Diodes Incorporated (NASDAQ:DIOD) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a report issued 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 previous close.
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. “
DIOD has been the subject of several other reports. Robert W. Baird reissued a “buy” rating and set a $37.00 price target on shares of Diodes in a report on Tuesday. BidaskClub cut shares of Diodes from a “hold” rating to a “sell” rating in a report on Wednesday, July 5th. Sidoti began coverage on shares of Diodes in a report on Thursday, September 21st. They issued a “neutral” rating and a $32.00 target price for the company. Finally, Cleveland Research cut shares of Diodes from a “buy” rating to a “neutral” rating in a report on Thursday, July 20th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $35.67.
Shares of Diodes (DIOD) traded down 0.58% during trading on Tuesday, hitting $32.63. The company had a trading volume of 267,955 shares. The stock’s 50-day moving average is $29.09 and its 200 day moving average is $26.18. The firm has a market capitalization of $1.60 billion, a P/E ratio of 61.80 and a beta of 1.26. Diodes has a 52-week low of $19.64 and a 52-week high of $33.12.
Diodes (NASDAQ:DIOD) last posted its quarterly earnings results on Tuesday, August 8th. The semiconductor company reported $0.36 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.36. The firm had revenue of $264.20 million during the quarter, compared to analysts’ expectations of $261.15 million. Diodes had a net margin of 2.68% and a return on equity of 5.64%. The firm’s revenue for the quarter was up 11.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.20 earnings per share. Equities research analysts predict that Diodes will post $1.31 earnings per share for the current fiscal year.
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In other Diodes news, CEO Keh Shew Lu sold 20,000 shares of the stock in a transaction dated Friday, October 13th. The shares were sold at an average price of $32.25, for a total value of $645,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Semiconductor Corp Lite-On sold 21,193 shares of the stock in a transaction dated Tuesday, August 22nd. The shares were sold at an average price of $26.51, for a total transaction of $561,826.43. Following the completion of the transaction, the insider now directly owns 7,929,701 shares of the company’s stock, valued at $210,216,373.51. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 634,859 shares of company stock valued at $18,360,650. 7.00% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently modified their holdings of the business. Dynamic Technology Lab Private Ltd increased its holdings in Diodes by 58.3% in the second quarter. Dynamic Technology Lab Private Ltd now owns 20,950 shares of the semiconductor company’s stock valued at $504,000 after buying an additional 7,714 shares in the last quarter. Sterling Capital Management LLC purchased a new position in Diodes in the second quarter valued at about $851,000. Arrowstreet Capital Limited Partnership increased its holdings in Diodes by 324.7% in the second quarter. Arrowstreet Capital Limited Partnership now owns 125,700 shares of the semiconductor company’s stock valued at $3,021,000 after buying an additional 96,100 shares in the last quarter. Cubist Systematic Strategies LLC purchased a new position in Diodes in the second quarter valued at about $587,000. Finally, State Street Corp increased its holdings in Diodes by 4.8% in the second quarter. State Street Corp now owns 1,022,899 shares of the semiconductor company’s stock valued at $24,572,000 after buying an additional 46,506 shares in the last quarter. 73.74% of the stock is owned by 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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