Zacks Investment Research upgraded shares of Diodes Incorporated (NASDAQ:DIOD) from a hold rating to a buy rating in a research note published on Friday morning. Zacks Investment Research currently has $29.00 target price on the semiconductor company’s stock.
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. “
Other equities analysts also recently issued reports about the company. Robert W. Baird increased their target price on Diodes from $25.00 to $27.00 and gave the stock an outperform rating in a research report on Wednesday, February 15th. Summit Redstone reiterated a sell rating on shares of Diodes in a research report on Saturday, January 21st.
Shares of Diodes (NASDAQ:DIOD) opened at 25.37 on Friday. The firm has a market capitalization of $1.23 billion, a P/E ratio of 67.47 and a beta of 1.16. The company’s 50 day moving average price is $23.86 and its 200-day moving average price is $24.33. Diodes has a 12 month low of $16.75 and a 12 month high of $27.50.
Diodes (NASDAQ:DIOD) last released its earnings results on Tuesday, May 9th. The semiconductor company reported $0.14 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.05 by $0.09. Diodes had a return on equity of 4.44% and a net margin of 1.66%. The firm had revenue of $236.30 million for the quarter, compared to the consensus estimate of $231.03 million. During the same period in the prior year, the business posted $0.12 earnings per share. The firm’s revenue for the quarter was up 6.1% compared to the same quarter last year. On average, equities analysts predict that Diodes will post $1.12 earnings per share for the current fiscal year.
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In related news, VP Francis Tang sold 2,200 shares of the stock in a transaction dated Tuesday, May 16th. The stock was sold at an average price of $26.66, for a total transaction of $58,652.00. Following the transaction, the vice president now directly owns 69,943 shares in the company, valued at $1,864,680.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Keh Shew Lu sold 29,126 shares of the stock in a transaction dated Tuesday, May 16th. The stock was sold at an average price of $26.38, for a total value of $768,343.88. Following the transaction, the chief executive officer now owns 1,095,920 shares in the company, valued at $28,910,369.60. The disclosure for this sale can be found here. Insiders have sold 86,069 shares of company stock worth $2,269,036 over the last quarter. 6.70% of the stock is currently owned by company insiders.
A number of institutional investors have recently added to or reduced their stakes in the company. State of Alaska Department of Revenue increased its position in Diodes by 1.0% in the first quarter. State of Alaska Department of Revenue now owns 4,210 shares of the semiconductor company’s stock valued at $101,000 after buying an additional 40 shares during the period. Envestnet Asset Management Inc. increased its position in Diodes by 3.2% in the fourth quarter. Envestnet Asset Management Inc. now owns 6,452 shares of the semiconductor company’s stock worth $166,000 after buying an additional 198 shares during the period. Mason Street Advisors LLC increased its position in Diodes by 5.7% in the first quarter. Mason Street Advisors LLC now owns 8,923 shares of the semiconductor company’s stock worth $215,000 after buying an additional 481 shares during the period. RBF Capital LLC purchased a new position in Diodes during the third quarter worth approximately $222,000. Finally, Airain ltd purchased a new position in Diodes during the first quarter worth approximately $247,000. Hedge funds and other institutional investors own 75.07% of the company’s stock.
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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