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

Principal Financial Group Inc. raised its stake in shares of Diodes Incorporated (NASDAQ:DIOD - Free Report) by 2.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 224,797 shares of the semiconductor company's stock after buying an additional 6,307 shares during the period. Principal Financial Group Inc. owned about 0.49% of Diodes worth $13,863,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Creative Planning boosted its position in Diodes by 30.1% in the third quarter. Creative Planning now owns 9,920 shares of the semiconductor company's stock worth $636,000 after purchasing an additional 2,298 shares during the last quarter. Easterly Investment Partners LLC lifted its stake in shares of Diodes by 102.7% in the 3rd quarter. Easterly Investment Partners LLC now owns 14,412 shares of the semiconductor company's stock worth $924,000 after purchasing an additional 7,301 shares during the period. State of New Jersey Common Pension Fund D boosted its holdings in shares of Diodes by 9.6% in the third quarter. State of New Jersey Common Pension Fund D now owns 28,406 shares of the semiconductor company's stock worth $1,821,000 after buying an additional 2,485 shares during the last quarter. Versor Investments LP bought a new stake in Diodes during the third quarter valued at approximately $680,000. Finally, GSA Capital Partners LLP purchased a new stake in Diodes during the third quarter valued at approximately $922,000. 99.23% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Truist Financial dropped their price target on shares of Diodes from $63.00 to $53.00 and set a "hold" rating on the stock in a research note on Wednesday, February 12th. Benchmark lowered their target price on Diodes from $74.00 to $65.00 and set a "buy" rating on the stock in a research report on Wednesday, February 12th. Finally, StockNews.com upgraded Diodes from a "sell" rating to a "hold" rating in a research report on Monday, November 11th.

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Diodes Price Performance

Shares of NASDAQ DIOD traded down $0.76 during midday trading on Friday, reaching $49.38. The stock had a trading volume of 743,589 shares, compared to its average volume of 476,459. The company has a market capitalization of $2.29 billion, a price-to-earnings ratio of 51.98 and a beta of 1.31. Diodes Incorporated has a 12-month low of $48.39 and a 12-month high of $86.74. The stock has a 50-day moving average of $58.82 and a 200-day moving average of $61.49. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.99 and a current ratio of 3.26.

Diodes (NASDAQ:DIOD - Get Free Report) last issued its quarterly earnings results on Tuesday, February 11th. The semiconductor company reported $0.27 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.54 by ($0.27). Diodes had a return on equity of 3.28% and a net margin of 3.36%. As a group, research analysts anticipate that Diodes Incorporated will post 1.82 EPS for the current fiscal year.

Insider Buying and Selling

In related news, SVP Emily Yang sold 950 shares of the firm's stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $56.04, for a total transaction of $53,238.00. Following the completion of the transaction, the senior vice president now directly owns 65,107 shares of the company's stock, valued at approximately $3,648,596.28. This trade represents a 1.44 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Brett R. Whitmire sold 830 shares of Diodes stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $56.04, for a total transaction of $46,513.20. Following the completion of the sale, the chief financial officer now owns 51,525 shares in the company, valued at approximately $2,887,461. This represents a 1.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 4,680 shares of company stock worth $262,267. 2.30% of the stock is owned by corporate insiders.

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.