Xact Kapitalforvaltning AB purchased a new position in First Solar, Inc. (NASDAQ:FSLR) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 7,181 shares of the solar cell manufacturer’s stock, valued at approximately $485,000.
Several other hedge funds have also recently added to or reduced their stakes in the company. Thompson Davis & CO. Inc. bought a new position in First Solar in the 4th quarter worth $101,000. NuWave Investment Management LLC bought a new position in First Solar in the 4th quarter worth $162,000. Compagnie Lombard Odier SCmA raised its holdings in First Solar by 145.5% in the 4th quarter. Compagnie Lombard Odier SCmA now owns 2,700 shares of the solar cell manufacturer’s stock worth $182,000 after purchasing an additional 1,600 shares during the period. Cigna Investments Inc. New bought a new position in First Solar in the 4th quarter worth $201,000. Finally, WealthTrust Fairport LLC bought a new position in First Solar in the 4th quarter worth $203,000. Hedge funds and other institutional investors own 53.36% of the company’s stock.
A number of equities analysts recently commented on FSLR shares. Zacks Investment Research raised First Solar from a “hold” rating to a “buy” rating and set a $76.00 target price on the stock 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 on the stock in a report on Thursday, December 14th. Guggenheim reissued a “neutral” rating on shares of First Solar in a report on Thursday, January 18th. They noted that the move was a valuation call. BidaskClub raised First Solar from a “hold” rating to a “buy” rating in a report on Friday, February 16th. Finally, Roth Capital set a $80.00 price target on First Solar and gave the company a “buy” rating in a report on Monday, December 25th. Two research 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 stock. The company currently has a consensus rating of “Buy” and a consensus price target of $70.53.
First Solar (NASDAQ:FSLR) last issued its quarterly earnings data on Thursday, February 22nd. The solar cell manufacturer reported ($0.25) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.31) by $0.06. The firm had revenue of $339.00 million during the quarter, compared to analyst estimates of $459.93 million. First Solar had a positive return on equity of 5.17% and a negative net margin of 5.63%. The business’s quarterly revenue was down 29.4% compared to the same quarter last year. During the same quarter last year, the business posted $1.24 earnings per share. analysts anticipate 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 the firm’s stock in a transaction dated Monday, March 12th. The stock was sold at an average price of $68.12, for a total transaction of $294,619.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Mark R. Widmar sold 20,574 shares of the firm’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $63.90, for a total value of $1,314,678.60. Following the transaction, the chief executive officer now owns 78,634 shares of the company’s stock, valued at approximately $5,024,712.60. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 30,457 shares of company stock valued at $2,004,033. Company insiders own 0.58% of the company’s stock.
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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