Diodes (Nasdaq: DIOD) is expected to report Q2 earnings on Wednesday. Here's what Wall Street wants to see:

The 10-second takeaway
Comparing the upcoming quarter to the prior-year quarter, average analyst estimates predict Diodes's revenues will wane -6.0% and EPS will contract -55.8%.

The average estimate for revenue is $159.6 million. On the bottom line, the average EPS estimate is $0.19.

Revenue details
Last quarter, Diodes reported revenue of $144.7 million. GAAP reported sales were 10% lower than the prior-year quarter's $161.6 million.

My

Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.

EPS details
Last quarter, non-GAAP EPS came in at $0.09. GAAP EPS of $0.10 for Q1 were 76% lower than the prior-year quarter's $0.42 per share.

Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.

Recent performance
For the preceding quarter, gross margin was 23.3%, 1,220 basis points worse than the prior-year quarter. Operating margin was 3.8%, 1,370 basis points worse than the prior-year quarter. Net margin was 3.4%, 880 basis points worse than the prior-year quarter.

Looking ahead
The full year's average estimate for revenue is $652.3 million. The average EPS estimate is $0.94.

Investor sentiment
The stock has a two-star rating (out of five) at Motley Fool CAPS, with 215 members rating the stock outperform and 16 members rating it underperform. Among 57 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 54 give Diodes a green thumbs-up, and three give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Diodes is outperform, with an average price target of $28.29.

New mobile devices are changing the game, and potential profitability, at many semiconductor companies. Some will fail, some will tread water, and those in the right devices will shine. Where does Diodes fit in? Who will lead going forward? Check out "3 Hidden Winners of the iPhone, iPad, and Android Revolution." Click here for instant access to this free report.