UBS Maintains a 'Neutral' on Diodes (DIOD); Lower than Expected Results and Outlook

UBS maintains a 'Neutral' on Diodes (NASDAQ: DIOD), lowers price target to $22 from $27.

UBS analyst says, "Q2 revenue growth of 5% comes in at the low end of revised guidance...Healthy design win pipe, but macro to weigh on near/medium term trends...Lowering C11/12E EPS by -10%/-14% on lower demand and margin view - Our Q3E sales/GAAP EPS declines -10%/-22% to $163m/$0.32 on the outlook with C11E sales declining -6% to $661m and lower gross margin of 33.4% (was 34.0%) that leads EPS to decline to $1.52. C12E sales decline -10% to $695m on the lower sales base and EPS declines to $1.66 on gross margin of 33.0% (was 34.2%)."

For more ratings news on Diodes click here and for the rating history of Diodes click here.

Shares of Diodes closed at $19.78 yesterday.

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• Diodes Incorporated prices $325M convertible notes due 2031
• Diodes Incorporated Announces Proposed Private Placement of $325 Million of Convertible Senior Notes
• Jefferies on Five Below (FIVE): 'Our latest channel checks reinforce our view that FIVE's momentum extends well beyond viral Squish trends'