Diodes (NASDAQ:DIOD) Lowered to Strong Sell at Zacks Investment Research
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. “
Other equities analysts have also issued reports about the company. Wells Fargo & Co upped their target price on Diodes from $53.00 to $58.00 and gave the stock an overweight rating in a research note on Friday, December 20th. ValuEngine cut Diodes from a hold rating to a sell rating in a report on Tuesday, February 4th. Finally, BidaskClub downgraded Diodes from a buy rating to a hold rating in a research report on Tuesday. Two analysts have rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company. Diodes presently has an average rating of Hold and a consensus price target of $54.50.
Diodes (NASDAQ:DIOD) last released its quarterly earnings results on Tuesday, February 11th. The semiconductor company reported $0.65 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.02. Diodes had a net margin of 10.74% and a return on equity of 14.60%. The firm had revenue of $301.16 million for the quarter, compared to analysts’ expectations of $300.00 million. On average, sell-side analysts anticipate that Diodes will post 2.9 EPS for the current year.
In other Diodes news, CEO Keh Shew Lu sold 12,000 shares of the firm’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $46.23, for a total transaction of $554,760.00. Following the sale, the chief executive officer now owns 582,359 shares in the company, valued at $26,922,456.57. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Richard Dallas White sold 25,259 shares of Diodes stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $46.28, for a total value of $1,168,986.52. Following the sale, the insider now directly owns 84,547 shares of the company’s stock, valued at approximately $3,912,835.16. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 118,282 shares of company stock valued at $5,688,295. 5.30% of the stock is currently owned by company insiders.
Several institutional investors and hedge funds have recently bought and sold shares of the company. Bank of America Corp DE raised its holdings in shares of Diodes by 103.8% during the 4th quarter. Bank of America Corp DE now owns 1,020,444 shares of the semiconductor company’s stock valued at $57,522,000 after buying an additional 519,650 shares in the last quarter. Bank of New York Mellon Corp lifted its position in Diodes by 5.9% in the 4th quarter. Bank of New York Mellon Corp now owns 1,615,200 shares of the semiconductor company’s stock worth $91,048,000 after buying an additional 90,378 shares during the last quarter. Marshall Wace North America L.P. lifted its position in Diodes by 78.5% in the 4th quarter. Marshall Wace North America L.P. now owns 4,720 shares of the semiconductor company’s stock worth $266,000 after buying an additional 2,076 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in Diodes by 1.1% in the fourth quarter. Goldman Sachs Group Inc. now owns 440,833 shares of the semiconductor company’s stock worth $24,850,000 after buying an additional 4,914 shares in the last quarter. Finally, Laurion Capital Management LP purchased a new stake in Diodes in the fourth quarter worth approximately $671,000. Hedge funds and other institutional investors own 83.41% of the company’s stock.
Diodes Incorporated, together with its subsidiaries, designs, manufactures, and supplies application-specific standard products in the discrete, logic, and analog and mixed-signal semiconductor markets in Asia, North America, and Europe. It primarily focuses on low pin count semiconductor devices with one or more active or passive components.
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