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

Diodes (NASDAQ:DIOD) was upgraded by research analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research note issued on Tuesday, Zacks reports.

Several other research analysts have also weighed in on the stock. Wells Fargo & Company set a $135.00 target price on shares of Diodes in a research report on Tuesday, October 6th. Bank of America initiated coverage on Diodes in a research note on Tuesday, October 6th. They set a “buy” rating and a $135.00 price objective on the stock. Wall Street Zen upgraded Diodes from a “buy” rating to a “strong-buy” rating in a research report on Saturday, October 24th. Robert W. Baird set a $192.00 target price on shares of Diodes in a research note on Thursday, August 6th. Finally, Truist Financial reduced their target price on shares of Diodes from $139.00 to $133.00 and set a “buy” rating on the stock in a report on Thursday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, Diodes has an average rating of “Buy” and a consensus target price of $129.17.

Diodes Stock Performance

NASDAQ:DIOD opened at $91.27 on Tuesday. 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 firm has a market cap of $4.17 billion, a price-to-earnings ratio of 36.65 and a beta of 1.96. The firm’s fifty day moving average price is $90.00 and its 200 day moving average price is $88.39. Diodes has a 1-year low of $42.28 and a 1-year high of $125.99.

Diodes (NASDAQ:DIOD) last announced its quarterly earnings data on Thursday, November 5th. The semiconductor company reported $1.18 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 during the quarter, compared to the consensus estimate of $512.94 million. During the same quarter in the prior year, the firm earned $0.37 EPS. Diodes’s quarterly revenue was up 35.8% on a year-over-year basis. On average, sell-side analysts expect that Diodes will post 3.66 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of DIOD. BlackRock Inc. acquired a new stake in shares of Diodes during the second quarter worth $803,920,000. William Blair Investment Management LLC acquired a new position in Diodes in the second quarter valued at $184,153,000. Dimensional Fund Advisors LP lifted its position in Diodes by 2.3% during the first quarter. Dimensional Fund Advisors LP now owns 2,436,359 shares of the semiconductor company’s stock worth $166,294,000 after buying an additional 53,934 shares during the period. Andar Capital Management HK Ltd purchased a new position in Diodes during the second quarter worth about $80,000,000. Finally, Artemis Investment Management LLP lifted its position in Diodes by 28.3% during the third quarter. Artemis Investment Management LLP now owns 450,633 shares of the semiconductor company’s stock worth $43,617,000 after buying an additional 99,286 shares during the period. 99.23% of the stock is currently owned by institutional investors and hedge funds.

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.