Principal Financial Group Inc. Has $6.98 Million Stake in Diodes Incorporated (DIOD)
Principal Financial Group Inc. increased its stake in Diodes Incorporated (NASDAQ:DIOD) by 2.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 290,036 shares of the semiconductor company’s stock after buying an additional 6,719 shares during the period. Principal Financial Group Inc. owned approximately 0.60% of Diodes worth $6,975,000 as of its most recent SEC filing.
Other large investors also recently bought and sold shares of the company. Norges Bank acquired a new stake in shares of Diodes during the fourth quarter worth about $27,794,000. State Street Corp increased its stake in shares of Diodes by 10.8% in the fourth quarter. State Street Corp now owns 889,233 shares of the semiconductor company’s stock worth $22,827,000 after buying an additional 86,685 shares during the period. Ameriprise Financial Inc. increased its stake in shares of Diodes by 2.9% in the first quarter. Ameriprise Financial Inc. now owns 596,454 shares of the semiconductor company’s stock worth $14,344,000 after buying an additional 16,987 shares during the period. Bank of New York Mellon Corp increased its stake in shares of Diodes by 10.6% in the first quarter. Bank of New York Mellon Corp now owns 491,649 shares of the semiconductor company’s stock worth $11,825,000 after buying an additional 47,034 shares during the period. Finally, Renaissance Technologies LLC increased its stake in Diodes by 4.4% in the fourth quarter. Renaissance Technologies LLC now owns 198,827 shares of the semiconductor company’s stock worth $5,104,000 after buying an additional 8,400 shares during the last quarter. Hedge funds and other institutional investors own 75.25% of the company’s stock.
Shares of Diodes Incorporated (NASDAQ DIOD) traded up 1.34% on Monday, hitting $26.53. The stock had a trading volume of 410,648 shares. The stock has a market cap of $1.28 billion, a PE ratio of 70.56 and a beta of 1.22. Diodes Incorporated has a 12 month low of $18.08 and a 12 month high of $27.50. The company has a 50 day moving average price of $25.46 and a 200-day moving average price of $24.86.
Diodes (NASDAQ:DIOD) last released its quarterly earnings results on Tuesday, May 9th. The semiconductor company reported $0.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.05 by $0.09. The business had revenue of $236.30 million for the quarter, compared to the consensus estimate of $231.03 million. Diodes had a net margin of 1.98% and a return on equity of 4.72%. The business’s revenue was up 6.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.12 EPS. On average, equities research analysts anticipate that Diodes Incorporated will post $1.17 earnings per share for the current year.
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A number of equities research analysts have weighed in on DIOD shares. Zacks Investment Research upgraded Diodes from a “hold” rating to a “buy” rating and set a $29.00 price target on the stock in a research report on Friday, May 12th. BidaskClub downgraded Diodes from a “hold” rating to a “sell” rating in a research report on Wednesday, July 5th. Cleveland Research downgraded Diodes from a “buy” rating to a “neutral” rating in a research report on Thursday, July 20th. Finally, Robert W. Baird restated an “outperform” rating and set a $30.00 price target on shares of Diodes in a research report on Friday, June 9th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $29.50.
In related news, SVP Mark A. King sold 25,220 shares of Diodes stock in a transaction that occurred on Tuesday, May 16th. The shares were sold at an average price of $26.54, for a total value of $669,338.80. Following the completion of the transaction, the senior vice president now owns 100,158 shares in the company, valued at $2,658,193.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Keh Shew Lu sold 29,126 shares of Diodes stock in a transaction that occurred on Tuesday, May 16th. The shares were sold at an average price of $26.38, for a total transaction of $768,343.88. Following the completion of the transaction, the chief executive officer now owns 1,095,920 shares of the company’s stock, valued at approximately $28,910,369.60. The disclosure for this sale can be found here. Insiders sold 306,069 shares of company stock valued at $7,989,798 in the last 90 days. Company insiders own 6.70% of the company’s stock.
Diodes Company Profile
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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