Daqo New Energy (DQ) Shares Sold by Boston Partners

Boston Partners reduced its stake in shares of Daqo New Energy (NYSE:DQ) by 36.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 56,977 shares of the semiconductor company’s stock after selling 32,859 shares during the quarter. Boston Partners owned about 0.54% of Daqo New Energy worth $2,789,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Jane Street Group LLC purchased a new stake in Daqo New Energy during the 4th quarter valued at approximately $616,000. Millennium Management LLC purchased a new stake in Daqo New Energy during the 4th quarter valued at approximately $6,321,000. Sensato Investors LLC purchased a new stake in Daqo New Energy during the 4th quarter valued at approximately $739,000. Ellington Management Group LLC purchased a new stake in Daqo New Energy during the 4th quarter valued at approximately $404,000. Finally, Goldman Sachs Group Inc. purchased a new stake in Daqo New Energy during the 4th quarter valued at approximately $262,000. 26.66% of the stock is owned by institutional investors and hedge funds.

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Daqo New Energy opened at $64.87 on Friday, Marketbeat reports. Daqo New Energy has a fifty-two week low of $19.00 and a fifty-two week high of $72.50. The company has a quick ratio of 0.67, a current ratio of 0.76 and a debt-to-equity ratio of 0.25. The firm has a market capitalization of $684.95 million, a P/E ratio of 7.63, a price-to-earnings-growth ratio of 1.12 and a beta of 2.01.

Daqo New Energy (NYSE:DQ) last posted its earnings results on Tuesday, May 8th. The semiconductor company reported $2.79 earnings per share for the quarter, beating analysts’ consensus estimates of $2.26 by $0.53. Daqo New Energy had a net margin of 27.28% and a return on equity of 27.20%. The firm had revenue of $103.30 million during the quarter, compared to analyst estimates of $96.75 million. During the same period last year, the firm posted $2.32 earnings per share. Daqo New Energy’s revenue for the quarter was up 23.3% compared to the same quarter last year. analysts predict that Daqo New Energy will post 8.28 earnings per share for the current year.

A number of equities research analysts have issued reports on the stock. Tudor Pickering lowered shares of Daqo New Energy from a “buy” rating to a “hold” rating in a report on Monday, February 26th. Zacks Investment Research raised shares of Daqo New Energy from a “hold” rating to a “buy” rating and set a $64.00 price objective for the company in a report on Tuesday, February 27th. Finally, ValuEngine lowered shares of Daqo New Energy from a “strong-buy” rating to a “buy” rating in a report on Wednesday, May 2nd. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Daqo New Energy has an average rating of “Buy” and an average price target of $64.50.

About Daqo New Energy

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.