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

Principal Financial Group Inc. cut its position in shares of Diodes Incorporated (NASDAQ:DIOD) by 12.6% during the third quarter, according to its most recent Form 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.’s holdings in Diodes were worth $14,003,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in DIOD. Arizona State Retirement System increased its position in shares of Diodes by 1.9% in the second quarter. Arizona State Retirement System now owns 12,861 shares of the semiconductor company’s stock valued at $925,000 after buying an additional 236 shares in the last quarter. Oak Associates Ltd. OH raised its position in Diodes by 0.5% during the second quarter. Oak Associates Ltd. OH now owns 54,757 shares of the semiconductor company’s stock worth $3,939,000 after acquiring an additional 284 shares during the period. GAMMA Investing LLC lifted its holdings in Diodes by 68.9% during the third quarter. GAMMA Investing LLC now owns 765 shares of the semiconductor company’s stock valued at $49,000 after purchasing an additional 312 shares in the last quarter. KBC Group NV grew its position in shares of Diodes by 33.9% in the third quarter. KBC Group NV now owns 1,454 shares of the semiconductor company’s stock valued at $93,000 after purchasing an additional 368 shares during the period. Finally, Truvestments Capital LLC purchased a new stake in shares of Diodes during the third quarter worth about $29,000. Institutional investors and hedge funds own 99.23% of the company’s stock.

Diodes Stock Performance

Shares of Diodes stock opened at $64.05 on Friday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.21 and a current ratio of 3.58. The business’s 50 day moving average price is $61.96 and its 200 day moving average price is $66.49. The company has a market cap of $2.97 billion, a price-to-earnings ratio of 48.52 and a beta of 1.34. Diodes Incorporated has a one year low of $52.71 and a one year high of $86.74.

Analyst Ratings Changes

A number of research analysts recently weighed in on DIOD shares. StockNews.com raised shares of Diodes from a “sell” rating to a “hold” rating in a research note on Monday, November 11th. Benchmark lowered their price target 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, Truist Financial decreased their price objective on Diodes from $69.00 to $62.00 and set a “hold” rating on the stock in a report on Friday, November 8th. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target 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.