Sumitomo Mitsui Trust Holdings Inc. Lowers Position in Daqo New Energy Corp. (NYSE:DQ)

Sumitomo Mitsui Trust Holdings Inc. reduced its stake in Daqo New Energy Corp. (NYSE:DQ) by 1.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 145,753 shares of the semiconductor company’s stock after selling 1,768 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc. owned approximately 0.19% of Daqo New Energy worth $3,877,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of DQ. Ariose Capital Management Ltd raised its position in Daqo New Energy by 324.8% in the 3rd quarter. Ariose Capital Management Ltd now owns 800,124 shares of the semiconductor company’s stock valued at $24,220,000 after buying an additional 611,755 shares during the last quarter. Mackenzie Financial Corp increased its position in shares of Daqo New Energy by 50.0% during the 3rd quarter. Mackenzie Financial Corp now owns 1,449,737 shares of the semiconductor company’s stock valued at $41,709,000 after purchasing an additional 483,254 shares during the last quarter. FengHe Fund Management Pte. Ltd. purchased a new stake in shares of Daqo New Energy during the 4th quarter valued at $11,480,000. Oaktree Capital Management LP increased its position in shares of Daqo New Energy by 31.2% during the 3rd quarter. Oaktree Capital Management LP now owns 1,350,410 shares of the semiconductor company’s stock valued at $40,877,000 after purchasing an additional 320,789 shares during the last quarter. Finally, UBS Group AG increased its position in shares of Daqo New Energy by 75.2% during the 3rd quarter. UBS Group AG now owns 328,745 shares of the semiconductor company’s stock valued at $9,951,000 after purchasing an additional 141,079 shares during the last quarter. 47.22% of the stock is owned by hedge funds and other institutional investors.

Daqo New Energy Price Performance

Shares of Daqo New Energy stock opened at $23.01 on Wednesday. Daqo New Energy Corp. has a 1 year low of $17.30 and a 1 year high of $48.31. The firm has a market cap of $1.51 billion, a PE ratio of 4.25 and a beta of 0.22. The stock has a fifty day moving average price of $24.25 and a 200-day moving average price of $23.95.

Daqo New Energy (NYSE:DQ) last posted its quarterly earnings results on Wednesday, February 28th. The semiconductor company reported $0.64 earnings per share for the quarter, missing the consensus estimate of $0.84 by ($0.20). The firm had revenue of $477.13 million for the quarter, compared to the consensus estimate of $529.40 million. Daqo New Energy had a return on equity of 6.42% and a net margin of 18.24%. During the same quarter in the previous year, the company posted $4.71 EPS. As a group, equities analysts anticipate that Daqo New Energy Corp. will post 4.06 EPS for the current fiscal year.

Analyst Ratings Changes

Separately, Daiwa Capital Markets reaffirmed an “underperform” rating and set a $25.00 target price on shares of Daqo New Energy in a research report on Friday, March 15th. One research analyst has rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $36.23.

About Daqo New Energy

Daqo New Energy Corp., together with its subsidiaries, manufactures and sells polysilicon to photovoltaic product manufacturers in the People's Republic of China. Its products are used in ingots, wafers, cells, and modules for solar power solutions. The company was formerly known as Mega Stand International Limited and changed its name to Daqo New Energy Corp.