Mackenzie Financial Corp Has $47.73 Million Holdings in Daqo New Energy Corp. (NYSE:DQ)

Mackenzie Financial Corp lifted its holdings in Daqo New Energy Corp. (NYSE:DQ - Free Report) by 23.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,794,353 shares of the semiconductor company's stock after purchasing an additional 344,616 shares during the period. Mackenzie Financial Corp owned 2.32% of Daqo New Energy worth $47,730,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in DQ. E Fund Management Hong Kong Co. Ltd. increased its stake in Daqo New Energy by 137.6% during the first quarter. E Fund Management Hong Kong Co. Ltd. now owns 34,476 shares of the semiconductor company's stock valued at $1,483,000 after acquiring an additional 19,965 shares during the period. JPMorgan Chase & Co. increased its stake in Daqo New Energy by 67.8% during the first quarter. JPMorgan Chase & Co. now owns 161,748 shares of the semiconductor company's stock valued at $6,684,000 after acquiring an additional 65,361 shares during the period. American Century Companies Inc. increased its stake in Daqo New Energy by 8.0% during the first quarter. American Century Companies Inc. now owns 33,487 shares of the semiconductor company's stock valued at $1,384,000 after acquiring an additional 2,490 shares during the period. US Bancorp DE increased its stake in Daqo New Energy by 89.0% during the first quarter. US Bancorp DE now owns 1,981 shares of the semiconductor company's stock valued at $82,000 after acquiring an additional 933 shares during the period. Finally, HighTower Advisors LLC bought a new position in Daqo New Energy during the first quarter valued at about $324,000. 47.22% of the stock is currently owned by institutional investors.

Daqo New Energy Stock Performance

Shares of DQ stock traded down $0.97 during trading hours on Wednesday, hitting $22.39. The company had a trading volume of 702,133 shares, compared to its average volume of 1,270,822. Daqo New Energy Corp. has a 12 month low of $17.30 and a 12 month high of $48.31. The firm has a market capitalization of $1.47 billion, a price-to-earnings ratio of 4.14 and a beta of 0.22. The firm's fifty day moving average is $23.95 and its 200 day moving average is $24.13.

Daqo New Energy (NYSE:DQ - Get Free Report) last announced its earnings results on Wednesday, February 28th. The semiconductor company reported $0.64 EPS for the quarter, missing the consensus estimate of $0.84 by ($0.20). The business had revenue of $477.13 million during the quarter, compared to analyst estimates of $529.40 million. Daqo New Energy had a return on equity of 6.42% and a net margin of 18.24%. During the same period in the previous year, the firm earned $4.71 earnings per share. On average, sell-side analysts expect that Daqo New Energy Corp. will post 4.06 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Separately, Daiwa Capital Markets reiterated an "underperform" rating and issued a $25.00 price objective on shares of Daqo New Energy in a research note on Friday, March 15th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $36.23.

Daqo New Energy 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.