Diodes Inc. gains on BofA initiation with Buy rating
Shares of semiconductor products maker Diodes rose 3.38% to $107.64 premarket after BofA initiated coverage with a "buy" rating and $135 price target.
64 in premarket trading after BofA began coverage of the semiconductor products maker with a Buy rating and a $135 price target, implying about 30% upside to the last close. BofA said DIOD is well placed to gain market share in automotive, industrial and AI data-center semiconductor markets, citing rising semiconductor content in vehicles and growing AI infrastructure demand as long-term growth drivers. The brokerage said AI data-center revenue, which is currently about 12% of sales, could triple by 2030. As of the last close, the stock was more than doubled year to date.