Daiwa SB Investments Ltd. cut its holdings in First Solar, Inc. (NASDAQ:FSLR) by 45.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,689 shares of the solar cell manufacturer’s stock after selling 4,780 shares during the period. Daiwa SB Investments Ltd.’s holdings in First Solar were worth $384,000 at the end of the most recent quarter.
Several other hedge funds have also added to or reduced their stakes in the company. Intellectus Partners LLC grew its holdings in shares of First Solar by 1.2% in the second quarter. Intellectus Partners LLC now owns 17,450 shares of the solar cell manufacturer’s stock valued at $696,000 after acquiring an additional 200 shares in the last quarter. Alliancebernstein L.P. grew its holdings in shares of First Solar by 0.8% in the second quarter. Alliancebernstein L.P. now owns 47,767 shares of the solar cell manufacturer’s stock valued at $1,905,000 after acquiring an additional 360 shares in the last quarter. Thrivent Financial For Lutherans grew its holdings in shares of First Solar by 6.3% in the second quarter. Thrivent Financial For Lutherans now owns 15,910 shares of the solar cell manufacturer’s stock valued at $634,000 after acquiring an additional 940 shares in the last quarter. Allianz Asset Management GmbH grew its holdings in shares of First Solar by 1.5% in the third quarter. Allianz Asset Management GmbH now owns 70,126 shares of the solar cell manufacturer’s stock valued at $3,218,000 after acquiring an additional 1,018 shares in the last quarter. Finally, Commonwealth Bank of Australia grew its holdings in shares of First Solar by 6.2% in the second quarter. Commonwealth Bank of Australia now owns 18,702 shares of the solar cell manufacturer’s stock valued at $745,000 after acquiring an additional 1,100 shares in the last quarter. 50.87% of the stock is owned by institutional investors.
FSLR has been the subject of several recent analyst reports. Zacks Investment Research raised First Solar from a “hold” rating to a “buy” rating and set a $76.00 target price for the company in a report on Tuesday, January 2nd. Vetr raised First Solar from a “sell” rating to a “hold” rating and set a $66.50 target price for the company in a report on Thursday, December 14th. Deutsche Bank raised First Solar from a “hold” rating to a “buy” rating and upped their target price for the company from $50.00 to $65.00 in a report on Friday, September 15th. Goldman Sachs Group reaffirmed a “neutral” rating and issued a $65.00 target price (up from $50.00) on shares of First Solar in a report on Thursday, November 30th. Finally, Cowen reaffirmed an “outperform” rating and issued a $77.00 target price (up from $60.00) on shares of First Solar in a report on Wednesday, December 6th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and twelve have given a buy rating to the company. First Solar currently has a consensus rating of “Hold” and an average price target of $63.13.
In other news, COO Philip Dejong sold 15,304 shares of the company’s stock in a transaction on Thursday, January 4th. The shares were sold at an average price of $67.83, for a total value of $1,038,070.32. Following the transaction, the chief operating officer now owns 10,424 shares of the company’s stock, valued at $707,059.92. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Mark R. Widmar sold 20,270 shares of the company’s stock in a transaction on Thursday, December 7th. The stock was sold at an average price of $64.40, for a total transaction of $1,305,388.00. Following the completion of the transaction, the chief executive officer now directly owns 100,754 shares in the company, valued at approximately $6,488,557.60. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 46,858 shares of company stock worth $3,134,015. Company insiders own 0.58% of the company’s stock.
Shares of First Solar, Inc. (NASDAQ:FSLR) opened at $73.41 on Friday. The stock has a market capitalization of $7,965.10, a price-to-earnings ratio of -16.76 and a beta of 2.04. First Solar, Inc. has a 12-month low of $25.56 and a 12-month high of $76.61. The company has a current ratio of 6.85, a quick ratio of 6.47 and a debt-to-equity ratio of 0.06.
First Solar (NASDAQ:FSLR) last posted its earnings results on Thursday, October 26th. The solar cell manufacturer reported $1.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.84 by $1.11. The firm had revenue of $1.09 billion for the quarter, compared to the consensus estimate of $859.22 million. First Solar had a positive return on equity of 8.07% and a negative net margin of 14.70%. The business’s quarterly revenue was up 59.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.22 earnings per share. sell-side analysts forecast that First Solar, Inc. will post 2.52 EPS for the current year.
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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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