Diodes (DIOD) Downgraded by Zacks Investment Research to Sell

Zacks Investment Research downgraded shares of Diodes (NASDAQ:DIOD) from a hold rating to a sell rating in a research note released on Monday, December 25th.

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. “

DIOD has been the subject of a number of other reports. BidaskClub lowered shares of Diodes from a hold rating to a sell rating in a report on Wednesday, December 6th. ValuEngine lowered shares of Diodes from a buy rating to a hold rating in a report on Wednesday, November 15th. Benchmark lowered shares of Diodes from a buy rating to a hold rating in a report on Monday, October 30th. Robert W. Baird reiterated a buy rating and set a $37.00 target price on shares of Diodes in a report on Tuesday, October 17th. Finally, Sidoti started coverage on shares of Diodes in a report on Thursday, September 21st. They set a neutral rating and a $32.00 target price for the company. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company. The stock presently has a consensus rating of Hold and a consensus target price of $37.00.

Shares of Diodes (NASDAQ DIOD) opened at $29.04 on Monday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 2.18 and a current ratio of 3.12. Diodes has a 1 year low of $22.06 and a 1 year high of $35.36. The stock has a market cap of $1,477.75, a PE ratio of 48.40 and a beta of 1.17.

Diodes (NASDAQ:DIOD) last posted its quarterly earnings results on Tuesday, November 7th. The semiconductor company reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.44 by $0.01. The business had revenue of $285.20 million during the quarter, compared to analyst estimates of $281.66 million. Diodes had a net margin of 2.96% and a return on equity of 6.44%. The company’s revenue was up 13.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.30 earnings per share. equities research analysts anticipate that Diodes will post 1.35 EPS for the current year.

In other Diodes news, SVP Mark A. King sold 14,396 shares of the firm’s stock in a transaction that occurred on Tuesday, November 21st. The shares were sold at an average price of $31.29, for a total transaction of $450,450.84. Following the completion of the transaction, the senior vice president now owns 94,719 shares of the company’s stock, valued at $2,963,757.51. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Semiconductor Corp Lite-On sold 1,379 shares of the firm’s stock in a transaction that occurred on Friday, November 10th. The shares were sold at an average price of $32.00, for a total transaction of $44,128.00. The disclosure for this sale can be found here. Insiders sold 141,071 shares of company stock valued at $4,429,570 over the last 90 days. 7.00% of the stock is currently owned by company insiders.

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Dimensional Fund Advisors LP increased its position in shares of Diodes by 7.0% during the third quarter. Dimensional Fund Advisors LP now owns 3,475,574 shares of the semiconductor company’s stock valued at $104,023,000 after acquiring an additional 227,672 shares in the last quarter. State Street Corp increased its position in shares of Diodes by 4.8% during the second quarter. State Street Corp now owns 1,022,899 shares of the semiconductor company’s stock valued at $24,572,000 after acquiring an additional 46,506 shares in the last quarter. Northern Trust Corp increased its position in shares of Diodes by 2.9% during the second quarter. Northern Trust Corp now owns 777,284 shares of the semiconductor company’s stock valued at $18,679,000 after acquiring an additional 21,697 shares in the last quarter. Ameriprise Financial Inc. increased its position in shares of Diodes by 0.8% during the third quarter. Ameriprise Financial Inc. now owns 491,608 shares of the semiconductor company’s stock valued at $14,714,000 after acquiring an additional 3,999 shares in the last quarter. Finally, Russell Investments Group Ltd. increased its position in shares of Diodes by 552.8% during the third quarter. Russell Investments Group Ltd. now owns 398,514 shares of the semiconductor company’s stock valued at $11,927,000 after acquiring an additional 337,471 shares in the last quarter. 74.70% of the stock is owned by institutional investors.

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Diodes Company Profile

Diodes Incorporated is a 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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