Diodes Incorporated (NASDAQ:DIOD) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a report released on Tuesday, October 17th. The firm presently has a $38.00 price target on the semiconductor company’s stock. Zacks Investment Research‘s target price suggests a potential upside of 9.57% from the stock’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. “
A number of other brokerages have also recently commented on DIOD. Robert W. Baird reaffirmed a “buy” rating and issued a $37.00 target price on shares of Diodes in a report on Tuesday, October 17th. Sidoti began coverage on shares of Diodes in a report on Thursday, September 21st. They set a “neutral” rating and a $32.00 price target for the company. Cleveland Research cut shares of Diodes from a “buy” rating to a “neutral” rating in a report on Thursday, July 20th. Finally, BidaskClub raised shares of Diodes from a “sell” rating to a “hold” rating in a report on Monday, July 24th. One research 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’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $35.67.
Diodes (NASDAQ:DIOD) traded up $0.03 during trading on Tuesday, hitting $34.51. 96,441 shares of the stock traded hands, compared to its average volume of 317,226. The company has a quick ratio of 2.54, a current ratio of 3.49 and a debt-to-equity ratio of 0.44. The firm has a market capitalization of $1,692.05, a PE ratio of 36.29 and a beta of 1.23.
Diodes (NASDAQ:DIOD) last announced its earnings results on Tuesday, August 8th. The semiconductor company reported $0.36 EPS for the quarter, meeting analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $261.15 million. During the same period in the prior year, the company earned $0.20 earnings per share. The business’s revenue was up 11.8% compared to the same quarter last year. equities research analysts forecast that Diodes will post 1.4 EPS for the current year.
In other Diodes news, major shareholder Semiconductor Corp Lite-On sold 116,209 shares of the stock in a transaction dated Wednesday, August 16th. The shares were sold at an average price of $26.95, for a total value of $3,131,832.55. Following the completion of the transaction, the insider now directly owns 8,045,778 shares of the company’s stock, valued at $216,833,717.10. The sale was disclosed in a filing with the SEC, which is available at this link. Also, VP Clemente Beltran sold 4,993 shares of the stock in a transaction dated Friday, October 27th. The shares were sold at an average price of $35.00, for a total transaction of $174,755.00. Following the completion of the transaction, the vice president now directly owns 31,256 shares of the company’s stock, valued at $1,093,960. The disclosure for this sale can be found here. Insiders have sold 639,852 shares of company stock valued at $18,535,405 over the last three months. 7.00% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently modified their holdings of DIOD. Russell Investments Group Ltd. increased its holdings in Diodes by 28.5% in the first quarter. Russell Investments Group Ltd. now owns 34,737 shares of the semiconductor company’s stock valued at $835,000 after buying an additional 7,700 shares in the last quarter. First Trust Advisors LP increased its holdings in Diodes by 50.0% in the first quarter. First Trust Advisors LP now owns 59,728 shares of the semiconductor company’s stock valued at $1,436,000 after buying an additional 19,911 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in Diodes by 10.6% in the first quarter. Bank of New York Mellon Corp now owns 491,649 shares of the semiconductor company’s stock valued at $11,825,000 after buying an additional 47,034 shares in the last quarter. Comerica Bank increased its holdings in Diodes by 2.8% in the first quarter. Comerica Bank now owns 42,209 shares of the semiconductor company’s stock valued at $1,019,000 after buying an additional 1,138 shares in the last quarter. Finally, Mason Street Advisors LLC grew its position in shares of Diodes by 5.7% in the first quarter. Mason Street Advisors LLC now owns 8,923 shares of the semiconductor company’s stock valued at $215,000 after purchasing an additional 481 shares during the last quarter. 73.58% of the stock is owned by institutional investors.
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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