Zacks Investment Research Downgrades Diodes (NASDAQ:DIOD) to Strong Sell

Zacks Investment Research lowered shares of Diodes (NASDAQ:DIOD) from a hold rating to a strong sell rating in a research report sent to investors on Thursday morning, reports.

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 several other research reports. ValuEngine lowered Diodes from a hold rating to a sell rating in a research report on Tuesday, February 4th. BidaskClub cut shares of Diodes from a buy rating to a hold rating in a report on Tuesday. Finally, Wells Fargo & Co upped their target price on shares of Diodes from $53.00 to $58.00 and gave the stock an overweight rating in a research report on Friday, December 20th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the stock. Diodes presently has a consensus rating of Hold and an average price target of $54.50.

Shares of NASDAQ:DIOD traded down $2.30 during trading on Thursday, hitting $49.18. The stock had a trading volume of 428,967 shares, compared to its average volume of 416,173. The company has a market capitalization of $2.51 billion, a PE ratio of 18.70 and a beta of 1.34. The company has a quick ratio of 1.79, a current ratio of 2.56 and a debt-to-equity ratio of 0.08. The firm’s fifty day moving average is $55.19 and its 200 day moving average is $45.94. Diodes has a 12 month low of $30.51 and a 12 month high of $59.70.

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, beating the Thomson Reuters’ consensus estimate of $0.63 by $0.02. The company had revenue of $301.16 million for the quarter, compared to analyst estimates of $300.00 million. Diodes had a return on equity of 14.60% and a net margin of 10.74%. Equities research analysts expect that Diodes will post 2.9 EPS for the current fiscal year.

In other Diodes news, VP Francis Tang sold 2,669 shares of the business’s stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $46.75, for a total value of $124,775.75. Following the sale, the vice president now directly owns 80,806 shares of the company’s stock, valued at $3,777,680.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Keh Shew Lu sold 2,000 shares of the business’s stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $46.77, for a total value of $93,540.00. Following the completion of the sale, the chief executive officer now directly owns 579,359 shares in the company, valued at $27,096,620.43. The disclosure for this sale can be found here. In the last 90 days, insiders sold 118,282 shares of company stock worth $5,688,295. Corporate insiders own 5.30% of the company’s stock.

Large investors have recently modified their holdings of the company. Squar Milner Financial Services LLC purchased a new position in shares of Diodes in the 3rd quarter worth about $26,000. Carroll Financial Associates Inc. purchased a new stake in Diodes during the 4th quarter valued at about $44,000. Penserra Capital Management LLC purchased a new stake in Diodes during the 3rd quarter valued at about $50,000. Rockefeller Capital Management L.P. increased its stake in Diodes by 24.3% during the 4th quarter. Rockefeller Capital Management L.P. now owns 1,405 shares of the semiconductor company’s stock valued at $79,000 after purchasing an additional 275 shares in the last quarter. Finally, Tower Research Capital LLC TRC bought a new stake in Diodes during the 4th quarter valued at about $133,000. Hedge funds and other institutional investors own 83.41% of the company’s stock.

Diodes Company Profile

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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