Diodes Incorporated (NASDAQ:DIOD) Announces Earnings Results, Hits Expectations
Diodes Incorporated (NASDAQ:DIOD) posted its earnings results on Tuesday. The semiconductor company reported $0.36 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.36, Briefing.com reports. Diodes had a net margin of 1.98% and a return on equity of 4.72%. The company had revenue of $264.20 million during the quarter, compared to analysts’ expectations of $261.15 million. During the same quarter in the prior year, the company posted $0.20 earnings per share. Diodes’s revenue for the quarter was up 11.8% compared to the same quarter last year.
Shares of Diodes (NASDAQ DIOD) traded up 1.13% on Tuesday, reaching $26.83. 217,029 shares of the company’s stock were exchanged. The firm has a 50 day moving average of $25.48 and a 200 day moving average of $24.89. The firm has a market capitalization of $1.30 billion, a P/E ratio of 71.36 and a beta of 1.22. Diodes has a one year low of $18.32 and a one year high of $27.50.
DIOD has been the subject of a number of analyst reports. Cleveland Research cut shares of Diodes from a “buy” rating to a “neutral” rating in a research report on Thursday, July 20th. BidaskClub raised shares of Diodes from a “sell” rating to a “hold” rating in a research report on Monday, July 24th. Zacks Investment Research cut shares of Diodes from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 11th. Finally, Robert W. Baird reissued an “outperform” rating and set a $30.00 target price on shares of Diodes in a research report on Friday, June 9th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $29.50.
In other news, CFO Richard Dallas White sold 2,750 shares of the business’s stock in a transaction that occurred on Wednesday, July 5th. The shares were sold at an average price of $23.81, for a total transaction of $65,477.50. Following the completion of the sale, the chief financial officer now owns 93,621 shares in the company, valued at approximately $2,229,116.01. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Francis Tang sold 2,200 shares of the business’s stock in a transaction that occurred on Tuesday, May 16th. The stock was sold at an average price of $26.66, for a total transaction of $58,652.00. Following the sale, the vice president now owns 69,943 shares of the company’s stock, valued at approximately $1,864,680.38. The disclosure for this sale can be found here. Insiders have sold a total of 306,069 shares of company stock valued at $7,989,798 in the last 90 days. Insiders own 6.70% of the company’s stock.
Diodes Company Profile
Diodes Incorporated is a manufacturer and supplier of application-specific standard products within the discrete, logic, analog and mixed-signal semiconductor markets, serving the consumer electronics, computing, communications, industrial and automotive markets. The Company’s products include diodes; rectifiers; transistors; metal-oxide semiconductor field-effect transistors (MOSFETs); protection devices; amplifiers and comparators; Hall-effect and temperature sensors, and power management devices, including light emitting diode (LED) drivers, alternating current (AC)-direct current (DC) and DC-DC switching, linear voltage regulators and voltage references, along with special function devices, such as universal serial bus (USB) power switches, load switches, voltage supervisors and motor controllers.
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