TheStreet Upgrades Diodes Inc. (DIOD) to Buy
Diodes Inc. (NASDAQ:DIOD) was upgraded by stock analysts at TheStreet from a “hold” rating to a “buy” rating in a report issued on Monday.
Several other research analysts have also commented on DIOD. Zacks Investment Research lowered shares of Diodes from a “hold” rating to a “sell” rating in a report on Thursday, November 10th. Robert W. Baird reaffirmed an “outperform” rating and issued a $25.00 target price on shares of Diodes in a research report on Friday, November 11th.
Shares of Diodes (NASDAQ:DIOD) opened at 23.98 on Monday. Diodes has a 12 month low of $16.58 and a 12 month high of $25.20. The firm has a 50-day moving average of $21.40 and a 200 day moving average of $19.93. The company has a market cap of $1.17 billion, a price-to-earnings ratio of 118.71 and a beta of 1.22.
Diodes (NASDAQ:DIOD) last issued its quarterly earnings data on Wednesday, November 9th. The company reported $0.30 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.28 by $0.02. Diodes had a net margin of 1.66% and a return on equity of 4.44%. The business earned $250.70 million during the quarter, compared to analyst estimates of $250.75 million. During the same period in the prior year, the business earned $0.13 EPS. The company’s revenue for the quarter was up 20.0% on a year-over-year basis. On average, analysts expect that Diodes will post $0.87 earnings per share for the current year.
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In related news, Director John M. Stich sold 2,200 shares of the stock in a transaction dated Wednesday, November 23rd. The shares were sold at an average price of $24.00, for a total transaction of $52,800.00. Following the sale, the director now directly owns 35,700 shares of the company’s stock, valued at approximately $856,800. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John M. Stich sold 5,000 shares of the stock in a transaction dated Wednesday, November 9th. The shares were sold at an average price of $22.00, for a total transaction of $110,000.00. Following the sale, the director now directly owns 35,700 shares in the company, valued at $785,400. The disclosure for this sale can be found here. 6.70% of the stock is currently owned by insiders.
A number of hedge funds have recently made changes to their positions in DIOD. Victory Capital Management Inc. increased its stake in shares of Diodes by 19.3% in the third quarter. Victory Capital Management Inc. now owns 3,490,676 shares of the company’s stock valued at $74,491,000 after buying an additional 564,232 shares during the period. FMR LLC increased its stake in shares of Diodes by 72.6% in the second quarter. FMR LLC now owns 616,800 shares of the company’s stock valued at $11,590,000 after buying an additional 259,400 shares during the period. BlackRock Fund Advisors increased its stake in shares of Diodes by 8.4% in the third quarter. BlackRock Fund Advisors now owns 2,715,098 shares of the company’s stock valued at $57,940,000 after buying an additional 210,920 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Diodes by 8.3% in the second quarter. Dimensional Fund Advisors LP now owns 2,487,917 shares of the company’s stock valued at $46,746,000 after buying an additional 190,821 shares during the period. Finally, Foundry Partners LLC increased its stake in shares of Diodes by 1,061.4% in the second quarter. Foundry Partners LLC now owns 174,155 shares of the company’s stock valued at $3,272,000 after buying an additional 159,160 shares during the period. 75.46% of the stock is currently owned by institutional investors.
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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