Zacks Investment Research cut shares of Diodes (NASDAQ:DIOD) from a hold rating to a sell rating in a report released on Monday, December 25th.
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 weighed in on DIOD. BidaskClub upgraded shares of Diodes from a sell rating to a hold rating in a research note on Tuesday, December 19th. Sidoti upgraded shares of Diodes from a neutral rating to a buy rating and set a $36.00 target price for the company in a research note on Thursday, December 14th. They noted that the move was a valuation call. Robert W. Baird reiterated a buy rating and set a $37.00 target price on shares of Diodes in a research note on Tuesday, October 17th. Benchmark lowered Diodes from a buy rating to a hold rating in a research note on Monday, October 30th. Finally, ValuEngine lowered Diodes from a buy rating to a hold rating in a research note on Wednesday, November 15th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and a consensus target price of $37.00.
Diodes (NASDAQ:DIOD) opened at $29.92 on Monday. The stock has a market capitalization of $1,470.00, a P/E ratio of 49.87 and a beta of 1.17. Diodes has a 12-month low of $22.06 and a 12-month high of $35.36. The company has a debt-to-equity ratio of 0.34, a current ratio of 3.12 and a quick ratio of 2.18.
Diodes (NASDAQ:DIOD) last released its quarterly earnings data on Tuesday, November 7th. The semiconductor company reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.44 by $0.01. The business had revenue of $285.20 million for the quarter, compared to analysts’ expectations of $281.66 million. Diodes had a return on equity of 6.44% and a net margin of 2.96%. The firm’s quarterly revenue was up 13.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.30 EPS. equities analysts anticipate that Diodes will post 1.35 earnings per share for the current fiscal year.
In other Diodes news, 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 owns 31,256 shares of the company’s stock, valued at approximately $1,093,960. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Semiconductor Corp Lite-On sold 7,247 shares of the stock in a transaction dated Thursday, November 30th. The shares were sold at an average price of $30.36, for a total transaction of $220,018.92. Following the transaction, the insider now directly owns 7,772,425 shares of the company’s stock, valued at approximately $235,970,823. The disclosure for this sale can be found here. Insiders sold a total of 141,071 shares of company stock valued at $4,429,570 in the last quarter. 7.00% of the stock is currently owned by company insiders.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Arizona State Retirement System boosted its holdings in shares of Diodes by 0.5% during the 2nd quarter. Arizona State Retirement System now owns 19,975 shares of the semiconductor company’s stock valued at $480,000 after purchasing an additional 100 shares during the last quarter. Virtu KCG Holdings LLC boosted its holdings in shares of Diodes by 8.0% during the 2nd quarter. Virtu KCG Holdings LLC now owns 10,997 shares of the semiconductor company’s stock valued at $264,000 after purchasing an additional 815 shares during the last quarter. Thrivent Financial For Lutherans lifted its holdings in shares of Diodes by 6.5% in the 2nd quarter. Thrivent Financial For Lutherans now owns 23,220 shares of the semiconductor company’s stock valued at $558,000 after acquiring an additional 1,410 shares during the last quarter. Rhumbline Advisers lifted its holdings in shares of Diodes by 1.9% in the 3rd quarter. Rhumbline Advisers now owns 78,821 shares of the semiconductor company’s stock valued at $2,359,000 after acquiring an additional 1,434 shares during the last quarter. Finally, Voya Investment Management LLC lifted its holdings in shares of Diodes by 10.0% in the 2nd quarter. Voya Investment Management LLC now owns 18,133 shares of the semiconductor company’s stock valued at $436,000 after acquiring an additional 1,649 shares during the last quarter. 74.70% of the stock is owned by institutional investors and hedge funds.
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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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