Diodes (DIOD) Upgraded to Strong-Buy by Zacks Investment Research

Diodes (NASDAQ:DIOD) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a research report issued on Friday. The brokerage currently has a $41.00 price target on the semiconductor company’s stock. Zacks Investment Research‘s price objective suggests a potential upside of 19.19% from the stock’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. “

A number of other research firms also recently issued reports on DIOD. BidaskClub upgraded shares of Diodes from a “hold” rating to a “buy” rating in a research report on Saturday, July 21st. ValuEngine downgraded shares of Diodes from a “buy” rating to a “hold” rating in a research report on Friday, September 7th. Finally, Sidoti upgraded shares of Diodes from a “neutral” rating to a “buy” rating in a research report on Wednesday, September 19th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. Diodes currently has an average rating of “Buy” and a consensus target price of $38.75.

Shares of Diodes stock traded down $1.20 during trading on Friday, reaching $34.40. 413,400 shares of the company traded hands, compared to its average volume of 336,415. The company has a quick ratio of 1.66, a current ratio of 2.60 and a debt-to-equity ratio of 0.18. Diodes has a 1-year low of $26.09 and a 1-year high of $39.31. The company has a market capitalization of $1.56 billion, a PE ratio of 25.11 and a beta of 1.06.

Diodes (NASDAQ:DIOD) last released its earnings results on Tuesday, November 6th. The semiconductor company reported $0.68 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.63 by $0.05. Diodes had a net margin of 3.75% and a return on equity of 12.16%. The company had revenue of $320.90 million for the quarter, compared to the consensus estimate of $321.48 million. During the same quarter in the previous year, the company earned $0.45 EPS. Diodes’s quarterly revenue was up 12.5% compared to the same quarter last year. Sell-side analysts expect that Diodes will post 2.17 EPS for the current fiscal year.

In other Diodes news, VP Evan Yu sold 8,983 shares of the business’s stock in a transaction on Friday, August 31st. The shares were sold at an average price of $37.66, for a total transaction of $338,299.78. Following the completion of the sale, the vice president now owns 36,170 shares in the company, valued at approximately $1,362,162.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Francis Tang sold 6,560 shares of the business’s stock in a transaction on Monday, August 27th. The shares were sold at an average price of $38.90, for a total transaction of $255,184.00. Following the sale, the vice president now owns 88,597 shares of the company’s stock, valued at approximately $3,446,423.30. The disclosure for this sale can be found here. Insiders have sold a total of 88,147 shares of company stock valued at $3,363,504 in the last 90 days. 6.70% of the stock is currently owned by company insiders.

Hedge funds have recently made changes to their positions in the business. BlackRock Inc. grew its stake in shares of Diodes by 8.4% in the 3rd quarter. BlackRock Inc. now owns 6,111,423 shares of the semiconductor company’s stock worth $203,450,000 after acquiring an additional 474,140 shares in the last quarter. Dimensional Fund Advisors LP grew its position in Diodes by 4.3% during the second quarter. Dimensional Fund Advisors LP now owns 3,968,874 shares of the semiconductor company’s stock valued at $136,808,000 after buying an additional 163,479 shares during the period. Glenmede Trust Co. NA grew its position in Diodes by 368,401.2% during the second quarter. Glenmede Trust Co. NA now owns 943,363 shares of the semiconductor company’s stock valued at $32,518,000 after buying an additional 943,107 shares during the period. Northern Trust Corp grew its position in Diodes by 2.6% during the second quarter. Northern Trust Corp now owns 788,980 shares of the semiconductor company’s stock valued at $27,197,000 after buying an additional 19,742 shares during the period. Finally, Wells Fargo & Company MN grew its position in Diodes by 21.7% during the third quarter. Wells Fargo & Company MN now owns 744,729 shares of the semiconductor company’s stock valued at $24,792,000 after buying an additional 133,019 shares during the period. Institutional investors and hedge funds own 75.96% of the company’s stock.

About Diodes

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

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