Diodes (NASDAQ:DIOD) Stock Rating Upgraded by Zacks Research

Diodes (NASDAQ:DIOD) was upgraded by analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a report released on Tuesday, Zacks reports.

Several other equities research analysts have also commented on the company. Bank of America initiated coverage on Diodes in a research report on Tuesday, October 6th. They set a “buy” rating and a $135.00 target price on the stock. Robert W. Baird set a $192.00 target price on Diodes in a report on Thursday, August 6th. Weiss Ratings reissued a “hold (c)” rating on shares of Diodes in a research note on Tuesday, October 13th. Wall Street Zen raised Diodes from a “buy” rating to a “strong-buy” rating in a research note on Saturday, October 24th. Finally, Wells Fargo & Company set a $135.00 price target on Diodes in a report on Tuesday, October 6th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $129.17.

Diodes Price Performance

DIOD stock opened at $91.27 on Tuesday. The firm has a market cap of $4.17 billion, a price-to-earnings ratio of 36.65 and a beta of 1.96. The company has a quick ratio of 2.02, a current ratio of 3.07 and a debt-to-equity ratio of 0.19. Diodes has a 12-month low of $42.28 and a 12-month high of $125.99. The company’s fifty day simple moving average is $90.00 and its 200 day simple moving average is $88.39.

Diodes (NASDAQ:DIOD) last issued its quarterly earnings results on Thursday, November 5th. The semiconductor company reported $1.18 earnings per share for the quarter, topping analysts’ consensus estimates of $1.05 by $0.13. Diodes had a return on equity of 6.17% and a net margin of 6.51%. The firm had revenue of $532.59 million during the quarter, compared to the consensus estimate of $512.94 million. During the same period last year, the business posted $0.37 EPS. The business’s revenue was up 35.8% compared to the same quarter last year. On average, analysts expect that Diodes will post 3.66 earnings per share for the current year.

Institutional Investors Weigh In On Diodes

A number of hedge funds have recently added to or reduced their stakes in DIOD. Root Financial Partners LLC bought a new stake in shares of Diodes during the third quarter valued at approximately $28,000. Integrated Wealth Concepts LLC bought a new position in shares of Diodes in the 2nd quarter worth $35,000. Farther Finance Advisors LLC lifted its holdings in shares of Diodes by 38.9% in the 3rd quarter. Farther Finance Advisors LLC now owns 543 shares of the semiconductor company’s stock worth $53,000 after purchasing an additional 152 shares in the last quarter. State of Wyoming acquired a new stake in Diodes in the 2nd quarter valued at $110,000. Finally, Global Retirement Partners LLC acquired a new stake in Diodes in the 2nd quarter valued at $118,000. Institutional investors and hedge funds own 99.23% of the company’s stock.

Diodes Company Profile

Diodes Incorporated designs, manufactures and supplies semiconductor products used in electronic systems. Its portfolio includes discrete semiconductors, analog and mixed-signal devices, and power-management products, such as rectifiers, transistors, MOSFETs, protection devices, converters and LED drivers. The company’s products support applications in automotive, industrial, computing, consumer electronics and communications markets. Diodes serves customers globally through operations and sales across the Americas, Europe and Asia.