Diodes (DIOD) Stock Rating Lowered by Zacks Investment Research
Diodes (NASDAQ:DIOD) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a report issued 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 research analysts have also issued research reports about the stock. Sidoti upgraded shares of Diodes from a “neutral” rating to a “buy” rating and set a $36.00 price target for the company in a report on Thursday, December 14th. They noted that the move was a valuation call. Robert W. Baird restated a “buy” rating and set a $37.00 price target 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 analyst has rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $37.00.
Diodes (NASDAQ:DIOD) last released its quarterly earnings results on Tuesday, November 7th. The semiconductor company reported $0.45 earnings per share (EPS) for the quarter, topping the 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 quarter last year, the business earned $0.30 EPS. The company’s revenue was up 13.8% compared to the same quarter last year. analysts predict that Diodes will post 1.35 earnings per share for the current year.
In other news, VP Francis Tang sold 3,800 shares of Diodes stock in a transaction on Wednesday, September 27th. The shares were sold at an average price of $29.67, for a total value of $112,746.00. Following the completion of the sale, the vice president now owns 66,072 shares in the company, valued at approximately $1,960,356.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Semiconductor Corp Lite-On sold 7,247 shares of Diodes stock in a transaction 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 completion of the sale, the insider now 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. In the last 90 days, insiders have sold 477,486 shares of company stock valued at $14,707,920. Company insiders own 7.00% of the company’s stock.
Several large investors have recently added to or reduced their stakes in the company. Arizona State Retirement System increased its stake in shares of Diodes by 0.5% in the 2nd quarter. Arizona State Retirement System now owns 19,975 shares of the semiconductor company’s stock valued at $480,000 after acquiring an additional 100 shares in the last quarter. Texas Permanent School Fund increased its stake in shares of Diodes by 1.0% in the 2nd quarter. Texas Permanent School Fund now owns 27,901 shares of the semiconductor company’s stock valued at $670,000 after acquiring an additional 274 shares in the last quarter. Virtu KCG Holdings LLC increased its stake in shares of Diodes by 8.0% in the 2nd quarter. Virtu KCG Holdings LLC now owns 10,997 shares of the semiconductor company’s stock valued at $264,000 after acquiring an additional 815 shares in the last quarter. Thrivent Financial For Lutherans increased its stake 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 in the last quarter. Finally, Rhumbline Advisers increased its stake 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 in the last quarter. Institutional investors own 74.70% of the company’s stock.
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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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