Sumitomo Mitsui Trust Holdings Inc. Sells 1,768 Shares of Daqo New Energy Corp. (NYSE:DQ)

Sumitomo Mitsui Trust Holdings Inc. reduced its holdings in Daqo New Energy Corp. (NYSE:DQ) by 1.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. 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.’s holdings in Daqo New Energy were worth $3,877,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Mackenzie Financial Corp boosted its position in shares of Daqo New Energy by 50.0% during the third 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 in the last quarter. Oslo Asset Management AS boosted its position in shares of Daqo New Energy by 19.2% during the third quarter. Oslo Asset Management AS now owns 155,000 shares of the semiconductor company’s stock valued at $4,692,000 after purchasing an additional 25,000 shares in the last quarter. Ariose Capital Management Ltd boosted its position in shares of Daqo New Energy by 324.8% during the third quarter. Ariose Capital Management Ltd now owns 800,124 shares of the semiconductor company’s stock valued at $24,220,000 after purchasing an additional 611,755 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its position in shares of Daqo New Energy by 1.2% during the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 46,845 shares of the semiconductor company’s stock valued at $1,418,000 after purchasing an additional 566 shares in the last quarter. Finally, Barclays PLC boosted its position in shares of Daqo New Energy by 97.6% during the third quarter. Barclays PLC now owns 157,665 shares of the semiconductor company’s stock valued at $4,772,000 after purchasing an additional 77,890 shares in the last quarter. 47.22% of the stock is currently owned by institutional investors.

Daqo New Energy Trading Up 3.2 %

Daqo New Energy stock opened at $23.01 on Wednesday. The business’s fifty day simple moving average is $24.25 and its two-hundred day simple moving average is $23.95. Daqo New Energy Corp. has a 12 month low of $17.30 and a 12 month high of $48.31. The company has a market capitalization of $1.51 billion, a price-to-earnings ratio of 4.25 and a beta of 0.22.

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

Wall Street Analysts Forecast Growth

Separately, Daiwa Capital Markets restated an “underperform” rating and set a $25.00 price target 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 issued a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $36.23.

Daqo New Energy Company Profile

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.