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.
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