BidaskClub Upgrades Diodes (NASDAQ:DIOD) to Strong-Buy

BidaskClub upgraded shares of Diodes (NASDAQ:DIOD) from a buy rating to a strong-buy rating in a report published on Friday morning, BidAskClub reports.

Several other analysts have also recently issued reports on DIOD. Zacks Investment Research cut shares of Diodes from a strong-buy rating to a hold rating in a research report on Tuesday, July 9th. ValuEngine cut shares of Diodes from a buy rating to a hold rating in a research report on Friday. Finally, Longbow Research cut shares of Diodes from a buy rating to a neutral rating in a report on Wednesday, April 17th. Four research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of Buy and an average price target of $43.00.

Shares of DIOD traded down $3.18 during mid-day trading on Friday, hitting $39.74. 607,634 shares of the company’s stock were exchanged, compared to its average volume of 487,163. The company has a market capitalization of $2.16 billion, a P/E ratio of 16.70 and a beta of 1.22. Diodes has a fifty-two week low of $27.38 and a fifty-two week high of $44.27. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.20 and a current ratio of 3.05. The company has a 50-day moving average of $37.10.

Diodes (NASDAQ:DIOD) last issued its quarterly earnings results on Tuesday, May 7th. The semiconductor company reported $0.69 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.60 by $0.09. The business had revenue of $302.29 million for the quarter, compared to analysts’ expectations of $301.60 million. Diodes had a net margin of 9.44% and a return on equity of 13.69%. The business’s quarterly revenue was up 10.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.48 earnings per share. As a group, research analysts predict that Diodes will post 2.8 EPS for the current fiscal year.

In related news, VP Francis Tang sold 6,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 29th. The shares were sold at an average price of $31.73, for a total value of $190,380.00. Following the sale, the vice president now owns 86,217 shares of the company’s stock, valued at $2,735,665.41. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Richard Dallas White sold 13,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 29th. The shares were sold at an average price of $31.73, for a total transaction of $412,490.00. Following the completion of the sale, the insider now directly owns 79,806 shares in the company, valued at approximately $2,532,244.38. The disclosure for this sale can be found here. In the last ninety days, insiders sold 23,830 shares of company stock worth $812,975. 5.30% of the stock is owned by corporate insiders.

A number of large investors have recently modified their holdings of DIOD. Dimensional Fund Advisors LP raised its holdings in Diodes by 3.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 4,190,553 shares of the semiconductor company’s stock valued at $135,187,000 after acquiring an additional 134,372 shares in the last quarter. Geode Capital Management LLC raised its holdings in Diodes by 8.6% during the fourth quarter. Geode Capital Management LLC now owns 457,937 shares of the semiconductor company’s stock worth $14,773,000 after purchasing an additional 36,202 shares in the last quarter. Principal Financial Group Inc. raised its holdings in Diodes by 0.6% during the fourth quarter. Principal Financial Group Inc. now owns 331,871 shares of the semiconductor company’s stock worth $10,706,000 after purchasing an additional 1,928 shares in the last quarter. Bank of America Corp DE raised its holdings in Diodes by 40.8% during the fourth quarter. Bank of America Corp DE now owns 325,431 shares of the semiconductor company’s stock worth $10,497,000 after purchasing an additional 94,297 shares in the last quarter. Finally, Squarepoint Ops LLC raised its holdings in Diodes by 127.7% during the fourth quarter. Squarepoint Ops LLC now owns 29,140 shares of the semiconductor company’s stock worth $940,000 after purchasing an additional 16,345 shares in the last quarter. 80.75% of the stock is currently owned by hedge funds and other institutional investors.

Diodes Company Profile

Diodes Incorporated, together with its subsidiaries, designs, manufactures, and supplies application-specific standard products in the discrete, logic, and analog and mixed-signal semiconductor markets in Asia, North America, and Europe. It primarily focuses on low pin count semiconductor devices with one or more active or passive components.

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