Franklin Resources Inc. Has $51.33 Million Stock Holdings in Daqo New Energy Corp. (NYSE:DQ)

Franklin Resources Inc. boosted its position in shares of Daqo New Energy Corp. (NYSE:DQ) by 0.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,640,386 shares of the semiconductor company’s stock after purchasing an additional 1,593 shares during the period. Franklin Resources Inc.’s holdings in Daqo New Energy were worth $51,329,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Van ECK Associates Corp raised its holdings in shares of Daqo New Energy by 7.6% during the 4th quarter. Van ECK Associates Corp now owns 20,067 shares of the semiconductor company’s stock valued at $390,000 after purchasing an additional 1,410 shares in the last quarter. Generali Investments CEE investicni spolecnost a.s. acquired a new position in Daqo New Energy during the fourth quarter worth $52,000. Geode Capital Management LLC raised its holdings in Daqo New Energy by 9.2% during the third quarter. Geode Capital Management LLC now owns 33,546 shares of the semiconductor company’s stock valued at $683,000 after buying an additional 2,813 shares in the last quarter. State Street Corp lifted its position in shares of Daqo New Energy by 1.1% in the third quarter. State Street Corp now owns 842,921 shares of the semiconductor company’s stock worth $17,170,000 after buying an additional 8,983 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC boosted its stake in shares of Daqo New Energy by 37.2% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 45,788 shares of the semiconductor company’s stock worth $890,000 after acquiring an additional 12,409 shares in the last quarter. Hedge funds and other institutional investors own 47.22% of the company’s stock.

Daqo New Energy Stock Performance

Shares of NYSE:DQ opened at $15.52 on Friday. Daqo New Energy Corp. has a 52-week low of $13.62 and a 52-week high of $30.85. The company has a market cap of $1.02 billion, a P/E ratio of -8.39 and a beta of 0.41. The stock’s 50-day moving average is $19.48 and its 200-day moving average is $19.77.

Daqo New Energy (NYSE:DQ) last issued its quarterly earnings results on Thursday, February 27th. The semiconductor company reported ($2.71) EPS for the quarter, missing the consensus estimate of ($0.69) by ($2.02). Daqo New Energy had a negative return on equity of 1.90% and a negative net margin of 9.16%. The business had revenue of $195.36 million during the quarter, compared to the consensus estimate of $153.54 million. As a group, equities analysts predict that Daqo New Energy Corp. will post -3.5 EPS for the current year.

Analyst Ratings Changes

Separately, StockNews.com raised Daqo New Energy to a “sell” rating in a research note on Tuesday, March 18th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, four have given a buy rating and three have given a strong buy rating to the company’s stock. Based on data from MarketBeat, Daqo New Energy currently has a consensus rating of “Buy” and an average 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.