Legal & General Group Plc boosted its holdings in First Solar, Inc. (NASDAQ:FSLR) by 15.7% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 109,218 shares of the solar cell manufacturer’s stock after acquiring an additional 14,810 shares during the period. Legal & General Group Plc owned about 0.10% of First Solar worth $4,357,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also modified their holdings of the business. Bank of Nova Scotia acquired a new stake in shares of First Solar in the first quarter valued at approximately $212,000. Benjamin F. Edwards & Company Inc. increased its stake in shares of First Solar by 57.6% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 2,600 shares of the solar cell manufacturer’s stock valued at $104,000 after purchasing an additional 950 shares during the period. NEXT Financial Group Inc increased its stake in shares of First Solar by 23.9% in the second quarter. NEXT Financial Group Inc now owns 5,050 shares of the solar cell manufacturer’s stock valued at $201,000 after purchasing an additional 975 shares during the period. Parsec Financial Management Inc. acquired a new stake in shares of First Solar in the second quarter valued at approximately $204,000. Finally, LS Investment Advisors LLC increased its stake in shares of First Solar by 36.7% in the first quarter. LS Investment Advisors LLC now owns 5,275 shares of the solar cell manufacturer’s stock valued at $143,000 after purchasing an additional 1,417 shares during the period. 53.61% of the stock is currently owned by hedge funds and other institutional investors.
In related news, insider Raffi Garabedian sold 5,800 shares of the firm’s stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $49.83, for a total transaction of $289,014.00. Following the transaction, the insider now directly owns 11,474 shares of the company’s stock, valued at $571,749.42. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Alexander R. Bradley sold 566 shares of the firm’s stock in a transaction dated Tuesday, August 8th. The stock was sold at an average price of $48.66, for a total transaction of $27,541.56. Following the transaction, the chief financial officer now directly owns 963 shares in the company, valued at $46,859.58. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 95,909 shares of company stock worth $4,705,246. 0.58% of the stock is owned by insiders.
Several equities research analysts have commented on FSLR shares. Cowen and Company set a $40.00 price target on shares of First Solar and gave the company a “buy” rating in a research note on Monday, July 10th. Axiom Securities restated a “buy” rating on shares of First Solar in a research note on Thursday, August 10th. Zacks Investment Research lowered shares of First Solar from a “hold” rating to a “sell” rating in a research note on Tuesday, July 4th. Deutsche Bank AG set a $47.00 price target on shares of First Solar and gave the company a “hold” rating in a research note on Wednesday, July 19th. Finally, ValuEngine lowered shares of First Solar from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. One equities research analyst has rated the stock with a sell rating, sixteen have given a hold rating and eleven have given a buy rating to the company. First Solar currently has a consensus rating of “Hold” and an average price target of $44.74.
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First Solar, Inc. (NASDAQ FSLR) opened at 47.48 on Wednesday. The company has a 50-day moving average of $47.52 and a 200-day moving average of $37.81. The firm’s market cap is $4.96 billion. First Solar, Inc. has a 1-year low of $25.56 and a 1-year high of $50.21.
First Solar (NASDAQ:FSLR) last released its quarterly earnings results on Thursday, July 27th. The solar cell manufacturer reported $0.64 EPS for the quarter, topping analysts’ consensus estimates of $0.04 by $0.60. First Solar had a negative net margin of 18.80% and a positive return on equity of 6.43%. The business had revenue of $623.00 million for the quarter, compared to analyst estimates of $591.55 million. During the same period last year, the firm earned $0.87 earnings per share. First Solar’s revenue for the quarter was down 38.7% compared to the same quarter last year. Analysts predict that First Solar, Inc. will post $2.11 earnings per share for the current year.
First Solar 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.
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