Benchmark Upgrades Diodes to Buy

Benchmark upgraded Diodes (NASDAQ: DIOD) from Hold to Buy.

In a research report published today, Benchmark states, "Now that investor expectations have been reset lower, and considering the current valuation multiple, we are upgrading our rating from "Hold" to "Buy". Longer-term, we believe the company's gross margin will recover and, as has been the case for the past 15 years, we believe the company should continue to gain discrete component market share."

At the moment, Benchmark has a price target of $32 placed on the company's stock. On Monday, Diodes closed the day at $22.98. Its shares added some value in today's pre-market trading, however, rising 1.78% to $23.39.