Diodes (NASDAQ:DIOD) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Monday.
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 research analysts have also recently issued research reports about the stock. Sidoti upgraded shares of Diodes from a “neutral” rating to a “buy” rating and set a $36.00 target price on the stock in a research note on Thursday, December 14th. They noted that the move was a valuation call. BidaskClub cut shares of Diodes from a “hold” rating to a “sell” rating in a research note on Wednesday, December 6th. Robert W. Baird restated a “buy” rating and set a $37.00 target price on shares of Diodes in a research note on Tuesday, October 17th. ValuEngine cut shares of Diodes from a “buy” rating to a “hold” rating in a research note on Wednesday, November 15th. Finally, Benchmark cut shares of Diodes from a “buy” rating to a “hold” rating in a research note on Monday, October 30th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the stock. Diodes has an average rating of “Hold” and an average price target of $37.00.
Diodes (NASDAQ:DIOD) last released its earnings results on Tuesday, November 7th. The semiconductor company reported $0.45 EPS for the quarter, topping analysts’ consensus estimates of $0.44 by $0.01. Diodes had a net margin of 2.96% and a return on equity of 6.44%. The company had revenue of $285.20 million for the quarter, compared to analysts’ expectations of $281.66 million. During the same quarter last year, the business earned $0.30 EPS. The firm’s revenue was up 13.8% compared to the same quarter last year. equities analysts forecast that Diodes will post 1.35 earnings per share for the current year.
In other news, SVP Mark A. King sold 10,000 shares of Diodes stock in a transaction that occurred on Friday, November 10th. The shares were sold at an average price of $31.79, for a total transaction of $317,900.00. Following the sale, the senior vice president now owns 69,888 shares in the company, valued at $2,221,739.52. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, VP Clemente Beltran sold 4,993 shares of Diodes stock in a transaction that occurred on Friday, October 27th. The shares were sold at an average price of $35.00, for a total transaction of $174,755.00. Following the sale, the vice president now owns 31,256 shares in the company, valued at approximately $1,093,960. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 477,486 shares of company stock worth $14,707,920. 7.00% of the stock is owned by company insiders.
Institutional investors have recently added to or reduced their stakes in the company. Teachers Advisors LLC raised its position in shares of Diodes by 6.3% during the second quarter. Teachers Advisors LLC now owns 68,337 shares of the semiconductor company’s stock valued at $1,642,000 after buying an additional 4,030 shares during the last quarter. Prudential Financial Inc. grew its holdings in shares of Diodes by 30.8% in the third quarter. Prudential Financial Inc. now owns 203,186 shares of the semiconductor company’s stock valued at $6,081,000 after purchasing an additional 47,840 shares in the last quarter. Northern Trust Corp grew its holdings in shares of Diodes by 2.9% in the second quarter. Northern Trust Corp now owns 777,284 shares of the semiconductor company’s stock valued at $18,679,000 after purchasing an additional 21,697 shares in the last quarter. AJO LP purchased a new position in shares of Diodes in the second quarter valued at $1,044,000. Finally, Russell Investments Group Ltd. grew its holdings in shares of Diodes by 75.7% in the second quarter. Russell Investments Group Ltd. now owns 61,043 shares of the semiconductor company’s stock valued at $1,467,000 after purchasing an additional 26,306 shares in the last quarter. Hedge funds and other institutional investors own 74.70% of the company’s stock.
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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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