Diodes Incorporated (NASDAQ:DIOD) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a report issued on Tuesday.
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. “
Several other analysts have also recently commented on the stock. Cleveland Research cut shares of Diodes from a “buy” rating to a “neutral” rating in a research note on Thursday, July 20th. BidaskClub downgraded shares of Diodes from a “hold” rating to a “sell” rating in a report on Wednesday, July 5th. Finally, Sidoti began coverage on shares of Diodes in a report on Thursday, September 21st. They set a “neutral” rating and a $32.00 target price for the company. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $30.67.
Shares of Diodes (NASDAQ:DIOD) opened at 32.04 on Tuesday. The stock’s 50 day moving average is $28.70 and its 200-day moving average is $26.04. Diodes has a 1-year low of $19.64 and a 1-year high of $32.18. The stock has a market cap of $1.57 billion, a PE ratio of 60.68 and a beta of 1.26.
Diodes (NASDAQ:DIOD) last announced its quarterly earnings data on Tuesday, August 8th. The semiconductor company reported $0.36 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.36. Diodes had a net margin of 2.68% and a return on equity of 5.64%. The firm had revenue of $264.20 million during the quarter, compared to analysts’ expectations of $261.15 million. During the same quarter last year, the business earned $0.20 earnings per share. The business’s revenue for the quarter was up 11.8% compared to the same quarter last year. On average, analysts predict that Diodes will post $1.28 EPS for the current fiscal year.
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In other Diodes news, CFO Richard Dallas White sold 14,752 shares of the firm’s stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $30.01, for a total transaction of $442,707.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Keh Shew Lu sold 69,983 shares of the firm’s stock in a transaction dated Tuesday, October 10th. The shares were sold at an average price of $31.20, for a total transaction of $2,183,469.60. The disclosure for this sale can be found here. Insiders have sold a total of 604,859 shares of company stock valued at $17,395,650 over the last 90 days. 7.00% of the stock is currently owned by insiders.
A number of large investors have recently bought and sold shares of DIOD. BlackRock Inc. increased its holdings in Diodes by 50,610.4% during the 1st quarter. BlackRock Inc. now owns 4,634,934 shares of the semiconductor company’s stock valued at $111,471,000 after acquiring an additional 4,625,794 shares in the last quarter. Numeric Investors LLC increased its holdings in Diodes by 3,432.0% during the 2nd quarter. Numeric Investors LLC now owns 342,600 shares of the semiconductor company’s stock valued at $8,233,000 after acquiring an additional 332,900 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in Diodes by 8.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,247,902 shares of the semiconductor company’s stock valued at $78,048,000 after acquiring an additional 261,522 shares in the last quarter. Marshall Wace North America L.P. purchased a new position in Diodes during the 2nd quarter valued at about $4,078,000. Finally, Martingale Asset Management L P purchased a new position in Diodes during the 2nd quarter valued at about $3,985,000. Hedge funds and other institutional investors own 73.74% of the company’s stock.
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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