Vident Investment Advisory LLC increased its stake in First Solar, Inc. (NASDAQ:FSLR) by 3.6% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 61,434 shares of the solar cell manufacturer’s stock after buying an additional 2,145 shares during the period. Vident Investment Advisory LLC owned 0.06% of First Solar worth $4,148,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors also recently bought and sold shares of the stock. Millennium Management LLC grew its stake in shares of First Solar by 12.2% in the 4th quarter. Millennium Management LLC now owns 520,684 shares of the solar cell manufacturer’s stock worth $35,157,000 after buying an additional 56,716 shares during the last quarter. Sciencast Management LP purchased a new stake in shares of First Solar in the 4th quarter worth approximately $651,000. Flinton Capital Management LLC boosted its stake in First Solar by 18.7% during the 4th quarter. Flinton Capital Management LLC now owns 11,016 shares of the solar cell manufacturer’s stock valued at $744,000 after purchasing an additional 1,734 shares during the last quarter. Meadow Creek Investment Management LLC boosted its stake in First Solar by 18.7% during the 4th quarter. Meadow Creek Investment Management LLC now owns 5,184 shares of the solar cell manufacturer’s stock valued at $350,000 after purchasing an additional 816 shares during the last quarter. Finally, Cornerstone Capital Management Holdings LLC. boosted its stake in First Solar by 19.3% during the 4th quarter. Cornerstone Capital Management Holdings LLC. now owns 447,219 shares of the solar cell manufacturer’s stock valued at $30,194,000 after purchasing an additional 72,425 shares during the last quarter. Institutional investors own 53.36% of the company’s stock.
Several brokerages have commented on FSLR. Vetr downgraded First Solar from a “sell” rating to a “strong sell” rating and set a $65.52 target price on the stock. in a research note on Thursday, January 11th. Guggenheim restated a “neutral” rating on shares of First Solar in a research note on Thursday, January 18th. They noted that the move was a valuation call. Zacks Investment Research upgraded First Solar from a “hold” rating to a “strong-buy” rating and set a $81.00 price target on the stock in a research note on Tuesday, December 12th. BidaskClub upgraded First Solar from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, December 12th. Finally, Robert W. Baird upgraded First Solar from a “neutral” rating to an “outperform” rating and raised their price target for the stock from $69.00 to $82.00 in a research note on Monday, December 11th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $70.53.
FSLR traded down $1.94 on Friday, hitting $69.70. The company had a trading volume of 1,266,894 shares, compared to its average volume of 1,309,790. The firm has a market cap of $7,504.73, a P/E ratio of 26.91, a P/E/G ratio of 4.26 and a beta of 1.96. First Solar, Inc. has a 12-month low of $26.41 and a 12-month high of $76.61. The company has a current ratio of 5.89, a quick ratio of 5.63 and a debt-to-equity ratio of 0.07.
First Solar (NASDAQ:FSLR) last released its quarterly earnings results on Thursday, February 22nd. The solar cell manufacturer reported ($0.25) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.31) by $0.06. First Solar had a positive return on equity of 5.17% and a negative net margin of 5.63%. The company had revenue of $339.00 million during the quarter, compared to analyst estimates of $459.93 million. During the same quarter last year, the business posted $1.24 earnings per share. The firm’s revenue was down 29.4% on a year-over-year basis. research analysts forecast that First Solar, Inc. will post 1.66 earnings per share for the current fiscal year.
In other news, CFO Alexander R. Bradley sold 4,325 shares of First Solar stock in a transaction that occurred on Monday, March 12th. The shares were sold at an average price of $68.12, for a total transaction of $294,619.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director George A. Hambro acquired 3,000 shares of First Solar stock in a transaction that occurred on Wednesday, February 28th. The stock was acquired at an average cost of $62.66 per share, with a total value of $187,980.00. Following the purchase, the director now directly owns 21,934 shares of the company’s stock, valued at $1,374,384.44. The disclosure for this purchase can be found here. Insiders have sold 30,457 shares of company stock valued at $2,004,033 in the last 90 days. Company insiders own 0.58% of the company’s stock.
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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.
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