STOCK OF THE DAY - DIODES
They used to say stocks that hit $90 hit $100.
We will test that theory today.
Wait for market weakness today and pounce!
Diodes price target raised to $108 from $101 at Truist 07:39 DIOD Truist analyst William… Story temporarily locked. To read stories as they happen please subscribe, Login above, or return tomorrow Get Free Trial Show Related Items >>
Got an upgrade even if I cannot read it.
Diodes price target raised to $110 from $95 at Cowen 07:22 DIOD Cowen analyst Matt Ramsey… Story temporarily locked. To read stories as they happen please subscribe, Login above, or return tomorrow Get Free Trial Show Related Items >>
And another.
Diodes price target raised to $120 from $100 at Baird 07:15 DIOD Baird analyst Tristan… Story temporarily locked. To read stories as they happen please subscribe, Login above, or return tomorrow Get Free Trial Show Related Items >>
And another.
What I find interesting about these three upgrades is they came after a decent report but not outstanding.... $4 mil above
... Diodes sees Q1 revenue $467M plus or minus 3%, consensus $466.93M 16:08 DIOD Dr. Lu concluded, "For the first quarter of 2023,
we expect revenue to be approximately $467 million, plus or minus 3 percent. GAAP
gross margin is expected to be 41.0 percent, plus or minus 1 percent. Even with the revenue and loading decrease in the first quarter, we expect to maintain our gross margin effectively comparable to last quarter and above our target model of 40 percent. Non-GAAP operating expenses, which are GAAP operating expenses adjusted for amortization of acquisition-related intangible assets, are expected to be approximately 22.2 percent of revenue, plus or minus 1 percent. We expect net interest expense to be approximately $2.5 million. Our income tax rate is expected to be 19.0 percent, plus or minus 3 percent, and shares used to calculate diluted EPS for the first quarter are anticipated to be approximately 46.5 million."
>> Diodes reports Q4 adjusted EPS
$1.73, consensus
$1.61 16:07 DIOD <-----------
Reports Q4 revenue
$496.2M, consensus $492.68M. Commenting on the results, Dr. Keh-Shew Lu, Chairman, President and Chief Executive Officer, stated, "In spite of the COVID-related lockdowns and
power outages throughout the year in China as well as the global economic slowdown, we delivered 10.8% annual growth over 2021 and achieved record financial performance across all metrics.
In fact, the fourth quarter represented our ninth consecutive quarter of year-over-year growth. Additionally, our earnings power and cash generation in 2022 were also significant highlights
with gross margin expanding 420 basis points to 41.3%, operating margin expanding 510 basis points to 20.4%, and GAAP EPS increasing 44% to $7.20 and non-GAAP EPS growing 42% to $7.36."
CHINA<--- re opening could be good for DIOD. Not on any firms list like that.
Margins 43% there's alot to like here***
