Zacks Investment Research cut shares of Diodes (NASDAQ:DIOD) from a strong-buy rating to a hold rating in a research note published on Monday.
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. “
Other equities analysts have also issued reports about the stock. 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 report 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 report on Tuesday, October 17th. BidaskClub lowered shares of Diodes from a hold rating to a sell rating in a report on Wednesday, December 6th. ValuEngine lowered shares of Diodes from a buy rating to a hold rating in a report on Wednesday, November 15th. Finally, Benchmark lowered shares of Diodes from a buy rating to a hold rating in a report on Monday, October 30th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company’s stock. The company currently has a consensus rating of Hold and a consensus price target of $37.00.
Diodes (NASDAQ:DIOD) last released its earnings results on Tuesday, November 7th. The semiconductor company reported $0.45 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.44 by $0.01. Diodes had a net margin of 2.96% and a return on equity of 6.44%. The firm had revenue of $285.20 million during the quarter, compared to analyst estimates of $281.66 million. During the same period last year, the business earned $0.30 earnings per share. The business’s revenue was up 13.8% on a year-over-year basis. equities analysts anticipate that Diodes will post 1.35 EPS for the current fiscal year.
In related news, Director C H. Chen sold 30,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 27th. The shares were sold at an average price of $29.25, for a total transaction of $877,500.00. Following the completion of the sale, the director now owns 479,979 shares of the company’s stock, valued at $14,039,385.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Clemente Beltran sold 4,993 shares of the firm’s stock in a transaction that occurred on Friday, October 27th. The shares were sold at an average price of $35.00, for a total transaction of $174,755.00. Following the sale, the vice president now directly owns 31,256 shares of the company’s stock, valued at approximately $1,093,960. The disclosure for this sale can be found here. Insiders have sold 477,486 shares of company stock valued at $14,707,920 over the last quarter. Company insiders own 7.00% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in DIOD. Teachers Advisors LLC increased its position in shares of Diodes by 3.2% during the first quarter. Teachers Advisors LLC now owns 64,307 shares of the semiconductor company’s stock valued at $1,547,000 after acquiring an additional 2,004 shares in the last quarter. Aperio Group LLC bought a new stake in shares of Diodes during the second quarter valued at approximately $368,000. Russell Investments Group Ltd. increased its position in shares of Diodes by 75.7% during the second quarter. Russell Investments Group Ltd. now owns 61,043 shares of the semiconductor company’s stock valued at $1,467,000 after acquiring an additional 26,306 shares in the last quarter. Great West Life Assurance Co. Can grew its position in Diodes by 3.8% in the 2nd quarter. Great West Life Assurance Co. Can now owns 55,890 shares of the semiconductor company’s stock worth $1,343,000 after purchasing an additional 2,026 shares during the period. Finally, Texas Permanent School Fund grew its position in Diodes by 1.0% in the 2nd quarter. Texas Permanent School Fund now owns 27,901 shares of the semiconductor company’s stock worth $670,000 after purchasing an additional 274 shares during the period. 74.70% 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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