Clean Yield Group lowered its holdings in First Solar, Inc. (NASDAQ:FSLR) by 4.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 8,080 shares of the solar cell manufacturer’s stock after selling 377 shares during the quarter. Clean Yield Group’s holdings in First Solar were worth $452,000 as of its most recent filing with the SEC.
A number of other institutional investors have also bought and sold shares of FSLR. Invesco Ltd. raised its position in shares of First Solar by 273.0% during the second quarter. Invesco Ltd. now owns 2,686,374 shares of the solar cell manufacturer’s stock worth $176,441,000 after acquiring an additional 1,966,171 shares during the last quarter. Nuveen Asset Management LLC bought a new stake in shares of First Solar during the second quarter worth $34,160,000. Assenagon Asset Management S.A. bought a new stake in shares of First Solar during the fourth quarter worth $15,067,000. Point72 Asset Management L.P. raised its position in shares of First Solar by 51.7% during the third quarter. Point72 Asset Management L.P. now owns 562,500 shares of the solar cell manufacturer’s stock worth $32,631,000 after acquiring an additional 191,709 shares during the last quarter. Finally, Commerzbank Aktiengesellschaft FI raised its position in shares of First Solar by 163.5% during the third quarter. Commerzbank Aktiengesellschaft FI now owns 221,131 shares of the solar cell manufacturer’s stock worth $12,828,000 after acquiring an additional 137,203 shares during the last quarter. 61.30% of the stock is currently owned by institutional investors.
FSLR has been the subject of a number of recent research reports. JMP Securities upgraded First Solar from a “market perform” rating to an “outperform” rating and set a $70.00 target price for the company in a research report on Monday, October 28th. Robert W. Baird set a $80.00 target price on First Solar and gave the stock a “buy” rating in a research report on Friday, October 25th. Cowen set a $83.00 target price on First Solar and gave the stock a “buy” rating in a research report on Friday, October 25th. Zacks Investment Research downgraded First Solar from a “hold” rating to a “strong sell” rating and set a $49.00 target price for the company. in a research report on Friday, January 3rd. Finally, UBS Group set a $73.00 target price on First Solar and gave the stock a “buy” rating in a research report on Friday, October 25th. Three analysts have rated the stock with a sell rating, three have given a hold rating and eight have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $69.27.
NASDAQ FSLR opened at $53.52 on Friday. The stock has a 50-day simple moving average of $55.83 and a 200 day simple moving average of $59.29. The company has a market capitalization of $5.64 billion, a PE ratio of 39.35, a P/E/G ratio of 0.86 and a beta of 1.30. The company has a current ratio of 4.00, a quick ratio of 3.24 and a debt-to-equity ratio of 0.09. First Solar, Inc. has a 12 month low of $45.77 and a 12 month high of $69.24.
First Solar (NASDAQ:FSLR) last released its quarterly earnings data on Thursday, October 24th. The solar cell manufacturer reported $0.29 EPS for the quarter, missing analysts’ consensus estimates of $1.06 by ($0.77). The company had revenue of $547.00 million during the quarter, compared to the consensus estimate of $995.41 million. First Solar had a negative net margin of 0.14% and a negative return on equity of 0.07%. The company’s revenue for the quarter was down 19.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.54 EPS. As a group, sell-side analysts predict that First Solar, Inc. will post 2.51 earnings per share for the current fiscal year.
In related news, CTO Raffi Garabedian sold 16,370 shares of the company’s stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $53.18, for a total value of $870,556.60. Following the completion of the sale, the chief technology officer now owns 190 shares in the company, valued at $10,104.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Georges Antoun sold 8,476 shares of the company’s stock in a transaction dated Friday, December 27th. The shares were sold at an average price of $56.98, for a total value of $482,962.48. Following the completion of the sale, the insider now owns 38,718 shares of the company’s stock, valued at approximately $2,206,151.64. The disclosure for this sale can be found here. Insiders sold 58,289 shares of company stock valued at $3,179,809 in the last quarter. 0.72% of the stock is currently owned by corporate insiders.
First Solar Profile
First Solar, Inc provides photovoltaic (PV) solar energy solutions in the United States and internationally. It operates in two segments, Modules and Systems. The Components segment designs, manufactures, and sells cadmium telluride solar modules that convert sunlight into electricity. This segment offers its products to integrators and operators of PV solar power systems.
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