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

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

DIOD has been the subject of several other research reports. Robert W. Baird set a $120.00 target price on Diodes in a research note on Friday, May 8th. Wall Street Zen raised Diodes from a “hold” rating to a “buy” rating in a research note on Saturday, February 14th. Truist Financial raised their target price on Diodes from $98.00 to $139.00 and gave the stock a “buy” rating in a research note on Friday, May 8th. Benchmark raised their target price on Diodes from $62.00 to $80.00 and gave the stock a “buy” rating in a research note on Wednesday, February 11th. Finally, Weiss Ratings raised Diodes from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, January 21st. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, Diodes currently has a consensus rating of “Buy” and a consensus target price of $113.00.

Diodes Trading Down 1.4%

NASDAQ DIOD opened at $101.96 on Tuesday. The business has a 50 day simple moving average of $82.29 and a 200 day simple moving average of $64.57. Diodes has a one year low of $42.28 and a one year high of $117.80. The stock has a market capitalization of $4.68 billion, a P/E ratio of 55.41 and a beta of 1.93. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.17 and a quick ratio of 1.97.

Diodes (NASDAQ:DIOD) last released its earnings results on Thursday, May 7th. The semiconductor company reported $0.43 EPS for the quarter, topping the consensus estimate of $0.35 by $0.08. Diodes had a return on equity of 3.48% and a net margin of 5.50%.The business had revenue of $405.47 million during the quarter, compared to analysts’ expectations of $396.33 million. During the same quarter last year, the firm posted $0.19 earnings per share. The firm’s revenue was up 22.1% on a year-over-year basis. Research analysts expect that Diodes will post 2.58 earnings per share for the current year.

Insiders Place Their Bets

In other Diodes news, insider Jin Zhao sold 2,760 shares of the stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $102.36, for a total value of $282,513.60. Following the transaction, the insider owned 47,220 shares in the company, valued at approximately $4,833,439.20. This represents a 5.52% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CTO Francis Tang sold 3,643 shares of the stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $108.00, for a total value of $393,444.00. Following the completion of the transaction, the chief technology officer owned 95,905 shares in the company, valued at approximately $10,357,740. The trade was a 3.66% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 136,611 shares of company stock valued at $10,199,935. 1.70% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Allianz Asset Management GmbH lifted its holdings in shares of Diodes by 27.0% in the third quarter. Allianz Asset Management GmbH now owns 145,889 shares of the semiconductor company’s stock valued at $7,763,000 after purchasing an additional 31,013 shares in the last quarter. Bessemer Group Inc. lifted its holdings in shares of Diodes by 178,733.7% in the third quarter. Bessemer Group Inc. now owns 366,609 shares of the semiconductor company’s stock valued at $19,508,000 after purchasing an additional 366,404 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Diodes by 49.6% in the third quarter. JPMorgan Chase & Co. now owns 464,429 shares of the semiconductor company’s stock valued at $24,712,000 after purchasing an additional 153,905 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in shares of Diodes by 8.0% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 235,351 shares of the semiconductor company’s stock valued at $12,104,000 after purchasing an additional 17,363 shares in the last quarter. Finally, Hodges Capital Management Inc. bought a new position in shares of Diodes in the third quarter valued at approximately $1,968,000. Institutional investors own 99.23% of the company’s stock.

Diodes Company Profile

Diodes Incorporated (NASDAQ: DIOD) is a global manufacturer and supplier of high‐performance discrete, logic, analog and mixed‐signal semiconductor products. Headquartered in Plano, Texas, the company designs and develops a broad range of discrete components, standard logic functions, power management circuits, interface products and array products. Its portfolio includes rectifiers, MOSFETs, general‐purpose diodes, voltage regulators, comparators, buffers and other building blocks for electronic systems.

Diodes Incorporated serves a variety of end markets such as automotive, computing, communications, consumer electronics, industrial and lighting.