Principal Financial Group Inc. Has $8.97 Million Stake in Diodes Incorporated (DIOD)
Principal Financial Group Inc. cut its holdings in shares of Diodes Incorporated (NASDAQ:DIOD) by 0.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 299,617 shares of the semiconductor company’s stock after selling 2,695 shares during the period. Principal Financial Group Inc. owned approximately 0.61% of Diodes worth $8,968,000 at the end of the most recent reporting period.
Several other institutional investors have also added to or reduced their stakes in the stock. Arizona State Retirement System boosted its position in shares of Diodes by 0.5% during the second quarter. Arizona State Retirement System now owns 19,975 shares of the semiconductor company’s stock valued at $480,000 after buying an additional 100 shares during the last quarter. Louisiana State Employees Retirement System boosted its position in shares of Diodes by 0.6% during the second quarter. Louisiana State Employees Retirement System now owns 15,600 shares of the semiconductor company’s stock valued at $375,000 after buying an additional 100 shares during the last quarter. Nisa Investment Advisors LLC boosted its position in shares of Diodes by 1.8% during the second quarter. Nisa Investment Advisors LLC now owns 14,220 shares of the semiconductor company’s stock valued at $342,000 after buying an additional 250 shares during the last quarter. Texas Permanent School Fund boosted its position in shares of Diodes by 1.0% during the second quarter. Texas Permanent School Fund now owns 27,901 shares of the semiconductor company’s stock valued at $670,000 after buying an additional 274 shares during the last quarter. Finally, Public Employees Retirement System of Ohio boosted its position in shares of Diodes by 10.1% during the first quarter. Public Employees Retirement System of Ohio now owns 8,745 shares of the semiconductor company’s stock valued at $210,000 after buying an additional 800 shares during the last quarter. 74.74% of the stock is currently owned by institutional investors.
DIOD has been the topic of several recent analyst reports. Sidoti initiated coverage on Diodes in a research report on Thursday, September 21st. They set a “neutral” rating and a $32.00 price objective on the stock. ValuEngine cut Diodes from a “buy” rating to a “hold” rating in a research report on Wednesday, November 15th. Benchmark cut Diodes from a “buy” rating to a “hold” rating in a research report on Monday, October 30th. Zacks Investment Research raised Diodes from a “hold” rating to a “strong-buy” rating and set a $38.00 target price on the stock in a research report on Tuesday, October 17th. Finally, Robert W. Baird reissued a “buy” rating and issued a $37.00 target price on shares of Diodes in a research report on Tuesday, October 17th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $35.67.
In other news, CEO Keh Shew Lu sold 69,983 shares of Diodes stock in a transaction dated Tuesday, October 10th. The stock was sold at an average price of $31.20, for a total transaction of $2,183,469.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Francis Tang sold 3,800 shares of Diodes stock in a transaction that occurred on Wednesday, September 27th. The shares were sold at an average price of $29.67, for a total value of $112,746.00. Following the sale, the vice president now directly owns 66,072 shares in the company, valued at approximately $1,960,356.24. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 467,486 shares of company stock worth $14,390,020. Insiders own 7.00% of the company’s stock.
Diodes Incorporated (DIOD) opened at $28.52 on Wednesday. Diodes Incorporated has a 12-month low of $22.06 and a 12-month high of $35.36. The company has a debt-to-equity ratio of 0.34, a quick ratio of 2.18 and a current ratio of 3.12. The firm has a market capitalization of $1,435.28, a PE ratio of 26.42 and a beta of 1.15.
Diodes (NASDAQ:DIOD) last posted its quarterly earnings data on Tuesday, November 7th. The semiconductor company reported $0.45 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.44 by $0.01. Diodes had a return on equity of 6.44% and a net margin of 2.96%. The firm had revenue of $285.20 million for the quarter, compared to analysts’ expectations of $281.66 million. During the same period in the previous year, the firm earned $0.30 EPS. The business’s quarterly revenue was up 13.8% on a year-over-year basis. sell-side analysts predict that Diodes Incorporated will post 1.35 earnings per share for the current year.
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Diodes Incorporated is a manufacturer and supplier of application-specific standard products within the discrete, logic, analog and mixed-signal semiconductor markets, serving the consumer electronics, computing, communications, industrial and automotive markets. The Company’s products include diodes; rectifiers; transistors; metal-oxide semiconductor field-effect transistors (MOSFETs); protection devices; amplifiers and comparators; Hall-effect and temperature sensors, and power management devices, including light emitting diode (LED) drivers, alternating current (AC)-direct current (DC) and DC-DC switching, linear voltage regulators and voltage references, along with special function devices, such as universal serial bus (USB) power switches, load switches, voltage supervisors and motor controllers.
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