Diodes Incorporated (DIOD) Trading Up -0.2% on Analyst Upgrade
Shares of Diodes Incorporated (NASDAQ:DIOD) traded up 0.2% during trading on Thursday after Zacks Investment Research upgraded the stock from a strong sell rating to a hold rating. The stock traded as high as $26.22 and last traded at $25.66, with a volume of 63,264 shares traded. The stock had previously closed at $25.71.
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. “
DIOD has been the topic of several other research reports. Summit Redstone reaffirmed a “buy” rating on shares of Diodes in a research report on Thursday, December 1st. TheStreet raised shares of Diodes from a “hold” rating to a “buy” rating in a research report on Monday, November 28th. Finally, Robert W. Baird reaffirmed an “outperform” rating and set a $25.00 price objective on shares of Diodes in a research report on Friday, November 11th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company. Diodes currently has a consensus rating of “Hold” and a consensus target price of $23.00.
In related news, Director John M. Stich sold 1,761 shares of the firm’s stock in a transaction that occurred on Tuesday, December 13th. The shares were sold at an average price of $26.01, for a total transaction of $45,803.61. Following the transaction, the director now owns 35,700 shares of the company’s stock, valued at $928,557. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director John M. Stich sold 3,239 shares of the firm’s stock in a transaction that occurred on Friday, December 9th. The shares were sold at an average price of $25.95, for a total transaction of $84,052.05. Following the transaction, the director now directly owns 35,700 shares in the company, valued at approximately $926,415. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 8,200 shares of company stock worth $208,626. Insiders own 6.70% of the company’s stock.
A number of institutional investors have recently modified their holdings of DIOD. Teacher Retirement System of Texas raised its position in shares of Diodes by 20.1% in the second quarter. Teacher Retirement System of Texas now owns 5,721 shares of the company’s stock valued at $107,000 after buying an additional 958 shares during the last quarter. Envestnet Asset Management Inc. raised its position in shares of Diodes by 3.2% in the fourth quarter. Envestnet Asset Management Inc. now owns 6,452 shares of the company’s stock valued at $166,000 after buying an additional 198 shares during the last quarter. RGT Capital Management Ltd. acquired a new position in shares of Diodes during the third quarter valued at $213,000. RBF Capital LLC acquired a new position in shares of Diodes during the third quarter valued at $222,000. Finally, Capstone Asset Management Co. raised its position in shares of Diodes by 0.4% in the third quarter. Capstone Asset Management Co. now owns 11,146 shares of the company’s stock valued at $238,000 after buying an additional 40 shares during the last quarter. 75.07% of the stock is currently owned by hedge funds and other institutional investors.
The firm has a market cap of $1.27 billion, a PE ratio of 80.53 and a beta of 1.16. The firm’s 50-day moving average is $25.36 and its 200 day moving average is $22.50.
Diodes (NASDAQ:DIOD) last announced its quarterly earnings data on Tuesday, February 14th. The company reported $0.15 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.15. The firm earned $232.10 million during the quarter, compared to analysts’ expectations of $230.35 million. Diodes had a return on equity of 4.44% and a net margin of 1.66%. The company’s quarterly revenue was up 8.3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.14 EPS. On average, equities research analysts expect that Diodes Incorporated will post $1.12 EPS for the current year.
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Diodes Company Profile
Diodes Incorporated is a global 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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