Diodes Incorporated (NASDAQ:DIOD) Releases Earnings Results, Meets Expectations

Diodes Incorporated (NASDAQ:DIOD) announced its quarterly earnings data on Tuesday, August 8th. The semiconductor company reported $0.36 EPS for the quarter, meeting the consensus estimate of $0.36, Bloomberg Earnings reports. Diodes had a net margin of 2.68% and a return on equity of 5.64%. The business had revenue of $264.20 million during the quarter, compared to the consensus estimate of $261.15 million. During the same period in the previous year, the business earned $0.20 earnings per share. The company’s revenue was up 11.8% on a year-over-year basis.

Shares of Diodes (NASDAQ DIOD) opened at 26.48 on Friday. Diodes has a 12 month low of $19.39 and a 12 month high of $27.51. The firm’s 50-day moving average is $26.01 and its 200-day moving average is $24.99. The company has a market cap of $1.30 billion, a PE ratio of 50.15 and a beta of 1.22.

In other Diodes news, CEO Keh Shew Lu sold 8,505 shares of the firm’s stock in a transaction on Wednesday, July 5th. The shares were sold at an average price of $23.81, for a total value of $202,504.05. Following the sale, the chief executive officer now owns 1,032,021 shares of the company’s stock, valued at approximately $24,572,420.01. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, major shareholder Semiconductor Corp Lite-On sold 116,209 shares of the firm’s stock in a transaction on Wednesday, August 16th. The stock was sold at an average price of $26.95, for a total transaction of $3,131,832.55. Following the completion of the sale, the insider now directly owns 8,045,778 shares in the company, valued at approximately $216,833,717.10. The disclosure for this sale can be found here. In the last quarter, insiders sold 322,706 shares of company stock worth $8,501,516. 6.70% of the stock is owned by corporate insiders.

A number of large investors have recently made changes to their positions in the company. Bank of America Corp DE raised its stake in shares of Diodes by 27.7% in the first quarter. Bank of America Corp DE now owns 167,123 shares of the semiconductor company’s stock worth $4,020,000 after buying an additional 36,263 shares during the period. Morgan Stanley raised its stake in shares of Diodes by 3.2% in the first quarter. Morgan Stanley now owns 175,221 shares of the semiconductor company’s stock worth $4,213,000 after buying an additional 5,464 shares during the last quarter. Highbridge Capital Management LLC bought a new stake in shares of Diodes during the first quarter worth $681,000. BlackRock Inc. raised its stake in shares of Diodes by 50,610.4% in the first quarter. BlackRock Inc. now owns 4,634,934 shares of the semiconductor company’s stock worth $111,471,000 after buying an additional 4,625,794 shares during the last quarter. Finally, Vanguard Group Inc. raised its stake in shares of Diodes by 5.2% in the first quarter. Vanguard Group Inc. now owns 3,356,058 shares of the semiconductor company’s stock worth $80,713,000 after buying an additional 165,243 shares during the last quarter. 74.16% of the stock is currently owned by institutional investors and hedge funds.

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A number of research firms have weighed in on DIOD. Robert W. Baird reaffirmed an “outperform” rating and set a $30.00 target price on shares of Diodes in a research note on Friday, June 9th. Zacks Investment Research raised shares of Diodes from a “hold” rating to a “buy” rating and set a $30.00 target price on the stock in a research note on Friday, August 11th. BidaskClub raised shares of Diodes from a “sell” rating to a “hold” rating in a research note on Monday, July 24th. Finally, Cleveland Research cut shares of Diodes from a “buy” rating to a “neutral” rating in a research note on Thursday, July 20th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company. Diodes currently has a consensus rating of “Hold” and a consensus price target of $30.00.

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.

Earnings History for Diodes (NASDAQ:DIOD)

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