Rhumbline Advisers Acquires 1,470 Shares of Daqo New Energy Corp. (NYSE:DQ)

Rhumbline Advisers boosted its position in Daqo New Energy Corp. (NYSE:DQ) by 22.2% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,104 shares of the semiconductor company’s stock after acquiring an additional 1,470 shares during the quarter. Rhumbline Advisers’ holdings in Daqo New Energy were worth $118,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the business. PNC Financial Services Group Inc. lifted its position in shares of Daqo New Energy by 117.5% in the 4th quarter. PNC Financial Services Group Inc. now owns 1,588 shares of the semiconductor company’s stock worth $42,000 after purchasing an additional 858 shares during the period. Shell Asset Management Co. boosted its position in Daqo New Energy by 20.6% during the 1st quarter. Shell Asset Management Co. now owns 10,734 shares of the semiconductor company’s stock valued at $302,000 after acquiring an additional 1,834 shares in the last quarter. Blue Trust Inc. grew its holdings in shares of Daqo New Energy by 12,187.5% during the 2nd quarter. Blue Trust Inc. now owns 1,966 shares of the semiconductor company’s stock worth $29,000 after acquiring an additional 1,950 shares during the period. Boston Partners raised its position in shares of Daqo New Energy by 3.3% in the 1st quarter. Boston Partners now owns 78,340 shares of the semiconductor company’s stock worth $2,205,000 after acquiring an additional 2,538 shares in the last quarter. Finally, Prelude Capital Management LLC lifted its stake in shares of Daqo New Energy by 0.8% in the 4th quarter. Prelude Capital Management LLC now owns 304,128 shares of the semiconductor company’s stock valued at $8,090,000 after purchasing an additional 2,548 shares during the period. 47.22% of the stock is currently owned by hedge funds and other institutional investors.

Daqo New Energy Trading Up 3.9 %

Shares of NYSE:DQ opened at $20.37 on Tuesday. The company has a market cap of $1.34 billion, a PE ratio of 9.56 and a beta of 0.30. The company’s 50 day moving average is $16.15 and its 200 day moving average is $19.19. Daqo New Energy Corp. has a twelve month low of $13.62 and a twelve month high of $30.09.

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

Daqo New Energy announced that its board has authorized a share repurchase program on Monday, July 22nd that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the semiconductor company to purchase up to 8.6% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s management believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on DQ shares. StockNews.com raised Daqo New Energy to a “sell” rating in a report on Monday, September 23rd. Nomura Securities upgraded shares of Daqo New Energy to a “strong-buy” rating in a research note on Wednesday, August 28th. Hsbc Global Res upgraded Daqo New Energy from a “moderate sell” rating to a “hold” rating in a research note on Tuesday, August 27th. The Goldman Sachs Group initiated coverage on Daqo New Energy in a report on Thursday, July 11th. They issued a “buy” rating for the company. Finally, Roth Mkm lowered their target price on Daqo New Energy from $23.00 to $15.00 and set a “neutral” rating on the stock in a report on Wednesday, August 28th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $22.26.

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.