Perigon Wealth Management LLC purchased a new stake in Daqo New Energy Corp (NYSE:DQ) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 5,230 shares of the semiconductor company’s stock, valued at approximately $388,000.
Several other hedge funds have also recently made changes to their positions in the company. Nomura Holdings Inc. raised its holdings in Daqo New Energy by 2,400.0% in the 1st quarter. Nomura Holdings Inc. now owns 8,750,000 shares of the semiconductor company’s stock valued at $503,125,000 after acquiring an additional 8,400,000 shares during the period. UBS Group AG raised its stake in shares of Daqo New Energy by 6,397.5% during the first quarter. UBS Group AG now owns 153,406 shares of the semiconductor company’s stock valued at $8,886,000 after acquiring an additional 151,045 shares during the last quarter. APG Asset Management N.V. bought a new position in shares of Daqo New Energy during the first quarter valued at $2,786,000. Taikang Asset Management Hong Kong Co Ltd bought a new position in shares of Daqo New Energy during the first quarter valued at $5,361,000. Finally, Pinpoint Asset Management Ltd raised its stake in shares of Daqo New Energy by 289.6% during the first quarter. Pinpoint Asset Management Ltd now owns 114,877 shares of the semiconductor company’s stock valued at $6,654,000 after acquiring an additional 85,391 shares during the last quarter.
A number of equities analysts recently weighed in on the stock. JPMorgan Chase & Co. lowered their target price on shares of Daqo New Energy from $75.00 to $69.00 and set an “overweight” rating for the company in a research note on Wednesday, April 29th. ValuEngine upgraded shares of Daqo New Energy from a “sell” rating to a “hold” rating in a report on Tuesday, June 23rd. TheStreet upgraded shares of Daqo New Energy from a “c” rating to a “b-” rating in a report on Wednesday, June 24th. Roth Capital boosted their price target on shares of Daqo New Energy from $80.00 to $105.00 and gave the stock a “buy” rating in a report on Wednesday, July 8th. Finally, Zacks Investment Research raised shares of Daqo New Energy from a “hold” rating to a “strong-buy” rating and set a $128.00 price objective on the stock in a research report on Tuesday, July 21st. One equities research analyst has rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. Daqo New Energy presently has a consensus rating of “Buy” and a consensus target price of $100.67.
Shares of Daqo New Energy stock opened at $110.91 on Friday. Daqo New Energy Corp has a 52-week low of $35.73 and a 52-week high of $119.26. The stock has a market capitalization of $1.54 billion, a price-to-earnings ratio of 28.81, a price-to-earnings-growth ratio of 0.53 and a beta of 0.89. The company has a fifty day moving average of $82.98 and a 200-day moving average of $62.47. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.36 and a current ratio of 0.44.
Daqo New Energy (NYSE:DQ) last announced its quarterly earnings results on Wednesday, May 20th. The semiconductor company reported $2.57 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.61 by $0.96. The business had revenue of $168.83 million during the quarter, compared to analysts’ expectations of $150.50 million. Daqo New Energy had a net margin of 12.82% and a return on equity of 10.03%. During the same quarter in the prior year, the company posted $0.81 EPS. On average, equities research analysts forecast that Daqo New Energy Corp will post 7.28 earnings per share for the current fiscal year.
Daqo New Energy Company Profile
Daqo New Energy Corp., together with its subsidiaries, manufactures and sells polysilicon and wafers in the People's Republic of China. It operates through two segments, Polysilicon and Wafers. The company offers polysilicon to photovoltaic product manufacturers who further process its polysilicon into ingots, wafers, cells, and modules for solar power solutions.
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