Clean Yield Group boosted its position in First Solar Inc. (NASDAQ:FSLR) by 351.6% during the second quarter, Holdings Channel reports. The institutional investor owned 17,391 shares of the solar cell manufacturer’s stock after buying an additional 13,540 shares during the period. Clean Yield Group’s holdings in First Solar were worth $843,000 at the end of the most recent quarter.
Several other large investors have also recently modified their holdings of FSLR. Renaissance Technologies LLC purchased a new stake in shares of First Solar during the first quarter worth about $32,345,000. BlackRock Fund Advisors boosted its stake in shares of First Solar by 1.0% in the first quarter. BlackRock Fund Advisors now owns 1,318,391 shares of the solar cell manufacturer’s stock worth $90,270,000 after buying an additional 13,144 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of First Solar by 1.0% in the first quarter. Geode Capital Management LLC now owns 677,141 shares of the solar cell manufacturer’s stock worth $46,295,000 after buying an additional 6,795 shares in the last quarter. Narwhal Capital Management purchased a new stake in shares of First Solar during the second quarter worth about $601,000. Finally, FDO Partners LLC purchased a new stake in shares of First Solar during the first quarter worth about $522,000. Institutional investors own 57.50% of the company’s stock.
First Solar Inc. (NASDAQ:FSLR) traded up 1.05% during trading on Friday, hitting $39.49. 2,818,097 shares of the stock were exchanged. The stock has a 50 day moving average of $37.28 and a 200-day moving average of $49.53. The stock has a market cap of $4.04 billion, a P/E ratio of 5.82 and a beta of 1.86. First Solar Inc. has a 52 week low of $33.74 and a 52 week high of $74.29.
First Solar (NASDAQ:FSLR) last posted its quarterly earnings data on Wednesday, August 3rd. The solar cell manufacturer reported $0.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.55 by $0.32. First Solar had a net margin of 17.45% and a return on equity of 13.78%. The company earned $934.40 million during the quarter, compared to the consensus estimate of $862.68 million. During the same period in the previous year, the firm posted $0.93 EPS. The firm’s revenue was up 4.2% compared to the same quarter last year. Equities analysts expect that First Solar Inc. will post $4.25 EPS for the current fiscal year.
Several equities research analysts recently issued reports on FSLR shares. Standpoint Research reiterated a “buy” rating and issued a $54.00 price target on shares of First Solar in a research note on Tuesday, September 6th. Janney Montgomery Scott reiterated a “buy” rating and issued a $68.00 price target (down from $89.00) on shares of First Solar in a research note on Friday, August 5th. Oppenheimer Holdings Inc. reiterated an “outperform” rating and issued a $56.00 price target on shares of First Solar in a research note on Friday, August 5th. Barclays PLC cut First Solar from an “overweight” rating to a “neutral” rating in a research note on Thursday, August 25th. Finally, JPMorgan Chase & Co. reiterated a “hold” rating and issued a $53.00 price target (down from $65.00) on shares of First Solar in a research note on Wednesday. One analyst has rated the stock with a sell rating, fifteen have given a hold rating and twelve have given a buy rating to the company’s stock. First Solar has an average rating of “Hold” and an average target price of $57.88.
In other news, COO Philip Dejong sold 67,251 shares of First Solar stock in a transaction on Friday, August 5th. The shares were sold at an average price of $44.28, for a total transaction of $2,977,874.28. Following the completion of the sale, the chief operating officer now directly owns 45,499 shares of the company’s stock, valued at approximately $2,014,695.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director James Alton Hughes sold 180,448 shares of First Solar stock in a transaction on Friday, August 5th. The stock was sold at an average price of $44.43, for a total transaction of $8,017,304.64. Following the sale, the director now directly owns 201,577 shares of the company’s stock, valued at $8,956,066.11. The disclosure for this sale can be found here. Insiders own 0.40% of the company’s stock.
First Solar Company Profile
First Solar, Inc is a provider of photovoltaic (PV) solar energy solutions. The Company designs, manufactures and sells PV solar modules with thin-film semiconductor technology, and also develops, designs, constructs and sells PV solar power solutions. The Company operates through two segments: components and systems.
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