California Public Employees Retirement System Decreases Position in Daqo New Energy Corp. (NYSE:DQ)

California Public Employees Retirement System decreased its stake in Daqo New Energy Corp. (NYSE:DQ) by 10.9% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 86,461 shares of the semiconductor company’s stock after selling 10,568 shares during the quarter. California Public Employees Retirement System owned about 0.11% of Daqo New Energy worth $2,300,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of DQ. 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 buying an additional 611,755 shares during the period. Mackenzie Financial Corp boosted its holdings in 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 acquiring an additional 483,254 shares during the period. FengHe Fund Management Pte. Ltd. purchased a new position in Daqo New Energy during the 4th quarter valued at $11,480,000. Oaktree Capital Management LP grew its position in Daqo New Energy by 31.2% in 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 acquiring an additional 320,789 shares during the last quarter. Finally, UBS Group AG increased its stake in Daqo New Energy by 75.2% in the third quarter. UBS Group AG now owns 328,745 shares of the semiconductor company’s stock worth $9,951,000 after purchasing an additional 141,079 shares during the period. Institutional investors own 47.22% of the company’s stock.

Daqo New Energy Price Performance

NYSE:DQ opened at $18.91 on Monday. Daqo New Energy Corp. has a 1-year low of $17.30 and a 1-year high of $45.01. The company has a 50-day moving average of $24.58 and a 200 day moving average of $23.64. The firm has a market cap of $1.24 billion, a PE ratio of 8.88 and a beta of 0.32.

Daqo New Energy (NYSE:DQ) last posted its quarterly earnings results on Monday, April 29th. The semiconductor company reported $0.24 EPS for the quarter, missing the consensus estimate of $0.56 by ($0.32). Daqo New Energy had a net margin of 7.84% and a return on equity of 2.46%. The business had revenue of $415.31 million during the quarter, compared to the consensus estimate of $491.90 million. During the same quarter in the prior year, the firm posted $3.52 EPS. Sell-side analysts anticipate that Daqo New Energy Corp. will post 2.59 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Daiwa Capital Markets reiterated an “underperform” rating and set a $25.00 price objective on shares of Daqo New Energy in a report on Friday, March 15th. Roth Mkm reiterated a “neutral” rating and issued a $23.00 price target on shares of Daqo New Energy in a report on Tuesday, April 30th. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $32.93.

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.