Stevens Capital Management LP Reduces Stake in First Solar, Inc. (FSLR)

Stevens Capital Management LP lessened its position in First Solar, Inc. (NASDAQ:FSLR) by 58.2% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 18,547 shares of the solar cell manufacturer’s stock after selling 25,798 shares during the period. Stevens Capital Management LP’s holdings in First Solar were worth $898,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of FSLR. Vident Investment Advisory LLC raised its position in shares of First Solar by 2.2% during the second quarter. Vident Investment Advisory LLC now owns 53,443 shares of the solar cell manufacturer’s stock worth $2,814,000 after purchasing an additional 1,162 shares during the period. Canada Pension Plan Investment Board raised its position in shares of First Solar by 1.3% during the third quarter. Canada Pension Plan Investment Board now owns 92,600 shares of the solar cell manufacturer’s stock worth $4,484,000 after purchasing an additional 1,200 shares during the period. Investec Asset Management LTD raised its position in shares of First Solar by 10.4% during the second quarter. Investec Asset Management LTD now owns 13,269 shares of the solar cell manufacturer’s stock worth $699,000 after purchasing an additional 1,249 shares during the period. Malaga Cove Capital LLC raised its position in shares of First Solar by 6.8% during the third quarter. Malaga Cove Capital LLC now owns 21,450 shares of the solar cell manufacturer’s stock worth $1,056,000 after purchasing an additional 1,359 shares during the period. Finally, Legal & General Group Plc raised its position in shares of First Solar by 1.2% during the second quarter. Legal & General Group Plc now owns 121,473 shares of the solar cell manufacturer’s stock worth $6,397,000 after purchasing an additional 1,443 shares during the period. 52.17% of the stock is currently owned by institutional investors.

Shares of NASDAQ FSLR opened at $42.59 on Friday. The company has a current ratio of 4.48, a quick ratio of 4.14 and a debt-to-equity ratio of 0.09. First Solar, Inc. has a one year low of $36.51 and a one year high of $81.72. The stock has a market capitalization of $4.58 billion, a price-to-earnings ratio of 16.44, a PEG ratio of 1.79 and a beta of 1.32.

First Solar (NASDAQ:FSLR) last issued its earnings results on Thursday, October 25th. The solar cell manufacturer reported $0.54 EPS for the quarter, beating analysts’ consensus estimates of $0.45 by $0.09. First Solar had a positive return on equity of 1.29% and a negative net margin of 17.98%. The firm had revenue of $676.22 million for the quarter, compared to the consensus estimate of $683.93 million. On average, equities research analysts anticipate that First Solar, Inc. will post 1.51 EPS for the current fiscal year.

A number of brokerages have recently issued reports on FSLR. Goldman Sachs Group raised First Solar from a “sell” rating to a “neutral” rating and boosted their target price for the stock from $39.00 to $46.00 in a research report on Monday, December 3rd. BidaskClub lowered First Solar from a “hold” rating to a “sell” rating in a research report on Friday, August 17th. JPMorgan Chase & Co. set a $75.00 target price on First Solar and gave the stock a “buy” rating in a research report on Tuesday, October 30th. Zacks Investment Research lowered First Solar from a “hold” rating to a “sell” rating in a research report on Wednesday, September 26th. Finally, Vertical Group raised First Solar from a “sell” rating to a “hold” rating in a research report on Thursday, October 25th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and ten have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $67.47.

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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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