Diodes (NASDAQ:DIOD) was upgraded by Zacks Investment Research from a "sell" rating to a "hold" rating in a note issued to investors on Tuesday, Zacks.com reports.
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 also recently commented on DIOD. Robert W. Baird raised Diodes from a "neutral" rating to an "outperform" rating and set a $50.00 price objective for the company in a research report on Friday, April 17th. Cowen assumed coverage on Diodes in a research report on Thursday, May 21st. They set an "outperform" rating and a $57.00 price objective for the company. Loop Capital assumed coverage on Diodes in a report on Tuesday, May 26th. They issued a "buy" rating and a $56.00 price target for the company. Wells Fargo & Co lowered their price target on Diodes from $64.00 to $55.00 and set an "overweight" rating for the company in a report on Thursday, March 19th. Finally, BidaskClub downgraded Diodes from a "buy" rating to a "hold" rating in a report on Saturday, May 9th. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Diodes currently has a consensus rating of "Buy" and a consensus target price of $54.00.
NASDAQ:DIOD traded up $0.73 on Tuesday, reaching $49.51. 259,300 shares of the company's stock were exchanged, compared to its average volume of 362,889. Diodes has a 52-week low of $31.51 and a 52-week high of $59.70. The firm has a market capitalization of $2.54 billion, a price-to-earnings ratio of 18.27 and a beta of 1.33. The company has a quick ratio of 2.14, a current ratio of 3.02 and a debt-to-equity ratio of 0.04. The business has a fifty day moving average of $48.77 and a 200-day moving average of $48.52.
Diodes (NASDAQ:DIOD) last announced its quarterly earnings data on Monday, May 11th. The semiconductor company reported $0.46 EPS for the quarter, missing the Zacks' consensus estimate of $0.48 by ($0.02). Diodes had a return on equity of 12.52% and a net margin of 11.54%. The company had revenue of $280.70 million for the quarter, compared to analyst estimates of $286.00 million. During the same period in the prior year, the firm posted $0.69 earnings per share. The business's quarterly revenue was down 7.1% compared to the same quarter last year. As a group, equities analysts anticipate that Diodes will post 2.12 earnings per share for the current year.
In other news, VP Julie Holland sold 2,000 shares of the stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $50.50, for a total value of $101,000.00. Following the completion of the sale, the vice president now directly owns 73,456 shares of the company's stock, valued at $3,709,528. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director C H. Chen sold 30,000 shares of the stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $50.50, for a total value of $1,515,000.00. Following the completion of the sale, the director now directly owns 134,379 shares of the company's stock, valued at $6,786,139.50. The disclosure for this sale can be found here. Insiders sold 104,327 shares of company stock valued at $5,325,432 over the last three months. Corporate insiders own 4.60% of the company's stock.
Hedge funds have recently bought and sold shares of the company. Meeder Asset Management Inc. purchased a new stake in shares of Diodes during the first quarter worth approximately $31,000. Private Capital Group LLC raised its stake in shares of Diodes by 115.7% during the first quarter. Private Capital Group LLC now owns 990 shares of the semiconductor company's stock worth $40,000 after purchasing an additional 531 shares during the last quarter. Point72 Hong Kong Ltd purchased a new stake in shares of Diodes during the fourth quarter worth approximately $68,000. Squar Milner Financial Services LLC raised its stake in shares of Diodes by 19.0% during the first quarter. Squar Milner Financial Services LLC now owns 2,229 shares of the semiconductor company's stock worth $90,000 after purchasing an additional 356 shares during the last quarter. Finally, PNC Financial Services Group Inc. raised its stake in shares of Diodes by 23.5% during the fourth quarter. PNC Financial Services Group Inc. now owns 2,408 shares of the semiconductor company's stock worth $137,000 after purchasing an additional 458 shares during the last quarter. 79.94% of the stock is owned by institutional investors and hedge funds.
Diodes Incorporated, together with its subsidiaries, designs, manufactures, and supplies application-specific standard products in the discrete, logic, and analog and mixed-signal semiconductor markets in Asia, North America, and Europe. It primarily focuses on low pin count semiconductor devices with one or more active or passive components.
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