Mitsubishi UFJ Kokusai Asset Management Co. Ltd. Has $1.98 Million Stake in Daqo New Energy Corp. (NYSE:DQ)

Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its position in shares of Daqo New Energy Corp. (NYSE:DQGet Rating) by 12.0% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 37,376 shares of the semiconductor company’s stock after purchasing an additional 4,009 shares during the quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. owned 0.05% of Daqo New Energy worth $1,984,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. Desjardins Global Asset Management Inc. raised its position in Daqo New Energy by 358.8% in the 3rd quarter. Desjardins Global Asset Management Inc. now owns 4,414 shares of the semiconductor company’s stock valued at $234,000 after buying an additional 3,452 shares during the last quarter. Asset Management One Co. Ltd. raised its position in Daqo New Energy by 7.7% in the 2nd quarter. Asset Management One Co. Ltd. now owns 11,195 shares of the semiconductor company’s stock valued at $799,000 after buying an additional 800 shares during the last quarter. Ronald Blue Trust Inc. raised its position in Daqo New Energy by 243.4% in the 3rd quarter. Ronald Blue Trust Inc. now owns 546 shares of the semiconductor company’s stock valued at $39,000 after buying an additional 387 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec raised its position in Daqo New Energy by 106.9% in the 2nd quarter. Caisse DE Depot ET Placement DU Quebec now owns 22,450 shares of the semiconductor company’s stock valued at $1,602,000 after buying an additional 11,600 shares during the last quarter. Finally, Ariose Capital Management Ltd purchased a new stake in Daqo New Energy in the 2nd quarter valued at $32,564,000.

Daqo New Energy Price Performance

Shares of NYSE:DQ opened at $47.32 on Friday. The company has a market capitalization of $3.53 billion, a PE ratio of 2.22 and a beta of 0.47. The business has a fifty day moving average price of $46.52 and a two-hundred day moving average price of $54.79. Daqo New Energy Corp. has a 1 year low of $32.20 and a 1 year high of $77.18.

Daqo New Energy (NYSE:DQGet Rating) last announced its quarterly earnings data on Thursday, October 27th. The semiconductor company reported $4.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $6.87 by ($2.69). The business had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.10 billion. Daqo New Energy had a net margin of 39.51% and a return on equity of 37.63%. Sell-side analysts anticipate that Daqo New Energy Corp. will post 27.13 earnings per share for the current year.

Wall Street Analyst Weigh In

DQ has been the subject of a number of analyst reports. StockNews.com initiated coverage on Daqo New Energy in a research report on Wednesday, October 12th. They issued a “buy” rating for the company. The Goldman Sachs Group downgraded Daqo New Energy from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $140.00 to $70.00 in a research note on Monday, December 5th. Two investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, Daqo New Energy has a consensus rating of “Moderate Buy” and a consensus price target of $75.00.

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.

Further Reading

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Institutional Ownership by Quarter for Daqo New Energy (NYSE:DQ)

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