Diodes Incorporated (NASDAQ:DIOD) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Friday, May 12th. The brokerage presently has a $29.00 target price on the semiconductor company’s stock. Zacks Investment Research‘s price target points to a potential upside of 15.40% 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. “
Other research analysts have also recently issued reports about the stock. Robert W. Baird raised their price objective on shares of Diodes from $25.00 to $27.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 15th. Summit Redstone restated a “sell” rating on shares of Diodes in a research report on Saturday, January 21st.
Diodes (NASDAQ:DIOD) traded down 2.71% during trading on Friday, hitting $25.13. The stock had a trading volume of 373,908 shares. Diodes has a 52-week low of $16.92 and a 52-week high of $27.50. The company has a market cap of $1.22 billion, a price-to-earnings ratio of 66.84 and a beta of 1.14. The firm’s 50-day moving average price is $25.29 and its 200-day moving average price is $24.88.
Diodes (NASDAQ:DIOD) last issued its earnings results on Tuesday, May 9th. The semiconductor company reported $0.14 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.05 by $0.09. Diodes had a net margin of 1.98% and a return on equity of 4.72%. The company had revenue of $236.30 million during the quarter, compared to analysts’ expectations of $231.03 million. During the same period last year, the company posted $0.12 earnings per share. The firm’s quarterly revenue was up 6.1% compared to the same quarter last year. Analysts predict that Diodes will post $1.16 EPS for the current fiscal year.
In related news, CEO Keh Shew Lu sold 93,765 shares of Diodes stock in a transaction on Tuesday, May 30th. The shares were sold at an average price of $26.15, for a total transaction of $2,451,954.75. Following the transaction, the chief executive officer now owns 1,134,291 shares in the company, valued at approximately $29,661,709.65. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Francis Tang sold 6,639 shares of Diodes stock in a transaction on Wednesday, May 10th. The shares were sold at an average price of $26.50, for a total transaction of $175,933.50. Following the transaction, the vice president now owns 76,577 shares in the company, valued at approximately $2,029,290.50. The disclosure for this sale can be found here. In the last quarter, insiders sold 294,005 shares of company stock worth $7,702,554. 6.70% of the stock is owned by company insiders.
Large investors have recently added to or reduced their stakes in the company. BlackRock Inc. increased its stake in Diodes by 50,610.4% in the first quarter. BlackRock Inc. now owns 4,634,934 shares of the semiconductor company’s stock valued at $111,471,000 after buying an additional 4,625,794 shares during the period. Vanguard Group Inc. increased its stake in Diodes by 5.2% in the first quarter. Vanguard Group Inc. now owns 3,356,058 shares of the semiconductor company’s stock valued at $80,713,000 after buying an additional 165,243 shares during the period. Dimensional Fund Advisors LP increased its stake in Diodes by 7.9% in the first quarter. Dimensional Fund Advisors LP now owns 2,986,380 shares of the semiconductor company’s stock valued at $71,822,000 after buying an additional 219,293 shares during the period. BlackRock Fund Advisors increased its stake in Diodes by 8.4% in the third quarter. BlackRock Fund Advisors now owns 2,715,098 shares of the semiconductor company’s stock valued at $57,940,000 after buying an additional 210,920 shares during the period. Finally, Norges Bank purchased a new stake in Diodes during the fourth quarter valued at about $27,794,000. 75.51% of the stock is currently owned by hedge funds and other institutional investors.
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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