Diodes Inc. (DIOD) Announces Earnings Results
Diodes Inc. (NASDAQ:DIOD) released its quarterly earnings results on Wednesday. The company reported $0.30 EPS for the quarter, topping the Zacks’ consensus estimate of $0.28 by $0.02. Diodes had a net margin of 0.86% and a return on equity of 3.39%. The business earned $250.70 million during the quarter, compared to analysts’ expectations of $250.75 million. During the same quarter in the previous year, the company earned $0.13 EPS. The business’s quarterly revenue was up 20.0% compared to the same quarter last year.
Shares of Diodes (NASDAQ:DIOD) opened at 20.63 on Friday. The stock has a market cap of $1.01 billion, a PE ratio of 479.77 and a beta of 1.22. The stock has a 50 day moving average of $20.73 and a 200-day moving average of $19.54. Diodes has a 52 week low of $16.58 and a 52 week high of $25.20.
A number of brokerages have recently issued reports on DIOD. Zacks Investment Research cut shares of Diodes from a “hold” rating to a “sell” rating in a research note on Thursday. Robert W. Baird reaffirmed an “outperform” rating and issued a $25.00 price objective on shares of Diodes in a research note on Friday.
In other Diodes news, Director John M. Stich sold 5,000 shares of the firm’s stock in a transaction that occurred on 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 owns 35,700 shares in the company, valued at approximately $785,400. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 6.70% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in the company. Teacher Retirement System of Texas boosted its stake in Diodes by 20.1% in the second quarter. Teacher Retirement System of Texas now owns 5,721 shares of the company’s stock worth $107,000 after buying an additional 958 shares during the last quarter. Mason Street Advisors LLC bought a new stake in Diodes during the second quarter valued at about $142,000. SG Americas Securities LLC bought a new stake in Diodes during the third quarter valued at about $168,000. BlackRock Inc. boosted its stake in Diodes by 271.9% in the second quarter. BlackRock Inc. now owns 9,093 shares of the company’s stock valued at $171,000 after buying an additional 6,648 shares during the last quarter. Finally, Capstone Asset Management Co. boosted its stake in Diodes by 1.8% in the second quarter. Capstone Asset Management Co. now owns 11,106 shares of the company’s stock valued at $209,000 after buying an additional 200 shares during the last quarter. Institutional investors own 76.07% of the company’s stock.
Diodes Company Profile
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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