Diodes (NASDAQ:DIOD) Lowered to “Hold” Rating by Wall Street Zen

Diodes (NASDAQ:DIOD) was downgraded by investment analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued on Saturday.

A number of other research analysts have also recently commented on DIOD. Robert W. Baird raised shares of Diodes from a “neutral” rating to an “outperform” rating and set a $50.00 target price on the stock in a research report on Monday, April 7th. Baird R W raised shares of Diodes from a “hold” rating to a “strong-buy” rating in a research report on Monday, April 7th. Finally, Benchmark reissued a “buy” rating and set a $62.00 price target (up previously from $55.00) on shares of Diodes in a research report on Friday, June 13th. Two investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Diodes currently has a consensus rating of “Moderate Buy” and an average target price of $55.00.

Diodes Trading Down 0.3%

NASDAQ DIOD opened at $50.52 on Friday. The firm’s 50-day moving average is $51.37 and its two-hundred day moving average is $49.26. Diodes has a 12 month low of $32.93 and a 12 month high of $81.88. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.43 and a quick ratio of 2.11. The stock has a market capitalization of $2.34 billion, a P/E ratio of 91.85 and a beta of 1.46.

Diodes (NASDAQ:DIOD) last posted its earnings results on Thursday, May 8th. The semiconductor company reported $0.19 EPS for the quarter, beating analysts’ consensus estimates of $0.18 by $0.01. Diodes had a net margin of 1.90% and a return on equity of 3.04%. The company had revenue of $332.11 million for the quarter, compared to analysts’ expectations of $323.28 million. During the same quarter in the prior year, the company posted $0.28 earnings per share. Diodes’s revenue for the quarter was up 10.0% compared to the same quarter last year. On average, sell-side analysts anticipate that Diodes will post 1.82 earnings per share for the current year.

Diodes announced that its Board of Directors has initiated a stock buyback program on Thursday, May 8th that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the semiconductor company to buy up to 5.4% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s board believes its shares are undervalued.

Institutional Trading of Diodes

Several hedge funds have recently made changes to their positions in the business. Pitcairn Co. lifted its position in shares of Diodes by 4.2% during the fourth quarter. Pitcairn Co. now owns 5,208 shares of the semiconductor company’s stock worth $321,000 after purchasing an additional 208 shares in the last quarter. Verdence Capital Advisors LLC increased its stake in shares of Diodes by 2.8% during the second quarter. Verdence Capital Advisors LLC now owns 7,764 shares of the semiconductor company’s stock worth $411,000 after buying an additional 213 shares during the period. Parallel Advisors LLC increased its stake in shares of Diodes by 52.0% during the second quarter. Parallel Advisors LLC now owns 757 shares of the semiconductor company’s stock worth $40,000 after buying an additional 259 shares during the period. Summit Investment Advisors Inc. increased its stake in shares of Diodes by 5.8% during the fourth quarter. Summit Investment Advisors Inc. now owns 4,772 shares of the semiconductor company’s stock worth $294,000 after buying an additional 262 shares during the period. Finally, Fifth Third Bancorp increased its stake in shares of Diodes by 85.8% during the second quarter. Fifth Third Bancorp now owns 628 shares of the semiconductor company’s stock worth $33,000 after buying an additional 290 shares during the period. Institutional investors and hedge funds own 99.23% of the company’s stock.

About Diodes

Diodes Incorporated, together with its subsidiaries, manufactures and supplies application-specific standard products in the broad discrete, logic, analog, and mixed-signal semiconductor markets worldwide. The company offers discrete semiconductor products, such as MOSFETs, SiC MOSFETs; data line protection, power line protection, thyristers, USB Type-C protection, and transient voltage suppressors; Schottky, small signal switching, Zener, and SiC diodes; bridges, super barrier, Schottky, Schottky bridge, and fast/ultra-fast rectifiers; and bipolar, avalanche, gate driver, and pre-bias transistors.