Diodes (DIOD) Receives Buy Rating from Robert W. Baird

Robert W. Baird restated their buy rating on shares of Diodes (NASDAQ:DIOD) in a report released on Friday.

“We hosted investor meetings at CES with ONs CEO, CFO and IR. While China looks weaker with a slowdown in industrial and white goods, we believe ON is well-positioned in 2019 with multiple secular and N-T catalysts including: 1) 5G base station growth. No change to estimates; reiterating our Buy-$25PT, as multiple secular catalysts and an attractive valuation position ON well in 2019.”,” Robert W. Baird’s analyst commented.

A number of other brokerages have also recently weighed in on DIOD. ValuEngine cut Diodes from a hold rating to a sell rating in a research report on Monday, October 8th. Sidoti upgraded Diodes from a neutral rating to a buy rating in a research report on Wednesday, September 19th. Zacks Investment Research cut Diodes from a strong-buy rating to a hold rating in a research report on Tuesday. Finally, BidaskClub cut Diodes from a hold rating to a sell rating in a research report on Friday. One research analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the stock. The stock presently has an average rating of Hold and a consensus price target of $38.75.

NASDAQ:DIOD traded up $0.55 during trading hours on Friday, hitting $32.74. The company’s stock had a trading volume of 449,759 shares, compared to its average volume of 515,420. The stock has a market capitalization of $1.56 billion, a price-to-earnings ratio of 23.90 and a beta of 1.08. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.64 and a current ratio of 2.47. Diodes has a 52-week low of $26.09 and a 52-week high of $39.31.

Diodes (NASDAQ:DIOD) last released its quarterly earnings data on Tuesday, November 6th. The semiconductor company reported $0.68 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.63 by $0.05. Diodes had a return on equity of 11.99% and a net margin of 3.75%. The firm had revenue of $320.90 million during the quarter, compared to analysts’ expectations of $321.48 million. During the same quarter in the prior year, the business posted $0.45 earnings per share. Diodes’s revenue was up 12.5% compared to the same quarter last year. On average, analysts predict that Diodes will post 2.35 EPS for the current year.

In related news, CEO Keh Shew Lu sold 28,000 shares of Diodes stock in a transaction dated Monday, November 26th. The stock was sold at an average price of $33.60, for a total transaction of $940,800.00. Following the completion of the sale, the chief executive officer now owns 607,052 shares in the company, valued at approximately $20,396,947.20. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director C H. Chen sold 5,000 shares of Diodes stock in a transaction dated Monday, December 3rd. The stock was sold at an average price of $35.26, for a total value of $176,300.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 50,486 shares of company stock valued at $1,721,241. 6.70% of the stock is currently owned by company insiders.

A number of institutional investors have recently bought and sold shares of DIOD. Glenmede Trust Co. NA increased its position in Diodes by 368,401.2% during the 2nd quarter. Glenmede Trust Co. NA now owns 943,363 shares of the semiconductor company’s stock worth $32,518,000 after purchasing an additional 943,107 shares in the last quarter. Vaughan Nelson Investment Management L.P. purchased a new stake in Diodes during the 3rd quarter worth about $26,780,000. BlackRock Inc. increased its position in Diodes by 8.4% during the 3rd quarter. BlackRock Inc. now owns 6,111,423 shares of the semiconductor company’s stock worth $203,450,000 after purchasing an additional 474,140 shares in the last quarter. Vanguard Group Inc. increased its position in Diodes by 8.6% during the 3rd quarter. Vanguard Group Inc. now owns 4,302,567 shares of the semiconductor company’s stock worth $143,232,000 after purchasing an additional 340,281 shares in the last quarter. Finally, Vanguard Group Inc increased its position in Diodes by 8.6% during the 3rd quarter. Vanguard Group Inc now owns 4,302,567 shares of the semiconductor company’s stock worth $143,232,000 after purchasing an additional 340,281 shares in the last quarter. Hedge funds and other institutional investors own 78.67% of the company’s stock.

About Diodes

Diodes Incorporated, together with its subsidiaries, designs, manufactures, and supplies application-specific standard products in the discrete, logic, and analog and mixed semiconductor markets in Asia, North America, Europe, and internationally. It primarily focuses on low pin count semiconductor devices with one or more active or passive components.

See Also: Fundamental Analysis

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