Financial Architects Inc lowered its position in First Solar, Inc. (NASDAQ:FSLR) by 4.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,895 shares of the solar cell manufacturer’s stock after selling 500 shares during the period. Financial Architects Inc’s holdings in First Solar were worth $474,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. BlackRock Inc. raised its stake in shares of First Solar by 7,977.6% in the first quarter. BlackRock Inc. now owns 6,922,544 shares of the solar cell manufacturer’s stock worth $187,601,000 after buying an additional 6,836,843 shares during the last quarter. Wellington Management Group LLP raised its stake in shares of First Solar by 28.8% in the first quarter. Wellington Management Group LLP now owns 3,038,924 shares of the solar cell manufacturer’s stock valued at $82,356,000 after buying an additional 679,898 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of First Solar by 6.1% in the first quarter. Dimensional Fund Advisors LP now owns 2,756,980 shares of the solar cell manufacturer’s stock valued at $74,715,000 after buying an additional 158,896 shares in the last quarter. State Treasurer State of Michigan raised its stake in shares of First Solar by 99.1% in the second quarter. State Treasurer State of Michigan now owns 754,373 shares of the solar cell manufacturer’s stock valued at $30,084,000 after buying an additional 375,500 shares in the last quarter. Finally, DnB Asset Management AS raised its stake in shares of First Solar by 0.6% in the first quarter. DnB Asset Management AS now owns 518,218 shares of the solar cell manufacturer’s stock valued at $14,044,000 after buying an additional 3,300 shares in the last quarter. 60.25% of the stock is currently owned by hedge funds and other institutional investors.
First Solar, Inc. (FSLR) traded up 0.61% on Friday, hitting $48.06. The company had a trading volume of 983,257 shares. The company’s market capitalization is $5.02 billion. The stock’s 50-day moving average price is $45.14 and its 200 day moving average price is $36.24. First Solar, Inc. has a one year low of $25.56 and a one year high of $50.21.
First Solar (NASDAQ:FSLR) last issued its quarterly earnings data 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. The firm had revenue of $623 million during the quarter, compared to analyst estimates of $591.55 million. First Solar had a positive return on equity of 6.43% and a negative net margin of 18.80%. The company’s revenue for the quarter was down 38.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.87 EPS. On average, analysts expect that First Solar, Inc. will post $2.11 EPS for the current fiscal year.
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Several brokerages have recently issued reports on FSLR. UBS AG upgraded First Solar from a “sell” rating to a “hold” rating in a report on Tuesday, May 2nd. BidaskClub upgraded First Solar from a “buy” rating to a “strong-buy” rating in a report on Monday, July 24th. JMP Securities set a $67.00 target price on First Solar and gave the stock a “buy” rating in a report on Wednesday. Vetr raised First Solar from a “sell” rating to a “hold” rating and set a $47.67 price target on the stock in a research report on Wednesday. Finally, TheStreet raised First Solar from a “d+” rating to a “c” rating in a research report on Wednesday, July 19th. One research analyst has rated the stock with a sell rating, eighteen have given a hold rating and ten have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $43.89.
In other First Solar news, CFO Alexander R. Bradley sold 566 shares of the business’s stock in a transaction that occurred on Tuesday, August 8th. The stock was sold at an average price of $48.66, for a total transaction of $27,541.56. Following the completion of the sale, the chief financial officer now directly owns 963 shares of the company’s stock, valued at approximately $46,859.58. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Raffi Garabedian sold 5,800 shares of the business’s stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $49.83, for a total value of $289,014.00. Following the sale, the insider now directly owns 11,474 shares of the company’s stock, valued at $571,749.42. The disclosure for this sale can be found here. Insiders have sold a total of 95,909 shares of company stock valued at $4,705,246 over the last three months. Corporate insiders own 0.40% of the company’s stock.
About First Solar
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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