Needham & Company Reiterates Buy, Raises Price Target on Diodes (DIOD)
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Price: $103.48 +6.47%
Rating Summary:
9 Buy, 7 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
9 Buy, 7 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Today Needham & Company reiterated a Buy rating on Diodes (NASDAQ: DIOD) and raised their price target to $22.00 (from $20.00).
DIOD results were solid on the top line but greater than expected OPEX weighed on earnings and prompted an EPS miss, said analyst Vernon Essi, Jr.
“The revenue guidance range midpoint of 4% Q/Q growth was comfortably above its peers and only 3% below consensus. The OPEX guide is higher than expected which weighs on EPS near-term. Mgmt indicated share gains in its markets, particularly in mobile, and Q2 got a lift out of Computing and Industrial,” he said.
Analysts adjusted 2012 revenue/EPS estimates from $637M/$0.90 to $635M/$0.66 and 2013 from $691M/$1.45 to $700M/$1.40.
For an analyst ratings summary and ratings history on Diodes click here. For more ratings news on Diodes click here.
Shares of Diodes closed at $18.91 yesterday.
DIOD results were solid on the top line but greater than expected OPEX weighed on earnings and prompted an EPS miss, said analyst Vernon Essi, Jr.
“The revenue guidance range midpoint of 4% Q/Q growth was comfortably above its peers and only 3% below consensus. The OPEX guide is higher than expected which weighs on EPS near-term. Mgmt indicated share gains in its markets, particularly in mobile, and Q2 got a lift out of Computing and Industrial,” he said.
Analysts adjusted 2012 revenue/EPS estimates from $637M/$0.90 to $635M/$0.66 and 2013 from $691M/$1.45 to $700M/$1.40.
For an analyst ratings summary and ratings history on Diodes click here. For more ratings news on Diodes click here.
Shares of Diodes closed at $18.91 yesterday.
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