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

Principal Financial Group Inc. lessened its holdings in shares of Diodes Incorporated (NASDAQ:DIOD - Free Report) by 12.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 218,490 shares of the semiconductor company's stock after selling 31,380 shares during the period. Principal Financial Group Inc. owned approximately 0.47% of Diodes worth $14,003,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the business. FMR LLC grew its stake in shares of Diodes by 19.6% during the 3rd quarter. FMR LLC now owns 5,785,134 shares of the semiconductor company's stock worth $370,769,000 after purchasing an additional 947,118 shares during the period. Earnest Partners LLC grew its position in Diodes by 1.4% during the second quarter. Earnest Partners LLC now owns 2,571,188 shares of the semiconductor company's stock worth $184,946,000 after buying an additional 36,390 shares during the period. Dimensional Fund Advisors LP increased its holdings in Diodes by 8.0% in the second quarter. Dimensional Fund Advisors LP now owns 1,913,282 shares of the semiconductor company's stock valued at $137,620,000 after buying an additional 141,610 shares in the last quarter. Victory Capital Management Inc. increased its holdings in Diodes by 130.9% in the third quarter. Victory Capital Management Inc. now owns 1,744,135 shares of the semiconductor company's stock valued at $111,782,000 after buying an additional 988,671 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of Diodes by 3.6% during the 3rd quarter. Geode Capital Management LLC now owns 1,266,052 shares of the semiconductor company's stock valued at $81,154,000 after acquiring an additional 43,841 shares during the period. Hedge funds and other institutional investors own 99.23% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on DIOD. Benchmark dropped their price objective on 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 upgraded Diodes from a "sell" rating to a "hold" rating in a research report on Monday, November 11th. Finally, Truist Financial decreased their price objective on shares of Diodes from $69.00 to $62.00 and set a "hold" rating on the stock in a research report on Friday, November 8th. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $72.80.

Diodes Price Performance

Shares of NASDAQ:DIOD traded down $0.82 on Friday, hitting $64.05. The company had a trading volume of 239,310 shares, compared to its average volume of 351,546. The company has a market cap of $2.97 billion, a PE ratio of 48.52 and a beta of 1.34. The business has a 50 day moving average of $61.96 and a 200 day moving average of $66.49. Diodes Incorporated has a 52-week low of $52.71 and a 52-week high of $86.74. The company has a current ratio of 3.58, a quick ratio of 2.21 and a debt-to-equity ratio of 0.01.

Diodes 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.