State Board of Administration of Florida Retirement System grew its stake in shares of First Solar, Inc. (NASDAQ:FSLR) by 5.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 113,651 shares of the solar cell manufacturer’s stock after purchasing an additional 5,919 shares during the period. State Board of Administration of Florida Retirement System owned about 0.11% of First Solar worth $7,465,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Dimensional Fund Advisors LP raised its holdings in shares of First Solar by 2.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,526,286 shares of the solar cell manufacturer’s stock valued at $64,800,000 after purchasing an additional 42,066 shares in the last quarter. Bank of Montreal Can raised its position in First Solar by 1.5% during the first quarter. Bank of Montreal Can now owns 16,076 shares of the solar cell manufacturer’s stock worth $849,000 after acquiring an additional 233 shares during the period. World Asset Management Inc acquired a new position in First Solar during the first quarter worth $255,000. CENTRAL TRUST Co raised its position in First Solar by 4.2% during the first quarter. CENTRAL TRUST Co now owns 10,376 shares of the solar cell manufacturer’s stock worth $549,000 after acquiring an additional 420 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in First Solar by 141.2% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 318,528 shares of the solar cell manufacturer’s stock worth $16,831,000 after acquiring an additional 186,452 shares during the period. 63.54% of the stock is owned by institutional investors and hedge funds.
In related news, Director R Craig Kennedy sold 1,800 shares of First Solar stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $62.55, for a total value of $112,590.00. Following the sale, the director now owns 25,805 shares of the company’s stock, valued at approximately $1,614,102.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Mark R. Widmar sold 34,964 shares of First Solar stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $61.43, for a total transaction of $2,147,838.52. Following the completion of the sale, the chief executive officer now directly owns 145,285 shares in the company, valued at approximately $8,924,857.55. The disclosure for this sale can be found here. Insiders sold a total of 93,155 shares of company stock worth $5,765,855 in the last ninety days. 0.72% of the stock is currently owned by insiders.
Shares of FSLR traded down $0.12 during mid-day trading on Wednesday, reaching $61.74. 862 shares of the company’s stock were exchanged, compared to its average volume of 1,374,020. The business’s fifty day simple moving average is $64.28 and its 200-day simple moving average is $59.37. First Solar, Inc. has a 52-week low of $36.51 and a 52-week high of $69.24. The company has a debt-to-equity ratio of 0.09, a current ratio of 4.05 and a quick ratio of 3.35. The stock has a market capitalization of $6.42 billion, a PE ratio of 45.55, a price-to-earnings-growth ratio of 1.10 and a beta of 1.30.
First Solar (NASDAQ:FSLR) last announced its quarterly earnings results on Thursday, August 1st. The solar cell manufacturer reported ($0.18) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.02 by ($0.20). First Solar had a net margin of 0.95% and a return on equity of 0.46%. The business had revenue of $585.00 million during the quarter, compared to the consensus estimate of $656.80 million. During the same period in the previous year, the business posted ($0.46) EPS. First Solar’s revenue was up 89.3% compared to the same quarter last year. Equities research analysts predict that First Solar, Inc. will post 2.37 earnings per share for the current year.
First Solar Company Profile
First Solar, Inc provides photovoltaic (PV) solar energy solutions in the United States and internationally. It operates in two segments, Modules 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 of PV solar power systems.
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