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

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.com reports.

Several other analysts have also recently commented on the company. Wall Street Zen upgraded Diodes from a “hold” rating to a “buy” rating in a research report on Saturday, February 14th. Benchmark boosted their price target on Diodes from $62.00 to $80.00 and gave the stock a “buy” rating in a research report on Wednesday, February 11th. Weiss Ratings upgraded Diodes from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, January 21st. Robert W. Baird set a $120.00 target price on Diodes in a report on Friday, May 8th. Finally, Truist Financial upped their target price on Diodes from $98.00 to $139.00 and gave the company a “buy” rating in a report on Friday, May 8th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $113.00.

Diodes Trading Down 1.4%

Shares of DIOD stock opened at $101.96 on Tuesday. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.17 and a quick ratio of 1.97. The company has a market cap of $4.68 billion, a price-to-earnings ratio of 55.41 and a beta of 1.93. The stock has a 50 day simple moving average of $82.29 and a 200-day simple moving average of $64.57. Diodes has a 1-year low of $42.28 and a 1-year high of $117.80.

Diodes (NASDAQ:DIOD) last issued its quarterly 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 firm had revenue of $405.47 million during the quarter, compared to analysts’ expectations of $396.33 million. During the same period in the previous year, the business earned $0.19 earnings per share. The firm’s revenue for the quarter was up 22.1% on a year-over-year basis. On average, equities research analysts expect that Diodes will post 2.58 EPS for the current fiscal year.

Insider Buying and Selling at Diodes

In other Diodes news, CFO Brett R. Whitmire sold 16,556 shares of Diodes stock in a transaction dated Wednesday, May 13th. The stock was sold at an average price of $103.34, for a total value of $1,710,897.04. Following the completion of the transaction, the chief financial officer directly owned 44,632 shares of the company’s stock, valued at $4,612,270.88. The trade was a 27.06% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Andy Tsong sold 2,652 shares of the business’s stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $110.00, for a total transaction of $291,720.00. Following the sale, the senior vice president owned 49,752 shares in the company, valued at $5,472,720. This trade represents a 5.06% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 136,611 shares of company stock worth $10,199,935. Insiders own 1.70% of the company’s stock.

Institutional Trading of Diodes

Hedge funds have recently made changes to their positions in the business. EverSource Wealth Advisors LLC lifted its position in shares of Diodes by 77.4% during the second quarter. EverSource Wealth Advisors LLC now owns 470 shares of the semiconductor company’s stock worth $25,000 after purchasing an additional 205 shares in the last quarter. Geneos Wealth Management Inc. acquired a new stake in shares of Diodes during the second quarter worth about $30,000. Farther Finance Advisors LLC lifted its position in shares of Diodes by 51.4% during the fourth quarter. Farther Finance Advisors LLC now owns 589 shares of the semiconductor company’s stock worth $29,000 after purchasing an additional 200 shares in the last quarter. MAI Capital Management lifted its position in shares of Diodes by 150.0% during the third quarter. MAI Capital Management now owns 685 shares of the semiconductor company’s stock worth $36,000 after purchasing an additional 411 shares in the last quarter. Finally, Quarry LP acquired a new stake in shares of Diodes during the third quarter worth about $39,000. Institutional investors and hedge funds 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.