BidaskClub upgraded shares of Diodes Incorporated (NASDAQ:DIOD) from a sell rating to a hold rating in a report published on Monday, July 24th.
A number of other research firms have also issued reports on DIOD. Cleveland Research lowered Diodes from a buy rating to a neutral rating in a report on Thursday, July 20th. Robert W. Baird reaffirmed an outperform rating and set a $30.00 target price on shares of Diodes in a report on Friday, June 9th. Finally, Zacks Investment Research raised Diodes from a hold rating to a buy rating and set a $29.00 price target on the stock in a research note on Friday, May 12th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company’s stock. The company has a consensus rating of Hold and a consensus target price of $30.00.
Shares of Diodes (DIOD) opened at 26.48 on Monday. The stock has a market capitalization of $1.30 billion, a PE ratio of 50.15 and a beta of 1.22. The firm has a 50-day moving average of $26.01 and a 200 day moving average of $24.99. Diodes has a 52-week low of $19.39 and a 52-week high of $27.51.
Diodes (NASDAQ:DIOD) last released its earnings results on Tuesday, August 8th. The semiconductor company reported $0.36 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.36. The firm had revenue of $264.20 million for the quarter, compared to analyst estimates of $261.15 million. Diodes had a return on equity of 5.64% and a net margin of 2.68%. Diodes’s revenue was up 11.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.20 earnings per share. Equities research analysts forecast that Diodes will post $1.28 EPS for the current fiscal year.
In other news, major shareholder Semiconductor Corp Lite-On sold 116,209 shares of Diodes stock in a transaction dated 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 sale, the insider now directly owns 8,045,778 shares in the company, valued at approximately $216,833,717.10. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Francis Tang sold 2,365 shares of Diodes stock in a transaction dated Tuesday, May 30th. The shares were sold at an average price of $25.89, for a total value of $61,229.85. Following the sale, the vice president now owns 67,631 shares of the company’s stock, valued at $1,750,966.59. The disclosure for this sale can be found here. Insiders have sold a total of 322,706 shares of company stock valued at $8,501,516 over the last 90 days. Corporate insiders own 6.70% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the stock. BlackRock Inc. increased its position in shares of Diodes by 50,610.4% in the first quarter. BlackRock Inc. now owns 4,634,934 shares of the semiconductor company’s stock worth $111,471,000 after buying an additional 4,625,794 shares during the last quarter. Norges Bank bought a new position in shares of Diodes during the fourth quarter worth $27,794,000. Numeric Investors LLC increased its position in shares of Diodes by 3,432.0% in the second quarter. Numeric Investors LLC now owns 342,600 shares of the semiconductor company’s stock worth $8,233,000 after buying an additional 332,900 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Diodes by 8.8% in the second quarter. Dimensional Fund Advisors LP now owns 3,247,902 shares of the semiconductor company’s stock worth $78,048,000 after buying an additional 261,522 shares during the last quarter. Finally, Marshall Wace North America L.P. bought a new position in shares of Diodes during the second quarter worth $4,078,000. 74.16% of the stock is currently owned by institutional investors and hedge funds.
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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