Daqo New Energy Corp. (NYSE:DQ) Stock Position Decreased by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. lessened its stake in shares of Daqo New Energy Corp. (NYSE:DQ – Get Rating) by 23.6% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 32,510 shares of the semiconductor company’s stock after selling 10,038 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Daqo New Energy were worth $1,255,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in DQ. E Fund Management Hong Kong Co. Ltd. increased its stake in Daqo New Energy by 137.6% in the 1st quarter. E Fund Management Hong Kong Co. Ltd. now owns 34,476 shares of the semiconductor company’s stock valued at $1,483,000 after buying an additional 19,965 shares during the period. JPMorgan Chase & Co. increased its stake in shares of Daqo New Energy by 67.8% in the first quarter. JPMorgan Chase & Co. now owns 161,748 shares of the semiconductor company’s stock worth $6,684,000 after acquiring an additional 65,361 shares during the last quarter. American Century Companies Inc. raised its holdings in shares of Daqo New Energy by 8.0% during the first quarter. American Century Companies Inc. now owns 33,487 shares of the semiconductor company’s stock worth $1,384,000 after acquiring an additional 2,490 shares in the last quarter. US Bancorp DE boosted its position in Daqo New Energy by 89.0% during the first quarter. US Bancorp DE now owns 1,981 shares of the semiconductor company’s stock valued at $82,000 after purchasing an additional 933 shares during the last quarter. Finally, HighTower Advisors LLC purchased a new position in Daqo New Energy in the first quarter valued at about $324,000.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on DQ. HSBC raised their price target on Daqo New Energy from $44.60 to $45.60 in a research note on Monday, May 1st. StockNews.com initiated coverage on Daqo New Energy in a report on Thursday, May 18th. They issued a “hold” rating on the stock. Finally, Daiwa Capital Markets raised Daqo New Energy from a “neutral” rating to an “outperform” rating in a research report on Thursday, May 4th.

Daqo New Energy Stock Performance

NYSE DQ opened at $39.74 on Wednesday. Daqo New Energy Corp. has a twelve month low of $36.91 and a twelve month high of $77.18. The stock has a market cap of $2.96 billion, a PE ratio of 1.93 and a beta of 0.51. The firm has a 50-day simple moving average of $44.88 and a 200 day simple moving average of $46.09.

Daqo New Energy (NYSE:DQ – Get Rating) last announced its quarterly earnings data on Tuesday, February 28th. The semiconductor company reported $4.71 EPS for the quarter. The company had revenue of $864.25 million during the quarter, compared to the consensus estimate of $1.13 billion. Daqo New Energy had a return on equity of 25.68% and a net margin of 39.70%. Research analysts forecast that Daqo New Energy Corp. will post 17.61 earnings per share for the current fiscal year.

About Daqo New Energy

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Daqo New Energy Corp. is a holding company, which engages in the provision of polysilicon products. It involves in the manufacture and sale of polysilicon to photovoltaic product manufactures, who further process the polysilicon into ingots, wafers, cells, and modules for solar power solutions. The company was founded by Guang Fu Xu on November 22, 2007 and is headquartered in Shanghai, China.