Zacks Investment Research Lowers Diodes Incorporated (DIOD) to Hold

Zacks Investment Research cut shares of Diodes Incorporated (NASDAQ:DIOD) from a strong-buy rating to a hold rating in a research report report published on Tuesday morning.

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 reports. Sidoti started coverage on shares of Diodes in a report on Thursday, September 21st. They set a neutral rating and a $32.00 price objective for the company. Cleveland Research downgraded shares of Diodes from a buy rating to a neutral rating in a report on Thursday, July 20th. Finally, BidaskClub downgraded shares of Diodes from a hold rating to a sell rating in a report on Wednesday, July 5th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company’s stock. The company currently has an average rating of Hold and an average target price of $30.67.

Diodes (NASDAQ:DIOD) last posted its quarterly earnings data on Tuesday, August 8th. The semiconductor company reported $0.36 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.36. The business had revenue of $264.20 million during the quarter, compared to the consensus estimate of $261.15 million. Diodes had a net margin of 2.68% and a return on equity of 5.64%. Diodes’s quarterly revenue was up 11.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.20 EPS.

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In related news, major shareholder Semiconductor Corp Lite-On sold 21,193 shares of the company’s stock in a transaction on Tuesday, August 22nd. The shares were sold at an average price of $26.51, for a total transaction of $561,826.43. Following the completion of the transaction, the insider now directly owns 7,929,701 shares in the company, valued at approximately $210,216,373.51. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Keh Shew Lu sold 69,983 shares of the company’s stock in a transaction on Tuesday, October 10th. The shares were sold at an average price of $31.20, for a total transaction of $2,183,469.60. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 604,859 shares of company stock valued at $17,395,650. Corporate insiders own 7.00% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in DIOD. BlackRock Inc. raised its stake in Diodes by 50,610.4% during the 1st quarter. BlackRock Inc. now owns 4,634,934 shares of the semiconductor company’s stock valued at $111,471,000 after purchasing an additional 4,625,794 shares during the last quarter. Numeric Investors LLC raised its stake in Diodes by 3,432.0% during the 2nd quarter. Numeric Investors LLC now owns 342,600 shares of the semiconductor company’s stock valued at $8,233,000 after purchasing an additional 332,900 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in Diodes by 8.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,247,902 shares of the semiconductor company’s stock valued at $78,048,000 after purchasing an additional 261,522 shares during the last quarter. Marshall Wace North America L.P. acquired a new position in Diodes during the 2nd quarter valued at $4,078,000. Finally, Martingale Asset Management L P acquired a new position in Diodes during the 2nd quarter valued at $3,985,000. Hedge funds and other institutional investors own 73.74% of the company’s stock.

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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