Benchmark Upgrades Diodes (DIOD) to Buy; Becoming the Contrarian
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Price: $24.65 +2.07%
Rating Summary:
5 Buy, 8 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 12 | New: 30
Rating Summary:
5 Buy, 8 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 12 | New: 30
Trade DIOD Now!
Benchmark upgraded Diodes (NASDAQ: DIOD) to Buy. PT $32.
Benchmark analyst says, "Given the cyclical forces influencing Diodes, Inc.'s revenue and gross margin trends, we believe a contrarian investment approach is best for this particular stock. Following the company's June 9th mid-quarter update, in which the company lowered the 2Q11 gross margin outlook, shares dropped approximately 15%. Since reaching a peak in late April, shares have contracted approximately 30%. Following the recent mid-quarter update, consensus estimates have become ultra conservative in our opinion."
For more ratings news on Diodes click here and for the rating history of Diodes click here.
Shares of Diodes closed at $22.98 yesterday, with a 52 week range of $14.50-$34.67.
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Benchmark analyst says, "Given the cyclical forces influencing Diodes, Inc.'s revenue and gross margin trends, we believe a contrarian investment approach is best for this particular stock. Following the company's June 9th mid-quarter update, in which the company lowered the 2Q11 gross margin outlook, shares dropped approximately 15%. Since reaching a peak in late April, shares have contracted approximately 30%. Following the recent mid-quarter update, consensus estimates have become ultra conservative in our opinion."
For more ratings news on Diodes click here and for the rating history of Diodes click here.
Shares of Diodes closed at $22.98 yesterday, with a 52 week range of $14.50-$34.67.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
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