Sidoti Initiates Coverage on Diodes Incorporated (DIOD)
Analysts at Sidoti started coverage on shares of Diodes Incorporated (NASDAQ:DIOD) in a report issued on Thursday. The firm set a “neutral” rating and a $32.00 price target on the semiconductor company’s stock. Sidoti’s target price would indicate a potential upside of 13.72% from the company’s previous close.
DIOD has been the topic of a number of other research reports. Zacks Investment Research upgraded Diodes from a “hold” rating to a “buy” rating and set a $30.00 target price on the stock in a research report on Friday, August 11th. Robert W. Baird reiterated an “outperform” rating and set a $30.00 target price on shares of Diodes in a research report on Friday, June 9th. BidaskClub cut Diodes from a “hold” rating to a “sell” rating in a research report on Wednesday, July 5th. Finally, Cleveland Research cut Diodes from a “buy” rating to a “neutral” rating in a research report on Thursday, July 20th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the stock. Diodes currently has an average rating of “Hold” and an average price target of $30.67.
Diodes (NASDAQ:DIOD) last posted its earnings results on Tuesday, August 8th. The semiconductor company reported $0.36 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.36. Diodes had a return on equity of 5.64% and a net margin of 2.68%. The business had revenue of $264.20 million for the quarter, compared to analysts’ expectations of $261.15 million. During the same quarter in the previous year, the firm earned $0.20 earnings per share. The business’s revenue was up 11.8% compared to the same quarter last year.
In related news, CEO Keh Shew Lu sold 8,505 shares of the business’s stock in a transaction dated Wednesday, July 5th. The stock was sold at an average price of $23.81, for a total value of $202,504.05. Following the transaction, the chief executive officer now owns 1,032,021 shares in the company, valued at approximately $24,572,420.01. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Richard Dallas White sold 2,750 shares of the business’s stock in a transaction dated Wednesday, July 5th. The shares were sold at an average price of $23.81, for a total value of $65,477.50. Following the completion of the transaction, the chief financial officer now owns 93,621 shares in the company, valued at approximately $2,229,116.01. The disclosure for this sale can be found here. Insiders sold a total of 310,508 shares of company stock worth $8,369,544 in the last 90 days. 7.00% of the stock is currently owned by insiders.
Hedge funds have recently modified their holdings of the stock. State of Alaska Department of Revenue increased its position in Diodes by 79.1% in the 2nd quarter. State of Alaska Department of Revenue now owns 7,542 shares of the semiconductor company’s stock valued at $181,000 after acquiring an additional 3,332 shares during the period. Public Employees Retirement System of Ohio increased its position in Diodes by 10.1% in the 1st quarter. Public Employees Retirement System of Ohio now owns 8,745 shares of the semiconductor company’s stock valued at $210,000 after acquiring an additional 800 shares during the period. Mason Street Advisors LLC increased its position in Diodes by 5.7% in the 1st quarter. Mason Street Advisors LLC now owns 8,923 shares of the semiconductor company’s stock valued at $215,000 after acquiring an additional 481 shares during the period. Airain ltd acquired a new position in Diodes in the 1st quarter valued at about $247,000. Finally, Virtu KCG Holdings LLC increased its position in Diodes by 8.0% in the 2nd quarter. Virtu KCG Holdings LLC now owns 10,997 shares of the semiconductor company’s stock valued at $264,000 after acquiring an additional 815 shares during the period. Hedge funds and other institutional investors own 73.74% 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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