State of Wisconsin Investment Board Invests $920,000 in Daqo New Energy Corp (DQ)
State of Wisconsin Investment Board bought a new stake in Daqo New Energy Corp (NYSE:DQ) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 15,485 shares of the semiconductor company’s stock, valued at approximately $920,000.
Several other institutional investors have also made changes to their positions in the company. Penserra Capital Management LLC acquired a new position in shares of Daqo New Energy in the 4th quarter valued at $6,955,000. US Bancorp DE acquired a new position in Daqo New Energy in the 4th quarter valued at $801,000. Acadian Asset Management LLC increased its stake in Daqo New Energy by 204.9% in the 4th quarter. Acadian Asset Management LLC now owns 395,275 shares of the semiconductor company’s stock valued at $23,494,000 after buying an additional 265,634 shares during the period. Bank of Montreal Can acquired a new position in Daqo New Energy in the 4th quarter valued at $577,000. Finally, Susquehanna International Group LLP acquired a new position in Daqo New Energy in the 3rd quarter valued at $490,000. 29.57% of the stock is currently owned by institutional investors and hedge funds.
Several brokerages have issued reports on DQ. TheStreet raised shares of Daqo New Energy from a “c+” rating to a “b” rating in a research note on Wednesday, November 15th. Zacks Investment Research raised shares of Daqo New Energy from a “hold” rating to a “strong-buy” rating and set a $50.00 price objective on the stock in a research note on Monday, November 20th. Roth Capital set a $65.00 price objective on shares of Daqo New Energy and gave the company a “buy” rating in a research note on Monday, December 4th. Finally, Tudor Pickering cut shares of Daqo New Energy from a “buy” rating to a “hold” rating in a research note on Monday, February 26th. Two analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $64.50.
Daqo New Energy (NYSE:DQ) last announced its quarterly earnings data on Wednesday, February 28th. The semiconductor company reported $3.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.39 by $0.77. The company had revenue of $103.68 million for the quarter, compared to analysts’ expectations of $95.25 million. Daqo New Energy had a net margin of 26.31% and a return on equity of 27.82%. Daqo New Energy’s revenue was up 124.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.39 EPS. equities research analysts anticipate that Daqo New Energy Corp will post 5.82 earnings per share for the current fiscal year.
About Daqo New Energy
Daqo New Energy Corp. is a polysilicon manufacturer. The Company utilizes the chemical vapor deposition process, or the modified Siemens process, to produce polysilicon. The Company’s segments include Polysilicon and Wafer. The Company manufactures and sells polysilicon to photovoltaic product manufacturers, whereby the polysilicon is processed into ingots, wafers, cells and modules for solar power solutions.
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