Zacks Investment Research upgraded shares of Diodes (NASDAQ:DIOD) from a hold rating to a strong-buy rating in a research note issued to investors on Friday morning. The firm currently has $41.00 price objective on the semiconductor company’s stock.
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 equities research analysts have also issued reports on the stock. ValuEngine upgraded shares of Diodes from a sell rating to a hold rating in a research note on Sunday, October 14th. Sidoti upgraded shares of Diodes from a neutral rating to a buy rating in a research note on Wednesday, September 19th. Finally, BidaskClub lowered shares of Diodes from a sell rating to a strong sell rating in a research note on Saturday, September 15th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of Buy and a consensus target price of $38.75.
Shares of Diodes stock traded down $1.20 during trading on Friday, reaching $34.40. The company had a trading volume of 413,452 shares, compared to its average volume of 433,340. The firm has a market cap of $1.77 billion, a PE ratio of 25.11 and a beta of 1.06. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.66 and a current ratio of 2.47. Diodes has a fifty-two week low of $26.09 and a fifty-two week high of $39.31.
Diodes (NASDAQ:DIOD) last issued its earnings results on Tuesday, November 6th. The semiconductor company reported $0.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.63 by $0.05. The business had revenue of $320.90 million for the quarter, compared to analyst estimates of $321.48 million. Diodes had a net margin of 3.75% and a return on equity of 11.99%. The company’s revenue for the quarter was up 12.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.45 EPS. On average, equities analysts predict that Diodes will post 2.17 earnings per share for the current year.
In related news, CFO Richard Dallas White sold 13,000 shares of the stock in a transaction dated Thursday, August 30th. The shares were sold at an average price of $37.88, for a total transaction of $492,440.00. Following the sale, the chief financial officer now owns 111,920 shares in the company, valued at $4,239,529.60. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Keh Shew Lu sold 48,248 shares of the stock in a transaction dated Monday, August 27th. The stock was sold at an average price of $38.32, for a total transaction of $1,848,863.36. Following the sale, the chief executive officer now owns 620,304 shares in the company, valued at approximately $23,770,049.28. The disclosure for this sale can be found here. In the last quarter, insiders have sold 88,147 shares of company stock worth $3,363,504. 6.70% of the stock is owned by company insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Meeder Asset Management Inc. acquired a new stake in Diodes during the third quarter worth about $189,000. Amalgamated Bank acquired a new stake in Diodes during the second quarter worth about $205,000. Fox Run Management L.L.C. acquired a new stake in Diodes during the second quarter worth about $208,000. Meadow Creek Investment Management LLC raised its stake in Diodes by 31.0% during the second quarter. Meadow Creek Investment Management LLC now owns 7,224 shares of the semiconductor company’s stock worth $249,000 after acquiring an additional 1,708 shares during the period. Finally, Verition Fund Management LLC acquired a new stake in Diodes during the second quarter worth about $259,000. Hedge funds and other institutional investors own 75.96% of the company’s stock.
Diodes Incorporated, together with its subsidiaries, designs, manufactures, and supplies application-specific standard products in the discrete, logic, and analog and mixed semiconductor markets in Asia, North America, Europe, and internationally. It primarily focuses on low pin count semiconductor devices with one or more active or passive components.
See Also: Beta
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Diodes Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Diodes and related companies with MarketBeat.com's FREE daily email newsletter.