Trillium Asset Management LLC lowered its position in First Solar Inc. (NASDAQ:FSLR) by 0.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 325,249 shares of the solar cell manufacturer’s stock after selling 780 shares during the period. Trillium Asset Management LLC’s holdings in First Solar were worth $15,768,000 as of its most recent SEC filing.
Other large investors have also modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. purchased a new stake in First Solar during the first quarter worth approximately $819,000. Credit Agricole S A increased its stake in First Solar by 5.0% in the first quarter. Credit Agricole S A now owns 14,728 shares of the solar cell manufacturer’s stock worth $1,008,000 after buying an additional 700 shares during the period. Carnick & Kubik LLC increased its stake in First Solar by 2.1% in the first quarter. Carnick & Kubik LLC now owns 15,669 shares of the solar cell manufacturer’s stock worth $1,073,000 after buying an additional 321 shares during the period. Aviva PLC increased its stake in First Solar by 0.8% in the first quarter. Aviva PLC now owns 36,107 shares of the solar cell manufacturer’s stock worth $2,472,000 after buying an additional 282 shares during the period. Finally, ING Groep NV purchased a new stake in First Solar during the first quarter worth approximately $294,000. Institutional investors and hedge funds own 57.50% of the company’s stock.
First Solar Inc. (NASDAQ:FSLR) traded down 0.93% during trading on Tuesday, reaching $38.21. The company had a trading volume of 2,376,372 shares. First Solar Inc. has a 12 month low of $33.74 and a 12 month high of $74.29. The company has a market capitalization of $3.91 billion, a P/E ratio of 5.63 and a beta of 1.54. The firm’s 50 day moving average is $37.29 and its 200-day moving average is $48.74.
First Solar (NASDAQ:FSLR) last released its quarterly earnings results on Wednesday, August 3rd. The solar cell manufacturer reported $0.87 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.55 by $0.32. First Solar had a return on equity of 13.78% and a net margin of 17.45%. The company earned $934.40 million during the quarter, compared to analysts’ expectations of $862.68 million. During the same period in the previous year, the firm posted $0.93 earnings per share. The business’s revenue for the quarter was up 4.2% compared to the same quarter last year. On average, equities analysts expect that First Solar Inc. will post $4.25 earnings per share for the current year.
A number of equities research analysts recently commented on FSLR shares. Needham & Company LLC reaffirmed a “hold” rating on shares of First Solar in a report on Monday, June 27th. JPMorgan Chase & Co. reaffirmed a “hold” rating and set a $53.00 target price (down previously from $65.00) on shares of First Solar in a report on Wednesday, September 28th. JMP Securities initiated coverage on First Solar in a report on Thursday, September 8th. They set an “underperform” rating and a $32.00 target price for the company. Vetr downgraded First Solar from a “buy” rating to a “hold” rating and set a $48.00 price target for the company. in a report on Tuesday, July 12th. Finally, Argus downgraded First Solar from a “buy” rating to a “hold” rating and boosted their price target for the company from $36.75 to $38.25 in a report on Wednesday, August 31st. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating and twelve have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $57.88.
In other news, insider Georges Antoun sold 133,761 shares of the business’s stock in a transaction on Friday, August 5th. The stock was sold at an average price of $44.54, for a total value of $5,957,714.94. Following the completion of the transaction, the insider now directly owns 151,471 shares of the company’s stock, valued at $6,746,518.34. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director James Alton Hughes sold 180,448 shares of the business’s stock in a transaction on Friday, August 5th. The stock was sold at an average price of $44.43, for a total value of $8,017,304.64. Following the completion of the transaction, the director now directly owns 201,577 shares of the company’s stock, valued at $8,956,066.11. The disclosure for this sale can be found here. 0.40% of the stock is owned by insiders.
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 thin-film semiconductor technology, and also develops, designs, constructs and sells PV solar power solutions. The Company operates through two segments: components and systems.
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