Principal Financial Group Inc. Cuts Stock Position in Diodes Incorporated (NASDAQ:DIOD)

Principal Financial Group Inc. reduced its position in Diodes Incorporated (NASDAQ:DIOD) by 12.6% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 218,490 shares of the semiconductor company’s stock after selling 31,380 shares during the period. Principal Financial Group Inc. owned 0.47% of Diodes worth $14,003,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Bank of New York Mellon Corp grew its holdings in Diodes by 27.2% in the second quarter. Bank of New York Mellon Corp now owns 604,153 shares of the semiconductor company’s stock worth $43,457,000 after purchasing an additional 129,195 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Diodes by 18.5% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,356 shares of the semiconductor company’s stock worth $745,000 after buying an additional 1,614 shares during the last quarter. Hantz Financial Services Inc. acquired a new position in Diodes during the 2nd quarter valued at about $147,000. Natixis Advisors LLC boosted its holdings in Diodes by 22.1% in the second quarter. Natixis Advisors LLC now owns 99,470 shares of the semiconductor company’s stock worth $7,155,000 after acquiring an additional 18,009 shares in the last quarter. Finally, Rhumbline Advisers grew its stake in shares of Diodes by 2.4% during the second quarter. Rhumbline Advisers now owns 136,255 shares of the semiconductor company’s stock worth $9,801,000 after acquiring an additional 3,198 shares during the last quarter. Hedge funds and other institutional investors own 99.23% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on DIOD. Truist Financial lowered their target price on shares of Diodes from $69.00 to $62.00 and set a “hold” rating for the company in a research note on Friday, November 8th. Benchmark dropped their price objective on shares of Diodes from $83.00 to $75.00 and set a “buy” rating on the stock in a report on Monday, November 11th. Finally, StockNews.com upgraded Diodes from a “sell” rating to a “hold” rating in a research note on Monday, November 11th. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, Diodes has an average rating of “Hold” and a consensus target price of $72.80.

Diodes Trading Down 1.3 %

NASDAQ DIOD opened at $64.05 on Friday. The company has a fifty day moving average of $61.96 and a 200 day moving average of $66.49. The company has a market capitalization of $2.97 billion, a PE ratio of 48.52 and a beta of 1.34. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.58 and a quick ratio of 2.21. Diodes Incorporated has a 1 year low of $52.71 and a 1 year high of $86.74.

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.