Diodes (NASDAQ:DIOD) Stock Moved Up to “Strong-Buy” by Zacks Research

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

Other research analysts also recently issued research reports about the stock. Robert W. Baird set a $192.00 target price on shares of Diodes in a research note on Thursday, August 6th. Bank of America assumed coverage on shares of Diodes in a report on Tuesday, October 6th. They set a “buy” rating and a $135.00 price target on the stock. Needham & Company LLC reduced their price target on shares of Diodes from $110.00 to $100.00 and set a “buy” rating for the company in a research report on Friday, November 6th. Truist Financial decreased their price objective on shares of Diodes from $139.00 to $133.00 and set a “buy” rating for the company in a report on Thursday, August 6th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Diodes in a research report on Tuesday, October 13th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $129.17.

Diodes Price Performance

Shares of NASDAQ: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 has a debt-to-equity ratio of 0.19, a current ratio of 3.07 and a quick ratio of 2.02. The business has a fifty day moving average price of $90.00 and a 200-day moving average price of $88.39. The company has a market capitalization of $4.17 billion, a PE ratio of 36.65 and a beta of 1.96.

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

Hedge Funds Weigh In On Diodes

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Andar Capital Management HK Ltd bought a new stake in shares of Diodes in the second quarter worth approximately $80,000,000. BlackRock Inc. purchased a new stake in Diodes during the second quarter valued at $803,920,000. Dimensional Fund Advisors LP increased its position in shares of Diodes by 2.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,436,359 shares of the semiconductor company’s stock valued at $166,294,000 after purchasing an additional 53,934 shares during the last quarter. William Blair Investment Management LLC bought a new position in Diodes in the second quarter worth approximately $184,153,000. Finally, Artemis Investment Management LLP raised its holdings in Diodes by 28.3% in the 3rd quarter. Artemis Investment Management LLP now owns 450,633 shares of the semiconductor company’s stock worth $43,617,000 after purchasing an additional 99,286 shares during the period. Institutional investors own 99.23% of the company’s stock.

Diodes Company Profile

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.