Principal Financial Group Inc. Sells 31,380 Shares of Diodes Incorporated (NASDAQ:DIOD)

Principal Financial Group Inc. cut its holdings in shares of Diodes Incorporated (NASDAQ:DIOD - Free Report) by 12.6% during the 3rd quarter, according to the company in its most recent filing 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 about 0.47% of Diodes worth $14,003,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in DIOD. GAMMA Investing LLC boosted its position in Diodes by 66.5% during the second quarter. GAMMA Investing LLC now owns 453 shares of the semiconductor company's stock valued at $33,000 after acquiring an additional 181 shares during the last quarter. EntryPoint Capital LLC bought a new position in shares of Diodes during the first quarter valued at about $40,000. Innealta Capital LLC bought a new position in Diodes in the 2nd quarter valued at $88,000. EMC Capital Management raised its holdings in shares of Diodes by 25.8% in the 1st quarter. EMC Capital Management now owns 1,632 shares of the semiconductor company's stock worth $115,000 after purchasing an additional 335 shares during the period. Finally, Hantz Financial Services Inc. bought a new position in Diodes during the second quarter worth about $147,000. 99.23% of the stock is owned by institutional investors.

Diodes Stock Performance

NASDAQ DIOD traded down $2.00 during trading hours on Friday, hitting $53.01. 301,633 shares of the company's stock traded hands, compared to its average volume of 313,578. Diodes Incorporated has a 52 week low of $52.80 and a 52 week high of $86.74. The firm has a market capitalization of $2.46 billion, a P/E ratio of 40.16 and a beta of 1.32. 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 business's fifty day moving average price is $61.91 and its two-hundred day moving average price is $68.71.

Insider Activity

In other Diodes news, SVP Emily Yang sold 1,000 shares of the stock in a transaction on Friday, August 30th. The stock was sold at an average price of $70.48, for a total value of $70,480.00. Following the completion of the sale, the senior vice president now owns 59,820 shares in the company, valued at approximately $4,216,113.60. This represents a 1.64 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Keh Shew Lu sold 20,010 shares of the business's stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now directly owns 246,492 shares in the company, valued at approximately $16,576,587. This represents a 7.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 24,182 shares of company stock valued at $1,640,921 in the last 90 days. Company insiders own 2.30% of the company's stock.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Truist Financial decreased their target price on shares of Diodes from $69.00 to $62.00 and set a "hold" rating on the stock in a report on Friday, November 8th. Benchmark reduced their target price on Diodes from $83.00 to $75.00 and set a "buy" rating on the stock in a research note on Monday, November 11th. Finally, StockNews.com upgraded shares of Diodes from a "sell" rating to a "hold" rating in a report on Monday, November 11th. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and an average target price of $72.80.

About Diodes

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.