Diodes Incorporated (DIOD) Stock Rating Upgraded by Zacks Investment Research
Diodes Incorporated (NASDAQ:DIOD) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Tuesday. The brokerage currently has a $38.00 target price on the semiconductor company’s stock. Zacks Investment Research‘s price target would indicate a potential upside of 16.46% from the company’s current price.
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 weighed in on the company. Robert W. Baird reaffirmed a “buy” rating and set a $37.00 price objective on shares of Diodes in a research report on Tuesday. Sidoti assumed coverage on Diodes in a research report on Thursday, September 21st. They set a “neutral” rating and a $32.00 price objective on the stock. BidaskClub raised Diodes from a “sell” rating to a “hold” rating in a research report on Monday, July 24th. Finally, Cleveland Research cut Diodes from a “buy” rating to a “neutral” rating in a research report on Thursday, July 20th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. Diodes has an average rating of “Hold” and an average target price of $35.67.
Shares of Diodes (DIOD) traded down 0.58% on Tuesday, reaching $32.63. The company’s stock had a trading volume of 267,955 shares. The company has a market cap of $1.60 billion, a P/E ratio of 61.80 and a beta of 1.26. The company’s 50 day moving average price is $29.09 and its 200 day moving average price is $26.18. Diodes has a 12-month low of $19.64 and a 12-month high of $33.12.
Diodes (NASDAQ:DIOD) last posted its quarterly earnings data on Tuesday, August 8th. The semiconductor company reported $0.36 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.36. The business had revenue of $264.20 million for 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 business’s revenue was up 11.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.20 EPS. Analysts forecast that Diodes will post $1.31 EPS for the current fiscal year.
In other news, major shareholder Semiconductor Corp Lite-On sold 116,209 shares of the business’s stock in a transaction that occurred on Wednesday, August 16th. The stock was sold at an average price of $26.95, for a total value of $3,131,832.55. Following the sale, the insider now directly owns 8,045,778 shares of the company’s stock, valued at approximately $216,833,717.10. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Keh Shew Lu sold 69,084 shares of the business’s stock in a transaction that occurred on Tuesday, October 3rd. The stock was sold at an average price of $30.30, for a total value of $2,093,245.20. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 634,859 shares of company stock worth $18,360,650. Insiders own 7.00% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of DIOD. State of Alaska Department of Revenue boosted its position in shares of 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 worth $181,000 after purchasing an additional 3,332 shares in the last quarter. Public Employees Retirement System of Ohio boosted its position in shares of 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 worth $210,000 after purchasing an additional 800 shares in the last quarter. Mason Street Advisors LLC boosted its position in shares of Diodes by 5.7% in the 1st quarter. Mason Street Advisors LLC now owns 8,923 shares of the semiconductor company’s stock worth $215,000 after purchasing an additional 481 shares in the last quarter. Virtu KCG Holdings LLC boosted its position in shares of Diodes by 8.0% in the 2nd quarter. Virtu KCG Holdings LLC now owns 10,997 shares of the semiconductor company’s stock worth $264,000 after purchasing an additional 815 shares in the last quarter. Finally, Chicago Equity Partners LLC bought a new stake in shares of Diodes in the 2nd quarter worth approximately $265,000. 73.74% of the stock is currently owned by hedge funds and other institutional investors.
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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