Trillium Asset Management LLC Has $6.63 Million Stake in First Solar, Inc. (FSLR)
Trillium Asset Management LLC raised its stake in First Solar, Inc. (NASDAQ:FSLR) by 3.8% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 166,308 shares of the solar cell manufacturer’s stock after buying an additional 6,162 shares during the period. Trillium Asset Management LLC owned 0.16% of First Solar worth $6,632,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also modified their holdings of the company. Bank of Nova Scotia acquired a new position in shares of First Solar during the first quarter valued at $212,000. Benjamin F. Edwards & Company Inc. boosted its position in shares of First Solar by 57.6% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 2,600 shares of the solar cell manufacturer’s stock valued at $104,000 after buying an additional 950 shares in the last quarter. Amica Retiree Medical Trust boosted its position in shares of First Solar by 814.5% in the first quarter. Amica Retiree Medical Trust now owns 4,097 shares of the solar cell manufacturer’s stock valued at $111,000 after buying an additional 3,649 shares in the last quarter. NEXT Financial Group Inc boosted its position in shares of First Solar by 23.9% in the second quarter. NEXT Financial Group Inc now owns 5,050 shares of the solar cell manufacturer’s stock valued at $201,000 after buying an additional 975 shares in the last quarter. Finally, Parsec Financial Management Inc. acquired a new position in shares of First Solar during the second quarter valued at $204,000. Institutional investors and hedge funds own 60.25% of the company’s stock.
Shares of First Solar, Inc. (NASDAQ:FSLR) opened at 48.87 on Tuesday. The firm’s market capitalization is $5.10 billion. The firm’s 50 day moving average is $44.19 and its 200-day moving average is $35.82. First Solar, Inc. has a 12 month low of $25.56 and a 12 month high of $50.21.
First Solar (NASDAQ:FSLR) last posted its earnings results on Thursday, July 27th. The solar cell manufacturer reported $0.64 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.04 by $0.60. First Solar had a negative net margin of 18.80% and a positive return on equity of 6.43%. The firm had revenue of $623 million during the quarter, compared to the consensus estimate of $591.55 million. During the same quarter in the prior year, the company earned $0.87 EPS. The company’s revenue was down 38.7% on a year-over-year basis. On average, analysts expect that First Solar, Inc. will post $2.11 EPS for the current fiscal year.
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Several brokerages have recently weighed in on FSLR. UBS AG upgraded shares of First Solar from a “sell” rating to a “hold” rating in a research note on Tuesday, May 2nd. Axiom Securities reiterated a “buy” rating on shares of First Solar in a research note on Thursday, August 10th. BidaskClub cut shares of First Solar from a “strong-buy” rating to a “buy” rating in a research note on Thursday, August 3rd. ValuEngine upgraded shares of First Solar from a “hold” rating to a “buy” rating in a research note on Friday. Finally, Vetr cut shares of First Solar from a “hold” rating to a “sell” rating and set a $45.99 price target on the stock. in a research note on Monday. Two analysts have rated the stock with a sell rating, seventeen have given a hold rating and ten have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $43.24.
In related news, CFO Alexander R. Bradley sold 566 shares of the firm’s stock in a transaction on Tuesday, August 8th. The stock was sold at an average price of $48.66, for a total transaction of $27,541.56. Following the transaction, the chief financial officer now directly owns 963 shares in the company, valued at $46,859.58. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Bryan Robert Schumaker sold 1,235 shares of the firm’s stock in a transaction on Friday, June 23rd. The stock was sold at an average price of $40.00, for a total value of $49,400.00. The disclosure for this sale can be found here. Insiders sold 95,909 shares of company stock valued at $4,705,246 in the last ninety days. 0.40% of the stock is owned by corporate 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 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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