Principal Financial Group Inc. Reduces Holdings in Diodes Incorporated (NASDAQ:DIOD)

Principal Financial Group Inc. cut its stake in Diodes Incorporated (NASDAQ:DIOD) by 12.6% in the third quarter, Holdings Channel.com reports. The fund owned 218,490 shares of the semiconductor company’s stock after selling 31,380 shares during the quarter. Principal Financial Group Inc.’s holdings in Diodes were worth $14,003,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of DIOD. Janney Montgomery Scott LLC boosted its holdings in shares of Diodes by 77.0% in the first quarter. Janney Montgomery Scott LLC now owns 8,227 shares of the semiconductor company’s stock valued at $580,000 after acquiring an additional 3,580 shares during the period. SG Americas Securities LLC purchased a new stake in Diodes in the 1st quarter valued at $183,000. ProShare Advisors LLC boosted its stake in Diodes by 7.4% during the 1st quarter. ProShare Advisors LLC now owns 9,126 shares of the semiconductor company’s stock worth $643,000 after purchasing an additional 627 shares during the period. State Board of Administration of Florida Retirement System grew its position in Diodes by 30.8% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 16,875 shares of the semiconductor company’s stock worth $1,190,000 after purchasing an additional 3,972 shares during the last quarter. Finally, Vanguard Group Inc. increased its stake in Diodes by 2.3% in the first quarter. Vanguard Group Inc. now owns 5,782,828 shares of the semiconductor company’s stock valued at $407,689,000 after purchasing an additional 132,101 shares during the period. Institutional investors and hedge funds own 99.23% of the company’s stock.

Insider Activity

In related news, SVP Emily Yang sold 1,272 shares of Diodes stock in a transaction on Monday, August 26th. The stock was sold at an average price of $72.16, for a total transaction of $91,787.52. Following the completion of the transaction, the senior vice president now directly owns 29,028 shares of the company’s stock, valued at approximately $2,094,660.48. The trade was a 4.20 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Keh Shew Lu sold 20,010 shares of the business’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $67.25, for a total value of $1,345,672.50. Following the sale, the chief executive officer now owns 246,492 shares in the company, valued at approximately $16,576,587. The trade was a 7.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 24,182 shares of company stock valued at $1,640,921 in the last three months. 2.30% of the stock is currently owned by company insiders.

Diodes Price Performance

Shares of DIOD opened at $53.01 on Friday. The company has a current ratio of 3.58, a quick ratio of 2.21 and a debt-to-equity ratio of 0.01. The stock’s 50 day moving average is $61.91 and its two-hundred day moving average is $68.71. Diodes Incorporated has a twelve month low of $52.80 and a twelve month high of $86.74. The firm has a market capitalization of $2.46 billion, a PE ratio of 40.16 and a beta of 1.32.

Wall Street Analyst Weigh In

DIOD has been the subject of several recent research reports. Benchmark decreased their target price on shares of Diodes from $83.00 to $75.00 and set a “buy” rating for the company in a research note on Monday, November 11th. StockNews.com raised Diodes from a “sell” rating to a “hold” rating in a research report on Monday, November 11th. Finally, Truist Financial dropped their target price on Diodes from $69.00 to $62.00 and set a “hold” rating on the stock in a report on Friday, November 8th. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, Diodes presently has a consensus rating of “Hold” and a consensus target price of $72.80.

Diodes Company Profile

Diodes Incorporated, together with its subsidiaries, manufactures and supplies application-specific standard products in the broad discrete, logic, analog, and mixed-signal semiconductor markets worldwide. The company offers discrete semiconductor products, such as MOSFETs, SiC MOSFETs; data line protection, power line protection, thyristers, USB Type-C protection, and transient voltage suppressors; Schottky, small signal switching, Zener, and SiC diodes; bridges, super barrier, Schottky, Schottky bridge, and fast/ultra-fast rectifiers; and bipolar, avalanche, gate driver, and pre-bias transistors.