analysts at Topeka Capital Markets raised their price target on shares of Diodes from $32.00 to $34.00 in a research note on Tuesday. They now have a “buy” rating on the stock. Separately, analysts at Robert W. Baird raised their price target on shares of Diodes from $30.00 to $33.00 in a research note on Tuesday. Finally, analysts at TheStreet upgraded shares of Diodes from a “hold” rating to a “buy” rating in a research note on Monday, May 12th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $30.76.
Diodes Incorporated is a global manufacturer and supplier of application specific standard products within the discrete, logic and analog semiconductor markets, serving the consumer electronics, computing, communications, industrial and automotive markets.
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