Diodes (DIOD) Lifted to Buy at Zacks Investment Research

Diodes (NASDAQ:DIOD) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Thursday. The brokerage currently has a $37.00 target price on the semiconductor company’s stock. Zacks Investment Research‘s target price points to a potential upside of 10.58% from the company’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. “

Get Diodes alerts:

A number of other analysts have also recently issued reports on the company. TheStreet raised Diodes from a “c” rating to a “b” rating in a research report on Wednesday, May 9th. BidaskClub cut Diodes from a “buy” rating to a “hold” rating in a research report on Tuesday, May 1st. Longbow Research raised Diodes from a “neutral” rating to a “buy” rating in a research report on Thursday, April 19th. ValuEngine raised Diodes from a “hold” rating to a “buy” rating in a research report on Thursday, March 15th. Finally, Benchmark raised Diodes from a “hold” rating to a “buy” rating and set a $34.00 price objective for the company in a research report on Thursday, February 8th. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Diodes has a consensus rating of “Buy” and an average target price of $36.00.

Shares of Diodes traded up $0.07, hitting $33.46, during midday trading on Thursday, MarketBeat reports. The company’s stock had a trading volume of 239,464 shares, compared to its average volume of 320,172. The stock has a market cap of $1.64 billion, a PE ratio of 24.42 and a beta of 0.92. The company has a quick ratio of 1.65, a current ratio of 2.64 and a debt-to-equity ratio of 0.22. Diodes has a 1-year low of $33.07 and a 1-year high of $33.28.

Diodes (NASDAQ:DIOD) last issued its earnings results on Tuesday, May 8th. The semiconductor company reported $0.48 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.40 by $0.08. The business had revenue of $274.51 million during the quarter, compared to analysts’ expectations of $269.38 million. Diodes had a return on equity of 9.73% and a net margin of 1.42%. Diodes’s revenue was up 16.2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.14 earnings per share. analysts expect that Diodes will post 2 EPS for the current fiscal year.

In other Diodes news, CEO Keh Shew Lu sold 12,000 shares of the business’s stock in a transaction dated Wednesday, March 21st. The stock was sold at an average price of $33.00, for a total value of $396,000.00. Following the completion of the sale, the chief executive officer now owns 644,207 shares of the company’s stock, valued at $21,258,831. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP Francis Tang sold 8,600 shares of the business’s stock in a transaction dated Wednesday, May 16th. The stock was sold at an average price of $33.41, for a total value of $287,326.00. Following the completion of the sale, the vice president now directly owns 86,279 shares of the company’s stock, valued at approximately $2,882,581.39. The disclosure for this sale can be found here. In the last three months, insiders have sold 35,429 shares of company stock valued at $1,161,389. Insiders own 6.70% of the company’s stock.

Large investors have recently made changes to their positions in the business. First Quadrant L P CA lifted its position in shares of Diodes by 54.2% in the fourth quarter. First Quadrant L P CA now owns 39,032 shares of the semiconductor company’s stock worth $1,119,000 after buying an additional 13,724 shares during the last quarter. Pinebridge Investments L.P. lifted its position in shares of Diodes by 39.4% in the fourth quarter. Pinebridge Investments L.P. now owns 76,198 shares of the semiconductor company’s stock worth $2,185,000 after buying an additional 21,543 shares during the last quarter. Goldman Sachs Group Inc. lifted its position in shares of Diodes by 1.7% in the fourth quarter. Goldman Sachs Group Inc. now owns 434,065 shares of the semiconductor company’s stock worth $12,445,000 after buying an additional 7,227 shares during the last quarter. AXA lifted its position in shares of Diodes by 374.3% in the fourth quarter. AXA now owns 81,100 shares of the semiconductor company’s stock worth $2,325,000 after buying an additional 64,000 shares during the last quarter. Finally, Swiss National Bank lifted its position in shares of Diodes by 6.4% in the fourth quarter. Swiss National Bank now owns 68,500 shares of the semiconductor company’s stock worth $1,964,000 after buying an additional 4,100 shares during the last quarter. 79.77% of the stock is owned by institutional investors.

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.

Get a free copy of the Zacks research report on Diodes (DIOD)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Diodes (NASDAQ:DIOD)