Diodes (DIOD) Downgraded by BidaskClub to Sell
Diodes (NASDAQ:DIOD) was downgraded by equities researchers at BidaskClub from a “hold” rating to a “sell” rating in a report released on Wednesday.
Several other equities research analysts have also weighed in on the company. ValuEngine lowered Diodes from a “buy” rating to a “hold” rating in a report on Wednesday, November 15th. Benchmark lowered Diodes from a “buy” rating to a “hold” rating in a report on Monday, October 30th. Zacks Investment Research raised Diodes from a “hold” rating to a “strong-buy” rating and set a $38.00 price objective for the company in a report on Tuesday, October 17th. Robert W. Baird reissued a “buy” rating and issued a $37.00 price objective on shares of Diodes in a report on Tuesday, October 17th. Finally, Sidoti began coverage on Diodes in a report on Thursday, September 21st. They issued a “neutral” rating and a $32.00 price objective for the company. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. Diodes currently has a consensus rating of “Hold” and a consensus price target of $35.67.
Shares of Diodes (NASDAQ DIOD) traded down $0.27 during trading on Wednesday, hitting $28.21. The stock had a trading volume of 286,368 shares, compared to its average volume of 324,176. Diodes has a 1 year low of $22.06 and a 1 year high of $35.36. The stock has a market cap of $1,393.29, a price-to-earnings ratio of 25.65 and a beta of 1.15. The company has a current ratio of 3.12, a quick ratio of 2.18 and a debt-to-equity ratio of 0.34.
In other Diodes news, CEO Keh Shew Lu sold 69,084 shares of the firm’s stock in a transaction dated Tuesday, October 3rd. The stock was sold at an average price of $30.30, for a total value of $2,093,245.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Semiconductor Corp Lite-On sold 1,379 shares of the firm’s stock in a transaction dated Friday, November 10th. The stock was sold at an average price of $32.00, for a total value of $44,128.00. The disclosure for this sale can be found here. In the last three months, insiders sold 477,486 shares of company stock valued at $14,707,920. 7.00% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of DIOD. Russell Investments Group Ltd. boosted its stake in Diodes by 552.8% in the 3rd quarter. Russell Investments Group Ltd. now owns 398,514 shares of the semiconductor company’s stock worth $11,927,000 after purchasing an additional 337,471 shares during the period. Numeric Investors LLC boosted its stake in Diodes by 3,432.0% in the 2nd quarter. Numeric Investors LLC now owns 342,600 shares of the semiconductor company’s stock worth $8,233,000 after purchasing an additional 332,900 shares during the period. Dimensional Fund Advisors LP boosted its stake in Diodes by 8.8% in 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. Marshall Wace North America L.P. bought a new position in Diodes in the 2nd quarter worth about $4,078,000. Finally, Martingale Asset Management L P bought a new position in Diodes in the 2nd quarter worth about $3,985,000. Institutional investors and hedge funds own 74.74% of the company’s stock.
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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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