Asset Management One Co. Ltd., one of Japan’s leading asset management companies, has recently decreased its stake in Daqo New Energy Corp. (NYSE:DQ), a semiconductor company specializing in high-purity polysilicon and solar wafers, according to its 13F filing with the Securities & Exchange Commission. The Japanese investment firm, headquartered in Tokyo, owned a total of 9,743 shares in Daqo New Energy at the end of 2020, after selling 4,486 shares during the quarter, marking a reduction of 31.5%. The stake owned by Asset Management One Co. Ltd had an estimated value of over $383,000 during this time.
Daqo New Energy Corp. is a NYSE-listed company that specializes in providing researchers and manufacturers with high-purity polysilicon and crystal-clear wafers for solar power systems and semiconductors. It’s not surprising that institutional investors are interested in purchasing stocks within this sector as clean energy usage is on the rise globally.
According to Daqo New Energy’s recent earnings report from Q4 2020 released on February 28th, the company reported an impressive $4.71 earnings per share for the period. This result has surpassed market analyst projections given earlier predictions; however, there was an anticipated decline in revenue due to unfortunate conditions witnessed across industries worldwide as a result of the COVID-19 pandemic.
Daqo New Energy had revenues totaling $864.25 million during that same period against their projected estimates valued at $1.13 billion – which indicates nearly one-quarter drop down from consensus EPS estimates but still managed to hold up primarily well within their market niche accounting for various factors affecting earnings growth rates given certain circumstances worldwide.
Meanwhile, equity researchers maintain confidence in Daqo’s sustainability amidst potential headwinds such as public policy changes or recessionary pressures looming ahead due to heightened anxieties caused by the COVID-19 pandemic. Despite this uncertainty, analysts anticipate that Daqo New Energy Corp. will still post an impressive EPS of around 19.28 for the current fiscal year.
Investors seeking to follow Asset Management One Co.Ltd.’s prospective next move can monitor Daqo New Energy’s recent activities and insider transactions through HoldingsChannel.com, a website that provides investors with up-to-date information on all publicly traded companies and their stock activity, sorted by investor holdings and insider trades making informed decisions easily accessible.
Large Investors Show Increased Interest in Daqo New Energy Corp.
Daqo New Energy Corp. (NYSE: DQ) has recently seen a series of changes to its positions from large investors, suggesting a growing interest in the semiconductor company. These investors include Mondrian Investment Partners LTD., HBK Sorce Advisory LLC, Toroso Investments LLC, Ronald Blue Trust Inc., and Quadrant Capital Group LLC. In an effort to diversify their portfolios, these investors bought new stakes and grew their positions in Daqo New Energy.
HBK Sorce Advisory LLC invested around $28,000 into Daqo New Energy in the third quarter of 2020, while Mondrian Investment Partners LTD bought a new position worth $32,000 in the fourth quarter. Toroso Investments LLC also purchased new shares valued at $35,000 in DQ during the third quarter of last year. Ronald Blue Trust Inc. boosted its representation of Daqo New Energy by 243.4% during Q3 2020 and now owns 546 shares worth $39,000 after acquiring an additional 387 shares during the last quarter.
Another prominent investor that grew its position in DQ is Quadrant Capital Group LLC which expanded by 35.4% during Q3 2020 by acquiring an additional 345 shares worth $70,000 by end of that period.
Despite opening at $41.89 on Friday and having a market cap of $3.12 billion with a beta value of .51 , Daqo’s low price point sits at just over one year low at $36:03 USD. However Daqo still managed to have recorded a high value over this period as well reaching up to $77:18 USD per share at certain points One thing is for sure though; more interested parties are showing increased curiosity regarding opportunities within DQ moving forward.
Analyst firm HSBC recently increased their target share price for DQ from $44:60 to $45.60 USD, while Daiwa Capital Markets raised their rating on the company from “hold” to “outperform.” StockNews.com initiated coverage on Daqo New Energy in a research report by giving a “hold” recommendation for DQ.
The Shanghai-based Daqo New Energy Corp., founded by Guang Fu Xu in 2007, produces and sells polysilicon products to photovoltaic product manufacturers who use them as raw materials for solar power solutions. With the growing interest of large investors and improved ratings from financial analysts, it is clear that Daqo New Energy may have a bright future ahead of it in the semiconductor industry. To stay up-to-date on hedge fund updates about DQ or insider trading, please visit HoldingsChannel.com.