Robert W. Baird Reiterates “Outperform” Rating for Diodes Inc. (DIOD)
Diodes Inc. (NASDAQ:DIOD)‘s stock had its “outperform” rating reissued by research analysts at Robert W. Baird in a research note issued on Friday. They currently have a $25.00 price objective on the stock. Robert W. Baird’s price target would indicate a potential upside of 13.07% from the stock’s previous close.
Separately, Zacks Investment Research cut Diodes from a “hold” rating to a “sell” rating in a research report on Thursday, November 10th.
Shares of Diodes (NASDAQ:DIOD) opened at 22.11 on Friday. The firm has a market capitalization of $1.08 billion, a P/E ratio of 109.46 and a beta of 1.22. The company has a 50 day moving average of $20.78 and a 200-day moving average of $19.60. Diodes has a 12 month low of $16.58 and a 12 month high of $25.20.
Diodes (NASDAQ:DIOD) last released its earnings results on Wednesday, November 9th. The company reported $0.30 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.28 by $0.02. Diodes had a return on equity of 4.44% and a net margin of 1.66%. The firm had revenue of $250.70 million for the quarter, compared to analysts’ expectations of $250.75 million. During the same quarter in the previous year, the business posted $0.13 earnings per share. The business’s revenue for the quarter was up 20.0% on a year-over-year basis. Analysts predict that Diodes will post $0.85 EPS for the current year.
In other news, Director John M. Stich sold 5,000 shares of the business’s stock in a transaction dated Wednesday, November 9th. The stock was 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 transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 6.70% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the company. California Public Employees Retirement System boosted its stake in Diodes by 9.2% in the second quarter. California Public Employees Retirement System now owns 82,700 shares of the company’s stock valued at $1,554,000 after buying an additional 7,000 shares during the period. Emerald Acquisition Ltd. purchased a new stake in Diodes during the second quarter valued at $876,000. Swiss National Bank boosted its stake in Diodes by 4.8% in the second quarter. Swiss National Bank now owns 67,400 shares of the company’s stock valued at $1,266,000 after buying an additional 3,100 shares during the period. California State Teachers Retirement System boosted its stake in Diodes by 0.6% in the second quarter. California State Teachers Retirement System now owns 79,879 shares of the company’s stock valued at $1,501,000 after buying an additional 489 shares during the period. Finally, Bank of Montreal Can purchased a new stake in Diodes during the second quarter valued at $1,458,000. Institutional investors own 77.54% of the company’s stock.
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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