Diodes (NASDAQ:DIOD) Raised to Strong-Buy at Zacks Research

Diodes (NASDAQ:DIOD) was upgraded by analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research note issued on Tuesday, Zacks reports.

Several other brokerages have also recently issued reports on DIOD. Bank of America assumed coverage on shares of Diodes in a research note on Tuesday, October 6th. They set a “buy” rating and a $135.00 price objective for the company. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Diodes in a research report on Tuesday, October 13th. Wall Street Zen raised Diodes from a “buy” rating to a “strong-buy” rating in a research report on Saturday, October 24th. Needham & Company LLC reduced their target price on Diodes from $110.00 to $100.00 and set a “buy” rating on the stock in a report on Friday, November 6th. Finally, Wells Fargo & Company set a $135.00 target price on Diodes in a report on Tuesday, October 6th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $129.17.

Diodes Price Performance

DIOD opened at $91.27 on Tuesday. Diodes has a 1 year low of $42.28 and a 1 year high of $125.99. The company’s 50 day simple moving average is $90.00 and its 200 day simple moving average is $88.39. The stock has a market capitalization of $4.17 billion, a PE ratio of 36.65 and a beta of 1.96. The company has a debt-to-equity ratio of 0.19, a quick ratio of 2.02 and a current ratio of 3.07.

Diodes (NASDAQ:DIOD) last issued its quarterly earnings results on Thursday, November 5th. The semiconductor company reported $1.18 EPS for the quarter, topping the consensus estimate of $1.05 by $0.13. The firm had revenue of $532.59 million during the quarter, compared to analyst estimates of $512.94 million. Diodes had a net margin of 6.51% and a return on equity of 6.17%. Diodes’s revenue for the quarter was up 35.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.37 earnings per share. As a group, sell-side analysts expect that Diodes will post 3.66 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the business. Farther Finance Advisors LLC raised its holdings in Diodes by 38.9% in the third quarter. Farther Finance Advisors LLC now owns 543 shares of the semiconductor company’s stock valued at $53,000 after buying an additional 152 shares during the period. Global Retirement Partners LLC grew its stake in Diodes by 14.2% during the third quarter. Global Retirement Partners LLC now owns 1,235 shares of the semiconductor company’s stock worth $120,000 after buying an additional 154 shares during the period. Commonwealth Equity Services LLC grew its stake in Diodes by 2.9% during the third quarter. Commonwealth Equity Services LLC now owns 6,378 shares of the semiconductor company’s stock worth $617,000 after buying an additional 177 shares during the period. Choreo LLC increased its position in shares of Diodes by 2.6% in the third quarter. Choreo LLC now owns 9,946 shares of the semiconductor company’s stock worth $963,000 after acquiring an additional 256 shares in the last quarter. Finally, Signaturefd LLC increased its position in shares of Diodes by 8.7% in the third quarter. Signaturefd LLC now owns 3,476 shares of the semiconductor company’s stock worth $336,000 after acquiring an additional 277 shares in the last quarter. Hedge funds and other institutional investors own 99.23% of the company’s stock.

About Diodes

Diodes Incorporated designs, manufactures and supplies semiconductor products used in electronic systems. Its portfolio includes discrete semiconductors, analog and mixed-signal devices, and power-management products, such as rectifiers, transistors, MOSFETs, protection devices, converters and LED drivers. The company’s products support applications in automotive, industrial, computing, consumer electronics and communications markets. Diodes serves customers globally through operations and sales across the Americas, Europe and Asia.