Diodes (NASDAQ:DIOD) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Friday. The brokerage presently has a $31.00 price target on the semiconductor company’s stock. Zacks Investment Research‘s price objective would suggest a potential upside of 6.09% from the company’s current price.
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 brokerages have also recently issued reports on DIOD. Benchmark raised shares of Diodes from a “hold” rating to a “buy” rating and set a $34.00 price objective on the stock in a research note on Thursday. BidaskClub raised shares of Diodes from a “sell” rating to a “hold” rating in a research note on Tuesday, December 19th. Sidoti raised shares of Diodes from a “neutral” rating to a “buy” rating and set a $36.00 price objective on the stock in a research note on Thursday, December 14th. They noted that the move was a valuation call. Robert W. Baird reissued a “buy” rating and issued a $37.00 target price on shares of Diodes in a research report on Tuesday, October 17th. Finally, ValuEngine downgraded shares of Diodes from a “buy” rating to a “hold” rating in a research report on Wednesday, November 15th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $34.50.
Diodes (NASDAQ:DIOD) last announced its quarterly earnings data on Wednesday, February 7th. The semiconductor company reported $0.42 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.40 by $0.02. The company had revenue of $268.43 million for the quarter, compared to analysts’ expectations of $270.62 million. Diodes had a negative net margin of 0.17% and a positive return on equity of 7.96%. The business’s revenue was up 15.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.15 EPS. equities research analysts forecast that Diodes will post 1.8 earnings per share for the current fiscal year.
In related news, SVP Mark A. King sold 10,169 shares of the business’s stock in a transaction that occurred on Monday, November 13th. The shares were sold at an average price of $31.80, for a total transaction of $323,374.20. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, major shareholder Semiconductor Corp Lite-On sold 7,247 shares of the business’s stock in a transaction that occurred on 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 in the company, valued at $235,970,823. The disclosure for this sale can be found here. Over the last three months, insiders sold 124,699 shares of company stock worth $3,892,787. 7.00% of the stock is currently owned by insiders.
Institutional investors and hedge funds have recently made changes to their positions in the stock. SG Americas Securities LLC purchased a new position in Diodes during the third quarter valued at approximately $167,000. Crossmark Global Holdings Inc. purchased a new position in Diodes during the third quarter valued at approximately $206,000. Piedmont Investment Advisors LLC purchased a new position in Diodes during the third quarter valued at approximately $250,000. Virtu KCG Holdings LLC grew its position in Diodes by 8.0% during the second 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 in the last quarter. Finally, Capital One National Association purchased a new position in Diodes during the fourth quarter valued at approximately $354,000. 74.74% of the stock is currently owned by hedge funds and other 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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