First Solar, Inc. (FSLR) Stake Increased by Creative Planning

Creative Planning lifted its holdings in First Solar, Inc. (NASDAQ:FSLR) by 7.1% in the third quarter, HoldingsChannel reports. The firm owned 30,151 shares of the solar cell manufacturer’s stock after buying an additional 2,009 shares during the period. Creative Planning’s holdings in First Solar were worth $1,460,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of FSLR. Luminus Management LLC boosted its position in shares of First Solar by 5,435.8% in the 2nd quarter. Luminus Management LLC now owns 1,292,562 shares of the solar cell manufacturer’s stock worth $68,067,000 after purchasing an additional 1,269,213 shares in the last quarter. OppenheimerFunds Inc. boosted its position in shares of First Solar by 98.9% in the 2nd quarter. OppenheimerFunds Inc. now owns 2,014,693 shares of the solar cell manufacturer’s stock worth $106,094,000 after purchasing an additional 1,001,993 shares in the last quarter. Calamos Advisors LLC lifted its position in First Solar by 56.6% during the 2nd quarter. Calamos Advisors LLC now owns 862,950 shares of the solar cell manufacturer’s stock worth $45,443,000 after acquiring an additional 311,998 shares during the period. CIBC Private Wealth Group LLC lifted its position in First Solar by 75,478.1% during the 2nd quarter. CIBC Private Wealth Group LLC now owns 200,282 shares of the solar cell manufacturer’s stock worth $10,547,000 after acquiring an additional 200,017 shares during the period. Finally, Lansdowne Partners UK LLP lifted its position in First Solar by 147.5% during the 2nd quarter. Lansdowne Partners UK LLP now owns 325,582 shares of the solar cell manufacturer’s stock worth $17,145,000 after acquiring an additional 194,033 shares during the period. 53.76% of the stock is owned by hedge funds and other institutional investors.

A number of analysts have commented on FSLR shares. BidaskClub cut First Solar from a “sell” rating to a “strong sell” rating in a research report on Wednesday, September 12th. Roth Capital set a $90.00 price target on First Solar and gave the stock a “buy” rating in a research report on Friday, July 27th. Zacks Investment Research cut First Solar from a “hold” rating to a “sell” rating in a research report on Wednesday, September 26th. JPMorgan Chase & Co. set a $75.00 price target on First Solar and gave the stock a “buy” rating in a research report on Tuesday. Finally, Morgan Stanley lowered their price target on First Solar from $64.00 to $61.00 and set an “equal weight” rating for the company in a research report on Monday, July 16th. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $68.03.

In other First Solar news, insider Raffi Garabedian sold 3,863 shares of First Solar stock in a transaction dated Tuesday, September 4th. The stock was sold at an average price of $51.61, for a total transaction of $199,369.43. Following the completion of the transaction, the insider now owns 2,057 shares in the company, valued at approximately $106,161.77. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.54% of the company’s stock.

NASDAQ FSLR opened at $41.46 on Friday. The stock has a market cap of $4.17 billion, a price-to-earnings ratio of 16.01, a P/E/G ratio of 1.63 and a beta of 1.46. First Solar, Inc. has a fifty-two week low of $36.51 and a fifty-two week high of $81.72. The company has a quick ratio of 4.14, a current ratio of 4.48 and a debt-to-equity ratio of 0.09.

First Solar (NASDAQ:FSLR) last released its quarterly earnings data on Thursday, October 25th. The solar cell manufacturer reported $0.54 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.45 by $0.09. The business had revenue of $676.22 million during the quarter, compared to analyst estimates of $683.93 million. First Solar had a positive return on equity of 1.29% and a negative net margin of 17.98%. Analysts forecast that First Solar, Inc. will post 1.52 EPS for the current year.

About First Solar

First Solar, Inc provides photovoltaic solar energy solutions in the United States and internationally. It operates through two segments, Components and Systems. The Components segment designs, manufactures, and sells cadmium telluride solar modules that convert sunlight into electricity. This segment offers its products to integrators and operators.

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

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