Benchmark Co. lowered shares of Diodes Incorporated (NASDAQ:DIOD) from a buy rating to a hold rating in a research note issued to investors on Monday, Marketbeat reports.
A number of other equities analysts also recently weighed in on DIOD. BidaskClub downgraded shares of Diodes from a hold rating to a sell rating in a research note on Wednesday, July 5th. Zacks Investment Research downgraded shares of Diodes from a strong-buy rating to a hold rating in a research note on Tuesday, July 11th. Cleveland Research downgraded shares of Diodes from a buy rating to a neutral rating in a research note on Thursday, July 20th. Sidoti initiated coverage on shares of Diodes in a research note on Thursday, September 21st. They issued a neutral rating and a $32.00 price target on the stock. Finally, Robert W. Baird reaffirmed a buy rating and issued a $37.00 price target on shares of Diodes in a research note on Tuesday, October 17th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, two have given a buy rating and one has given a strong buy rating to the company. Diodes currently has a consensus rating of Hold and a consensus price target of $35.67.
Diodes (NASDAQ:DIOD) last posted its quarterly earnings results on Tuesday, August 8th. The semiconductor company reported $0.36 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.36. Diodes had a net margin of 2.68% and a return on equity of 5.64%. The business had revenue of $264.20 million for the quarter, compared to the consensus estimate of $261.15 million. During the same period in the prior year, the business posted $0.20 earnings per share. Diodes’s revenue for the quarter was up 11.8% compared to the same quarter last year.
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In related news, major shareholder Semiconductor Corp Lite-On sold 1,184 shares of the company’s stock in a transaction on Friday, August 25th. The shares were sold at an average price of $27.01, for a total value of $31,979.84. Following the completion of the sale, the insider now directly owns 7,879,291 shares in the company, valued at $212,819,649.91. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Clemente Beltran sold 4,993 shares of the company’s stock in a transaction on Friday, October 27th. The stock was sold at an average price of $35.00, for a total transaction of $174,755.00. Following the completion of the sale, the vice president now owns 31,256 shares of the company’s stock, valued at $1,093,960. The disclosure for this sale can be found here. Insiders sold 639,852 shares of company stock valued at $18,535,405 over the last quarter. 7.00% of the stock is currently owned by corporate insiders.
A number of large investors have recently modified their holdings of DIOD. BlackRock Inc. boosted its holdings in 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 purchasing an additional 4,625,794 shares in the last quarter. Numeric Investors LLC boosted its holdings in Diodes by 3,432.0% during the second quarter. Numeric Investors LLC now owns 342,600 shares of the semiconductor company’s stock valued at $8,233,000 after acquiring an additional 332,900 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Diodes by 8.8% during the second quarter. Dimensional Fund Advisors LP now owns 3,247,902 shares of the semiconductor company’s stock valued at $78,048,000 after acquiring an additional 261,522 shares during the period. Marshall Wace North America L.P. bought a new stake in Diodes during the second quarter valued at about $4,078,000. Finally, Martingale Asset Management L P bought a new stake in Diodes during the second quarter valued at about $3,985,000. Hedge funds and other institutional investors own 73.86% of the company’s stock.
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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