American Century Companies Inc. Purchases 10,942 Shares of Daqo New Energy Corp. (NYSE:DQ)

American Century Companies Inc. lifted its holdings in Daqo New Energy Corp. (NYSE:DQ) by 6.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 170,368 shares of the semiconductor company’s stock after buying an additional 10,942 shares during the quarter. American Century Companies Inc.’s holdings in Daqo New Energy were worth $2,487,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Sylebra Capital LLC bought a new stake in Daqo New Energy during the first quarter worth about $13,025,000. BNP Paribas Financial Markets boosted its position in shares of Daqo New Energy by 142.1% in the 1st quarter. BNP Paribas Financial Markets now owns 696,865 shares of the semiconductor company’s stock worth $19,617,000 after purchasing an additional 409,057 shares in the last quarter. Jupiter Asset Management Ltd. bought a new position in Daqo New Energy during the 1st quarter valued at approximately $9,647,000. Ariose Capital Management Ltd raised its stake in Daqo New Energy by 23.9% during the second quarter. Ariose Capital Management Ltd now owns 1,181,124 shares of the semiconductor company’s stock valued at $17,244,000 after buying an additional 228,200 shares during the last quarter. Finally, Franchise Capital Ltd bought a new stake in Daqo New Energy in the fourth quarter worth $4,788,000. 47.22% of the stock is currently owned by institutional investors.

Daqo New Energy Stock Up 5.8 %

Shares of DQ stock opened at $19.62 on Friday. The company has a 50 day moving average price of $16.09 and a 200-day moving average price of $19.38. Daqo New Energy Corp. has a 52 week low of $13.62 and a 52 week high of $31.11. The firm has a market capitalization of $1.30 billion, a PE ratio of 9.21 and a beta of 0.30.

Daqo New Energy (NYSE:DQ) last posted its earnings results on Monday, August 26th. The semiconductor company reported ($1.81) EPS for the quarter, missing analysts’ consensus estimates of ($0.56) by ($1.25). The company had revenue of $219.91 million during the quarter, compared to the consensus estimate of $406.50 million. Daqo New Energy had a negative return on equity of 1.04% and a negative net margin of 4.11%. During the same period last year, the firm posted $1.34 EPS. Analysts anticipate that Daqo New Energy Corp. will post -3.35 earnings per share for the current year.

Daqo New Energy announced that its board has approved a stock buyback plan on Monday, July 22nd that allows the company to buyback $100.00 million in shares. This buyback authorization allows the semiconductor company to buy up to 8.6% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Jefferies Financial Group reduced their price target on Daqo New Energy from $38.40 to $34.05 and set a “buy” rating for the company in a report on Monday, August 26th. Roth Mkm decreased their target price on shares of Daqo New Energy from $23.00 to $15.00 and set a “neutral” rating for the company in a report on Wednesday, August 28th. The Goldman Sachs Group began coverage on shares of Daqo New Energy in a research note on Thursday, July 11th. They issued a “buy” rating on the stock. Hsbc Global Res raised shares of Daqo New Energy from a “moderate sell” rating to a “hold” rating in a research report on Tuesday, August 27th. Finally, StockNews.com raised Daqo New Energy to a “sell” rating in a research report on Monday, September 23rd. Two analysts have rated the stock with a sell rating, three have issued a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Daqo New Energy has an average rating of “Hold” and an average target price of $22.26.

Daqo New Energy 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.