Principal Financial Group Inc. Has $9.96 Million Stake in Diodes Incorporated (NASDAQ:DIOD)

Principal Financial Group Inc. raised its position in Diodes Incorporated (NASDAQ:DIOD - Free Report) by 2.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 230,728 shares of the semiconductor company's stock after purchasing an additional 5,931 shares during the quarter. Principal Financial Group Inc. owned approximately 0.50% of Diodes worth $9,961,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Hood River Capital Management LLC bought a new stake in shares of Diodes during the 4th quarter worth about $72,037,000. Norges Bank acquired a new position in shares of Diodes in the 4th quarter worth approximately $33,933,000. Dimensional Fund Advisors LP grew its position in Diodes by 8.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,238,567 shares of the semiconductor company's stock worth $138,053,000 after acquiring an additional 168,545 shares during the last quarter. JPMorgan Chase & Co. grew its position in Diodes by 55.9% during the 4th quarter. JPMorgan Chase & Co. now owns 353,595 shares of the semiconductor company's stock worth $21,806,000 after acquiring an additional 126,853 shares during the last quarter. Finally, FMR LLC grew its position in Diodes by 2.0% during the 4th quarter. FMR LLC now owns 5,902,006 shares of the semiconductor company's stock worth $363,977,000 after acquiring an additional 116,872 shares during the last quarter. Hedge funds and other institutional investors own 99.23% of the company's stock.

Wall Street Analyst Weigh In

DIOD has been the topic of a number of recent research reports. Benchmark reiterated a "buy" rating and issued a $62.00 price objective (up from $55.00) on shares of Diodes in a research report on Friday, June 13th. Baird R W raised Diodes from a "hold" rating to a "strong-buy" rating in a research note on Monday, April 7th. Finally, Robert W. Baird raised Diodes from a "neutral" rating to an "outperform" rating and set a $50.00 price objective on the stock in a research note on Monday, April 7th. Two research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $55.00.

Diodes Stock Up 0.1%

Shares of DIOD traded up $0.06 during midday trading on Friday, hitting $55.51. The stock had a trading volume of 94,212 shares, compared to its average volume of 449,522. The company has a 50 day simple moving average of $50.74 and a two-hundred day simple moving average of $49.68. Diodes Incorporated has a twelve month low of $32.93 and a twelve month high of $84.90. The firm has a market cap of $2.58 billion, a price-to-earnings ratio of 101.00 and a beta of 1.46. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.43 and a quick ratio of 2.11.

Diodes (NASDAQ:DIOD - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The semiconductor company reported $0.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.18 by $0.01. Diodes had a return on equity of 3.04% and a net margin of 1.90%. The firm had revenue of $332.11 million for the quarter, compared to the consensus estimate of $323.28 million. During the same quarter last year, the business posted $0.28 EPS. The company's revenue for the quarter was up 10.0% on a year-over-year basis. On average, analysts anticipate that Diodes Incorporated will post 1.82 EPS for the current year.

Diodes announced that its board has authorized a share repurchase plan on Thursday, May 8th that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the semiconductor company to purchase up to 5.4% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company's management believes its shares are undervalued.

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.