UPDATE: Morgan Keegan Lowers Price Target On Diodes To $26

According to Morgan Keegan, Diodes DIOD reported June qtr. results of $0.43/$169.8 million versus consensus $0.42/$174.3 million. Morgan Keegan said that EPS upside was driven by lower than anticipated operating expense which came in $600k below expectations and drove $0.02 to the bottom line. “We reiterate our Outperform rating on shares of DIOD due to its exposure to Apple products and our belief that DIOD is positioned to benefit from a recovery in Computing and Consumer. Lowering PT to $28.” Diodes closed yesterday at $19.78.