Diodes Incorporated (DIOD) Lowered to Hold at Zacks Investment Research
Diodes Incorporated (NASDAQ:DIOD) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a research report issued on Tuesday.
According to Zacks, “Diodes Incorporated is a leading manufacturer and supplier of high-quality discrete and analog semiconductor products, primarily to the communications, computing, industrial, consumer electronics and automotive markets. The Company’s corporate sales, marketing, engineering and logistics headquarters is located in Southern California, with two manufacturing facilities in Shanghai, China, a wafer fabrication plant in Kansas City, Missouri, engineering, sales, warehouse and logistics offices in Taipei, Taiwan and Hong Kong, and sales and support offices throughout the world. Diodes, Inc. recently acquired Anachip Corporation, a fabless analog IC company in Hsinchu Science Park, Taiwan. It’s product focus is on subminiature surface-mount discrete devices, analog power management ICs and Hall-effect sensors all of which are widely used in end-user equipment. “
Several other analysts have also recently issued reports on the company. Cleveland Research cut Diodes from a “buy” rating to a “neutral” rating in a report on Thursday, July 20th. BidaskClub cut Diodes from a “hold” rating to a “sell” rating in a report on Wednesday, July 5th. Finally, Sidoti started coverage on Diodes in a report on Thursday, September 21st. They issued a “neutral” rating and a $32.00 target price for the company. One analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $30.67.
Shares of Diodes (NASDAQ DIOD) traded up 2.49% during mid-day trading on Tuesday, reaching $31.70. The company had a trading volume of 474,566 shares. Diodes has a 1-year low of $19.64 and a 1-year high of $31.95. The stock’s 50-day moving average price is $28.54 and its 200 day moving average price is $26.00. The company has a market capitalization of $1.56 billion, a PE ratio of 60.04 and a beta of 1.26.
Diodes (NASDAQ:DIOD) last issued its earnings results on Tuesday, August 8th. The semiconductor company reported $0.36 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.36. The company had revenue of $264.20 million during the quarter, compared to analysts’ expectations of $261.15 million. Diodes had a return on equity of 5.64% and a net margin of 2.68%. The firm’s quarterly revenue was up 11.8% on a year-over-year basis. During the same period in the prior year, the business earned $0.20 EPS. Equities analysts expect that Diodes will post $1.28 EPS for the current year.
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In other news, major shareholder Semiconductor Corp Lite-On sold 116,209 shares of the stock in a transaction on Wednesday, August 16th. The stock was sold at an average price of $26.95, for a total transaction of $3,131,832.55. Following the completion of the transaction, the insider now directly owns 8,045,778 shares in the company, valued at approximately $216,833,717.10. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Keh Shew Lu sold 69,983 shares of the stock in a transaction on Tuesday, October 10th. The stock was sold at an average price of $31.20, for a total value of $2,183,469.60. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 604,359 shares of company stock valued at $17,379,650. Company insiders own 7.00% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. grew its holdings in shares of Diodes by 50,610.4% during the 1st quarter. BlackRock Inc. now owns 4,634,934 shares of the semiconductor company’s stock worth $111,471,000 after purchasing an additional 4,625,794 shares during the period. Vanguard Group Inc. grew its holdings in shares of Diodes by 5.2% during the 1st quarter. Vanguard Group Inc. now owns 3,356,058 shares of the semiconductor company’s stock worth $80,713,000 after purchasing an additional 165,243 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of Diodes by 8.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,247,902 shares of the semiconductor company’s stock worth $78,048,000 after purchasing an additional 261,522 shares during the period. State Street Corp grew its holdings in shares of Diodes by 4.8% during the 2nd quarter. State Street Corp now owns 1,022,899 shares of the semiconductor company’s stock worth $24,572,000 after purchasing an additional 46,506 shares during the period. Finally, Northern Trust Corp grew its holdings in shares of Diodes by 2.9% during the 2nd quarter. Northern Trust Corp now owns 777,284 shares of the semiconductor company’s stock worth $18,679,000 after purchasing an additional 21,697 shares during the period. Institutional investors and hedge funds 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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