Raymond James Financial Services Advisors Inc. Raises Position in First Solar, Inc. (FSLR)

Raymond James Financial Services Advisors Inc. boosted its stake in shares of First Solar, Inc. (NASDAQ:FSLR) by 59.0% during the first quarter, Holdings Channel reports. The institutional investor owned 13,155 shares of the solar cell manufacturer’s stock after buying an additional 4,884 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in First Solar were worth $357,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in FSLR. Personal Capital Advisors Corp increased its position in First Solar by 33.4% in the first quarter. Personal Capital Advisors Corp now owns 331,437 shares of the solar cell manufacturer’s stock valued at $9,290,000 after buying an additional 82,983 shares in the last quarter. Norges Bank purchased a new stake in First Solar during the fourth quarter worth $3,470,000. Russell Investments Group Ltd. purchased a new stake in First Solar during the fourth quarter worth $872,000. Cullinan Associates Inc. increased its stake in First Solar by 9.0% in the first quarter. Cullinan Associates Inc. now owns 12,100 shares of the solar cell manufacturer’s stock worth $328,000 after buying an additional 1,000 shares in the last quarter. Finally, Karp Capital Management Corp purchased a new stake in First Solar during the first quarter worth $2,244,000. 60.79% of the stock is owned by institutional investors.

Institutional Ownership by Quarter for First Solar (NASDAQ:FSLR)

First Solar, Inc. (FSLR) opened at 35.83 on Friday. The company’s market capitalization is $3.74 billion. First Solar, Inc. has a 52 week low of $25.56 and a 52 week high of $50.40. The firm’s 50-day moving average price is $36.04 and its 200 day moving average price is $32.89.

First Solar (NASDAQ:FSLR) last released its earnings results on Tuesday, May 2nd. The solar cell manufacturer reported $0.25 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.13) by $0.38. First Solar had a positive return on equity of 6.71% and a negative net margin of 18.14%. The business had revenue of $891.79 million for the quarter, compared to the consensus estimate of $699.15 million. Equities research analysts expect that First Solar, Inc. will post $0.54 earnings per share for the current fiscal year.

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A number of research firms have weighed in on FSLR. J P Morgan Chase & Co downgraded shares of First Solar to a “hold” rating and set a $38.00 target price for the company. in a research report on Saturday, March 25th. JMP Securities raised shares of First Solar from an “underperform” rating to a “market perform” rating and decreased their target price for the company from $29.40 to $28.99 in a research report on Thursday, April 27th. They noted that the move was a valuation call. Robert W. Baird reissued an “outperform” rating on shares of First Solar in a research report on Wednesday, May 3rd. Deutsche Bank AG reissued a “hold” rating and set a $36.00 target price (up previously from $32.00) on shares of First Solar in a research report on Wednesday, May 3rd. Finally, Oppenheimer Holdings, Inc. reissued a “market perform” rating on shares of First Solar in a research report on Thursday, February 23rd. Two equities research analysts have rated the stock with a sell rating, nineteen have issued a hold rating and six have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $42.16.

In other First Solar news, insider Bryan Robert Schumaker sold 2,747 shares of the business’s stock in a transaction on Wednesday, May 3rd. The stock was sold at an average price of $35.00, for a total value of $96,145.00. Following the sale, the insider now directly owns 1,235 shares of the company’s stock, valued at $43,225. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director J Thomas Presby bought 4,000 shares of the company’s stock in a transaction on Thursday, May 11th. The stock was bought at an average cost of $36.89 per share, for a total transaction of $147,560.00. Following the completion of the acquisition, the director now directly owns 17,958 shares of the company’s stock, valued at approximately $662,470.62. The disclosure for this purchase 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 a thin-film semiconductor technology. The Company also develops, designs, constructs and sells PV solar power systems that primarily use the modules it manufactures.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “NASDAQ:FSLR”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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