Diodes Incorporated (NASDAQ:DIOD) settled an agreement to purchase fellow chip maker BCD against$151 million, it a step to expand company’s analog product portfolio and widening its existence in the market of China.
DIOD to purchase BCD Semiconductor Manufacturing (NASDAQ:BCDS) American Depositary’s each Share against$8 per share, which represents just over double share price of BCDS of Wednesday’s market close. BCDS’s shares surged almost 48% during after hours of trading.
This transaction will augment the market and margin expansion opportunities by leveraging Diodes’ cost-effective packaging and manufacturing capabilities.
It will also Increases design and manufacturing capabilities for augmented capacity and scale; and probable to result in revenue, cost and operating synergies.
Diodes Incorporated (NASDAQ:DIOD)’s stock traded at beginning with a price of $16.87 and throughout the trading session climbed at a high of $17.08 and later when day-trade ended the stock finally advanced +0.65% to $16.91.
Shares price of DIOD moved up from its 20 days moving average with +6.65% and remote positively from 50 days moving average with +10.96%. DIOD’s current year’s earnings per share experienced an addition with -35.53% while its current quarter performance remained -4.46%.
DIOD had a trade volume of 97,500 shares which was lower as compared to average trading capacity of 234,548.00 shares.
DIOD’s last month’s stock price volatility remained 3.24%. In its share capital DIOD has 46.01 million outstanding shares among them 35.97 million shares have been floated in market exchange. DIOD stock insider ownership included 0.04%.
The stock is ahead of its 52-week low with +30.58% and lagging behind from its 52 weeks high price with -38.67%.
