First Solar, Inc. (FSLR) Shares Bought by Prudential Financial Inc.
Prudential Financial Inc. lifted its holdings in shares of First Solar, Inc. (NASDAQ:FSLR) by 0.0% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 281,983 shares of the solar cell manufacturer’s stock after purchasing an additional 66 shares during the quarter. Prudential Financial Inc. owned about 0.27% of First Solar worth $11,245,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in FSLR. Teachers Advisors LLC grew its holdings in shares of First Solar by 0.6% during the 4th quarter. Teachers Advisors LLC now owns 95,458 shares of the solar cell manufacturer’s stock worth $3,063,000 after purchasing an additional 601 shares during the period. Louisiana State Employees Retirement System purchased a new position in shares of First Solar during the 1st quarter worth $534,000. Retirement Systems of Alabama grew its holdings in shares of First Solar by 165.0% during the 1st quarter. Retirement Systems of Alabama now owns 100,743 shares of the solar cell manufacturer’s stock worth $2,730,000 after purchasing an additional 62,725 shares during the period. Profund Advisors LLC purchased a new position in shares of First Solar during the 1st quarter worth $432,000. Finally, ProShare Advisors LLC grew its holdings in shares of First Solar by 4.9% during the 1st quarter. ProShare Advisors LLC now owns 13,504 shares of the solar cell manufacturer’s stock worth $366,000 after purchasing an additional 633 shares during the period. Institutional investors and hedge funds own 53.61% of the company’s stock.
Shares of First Solar, Inc. (NASDAQ FSLR) opened at 47.16 on Tuesday. The stock’s 50 day moving average price is $47.53 and its 200 day moving average price is $37.75. The firm’s market cap is $4.92 billion. 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 Thomson Reuters’ consensus estimate of $0.04 by $0.60. First Solar had a positive return on equity of 6.43% and a negative net margin of 18.80%. The firm had revenue of $623 million for the quarter, compared to analyst estimates of $591.55 million. During the same quarter in the prior year, the company earned $0.87 EPS. First Solar’s revenue was down 38.7% on a year-over-year basis. Equities research analysts predict that First Solar, Inc. will post $2.11 earnings per share for the current fiscal year.
A number of equities analysts have recently weighed in on the company. Vetr upgraded First Solar from a “hold” rating to a “buy” rating and set a $48.80 price target for the company in a report on Monday. Cowen and Company reiterated a “buy” rating and set a $57.00 price target on shares of First Solar in a report on Sunday, September 3rd. Robert W. Baird reiterated a “hold” rating and set a $50.00 price target on shares of First Solar in a report on Friday, September 1st. Axiom Securities reiterated a “buy” rating on shares of First Solar in a report on Wednesday, August 30th. Finally, Bank of America Corporation reiterated a “buy” rating and set a $64.00 price target on shares of First Solar in a report on Tuesday, August 29th. One equities research analyst has rated the stock with a sell rating, sixteen have given a hold rating and eleven have given a buy rating to the stock. First Solar has an average rating of “Hold” and a consensus price target of $44.74.
In related news, insider Bryan Robert Schumaker sold 1,235 shares of the stock in a transaction dated Friday, June 23rd. The stock was sold at an average price of $40.00, for a total transaction of $49,400.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Raffi Garabedian sold 5,800 shares of the stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $49.83, for a total value of $289,014.00. Following the transaction, the insider now directly owns 11,474 shares in the company, valued at approximately $571,749.42. The disclosure for this sale can be found here. In the last three months, insiders have sold 95,909 shares of company stock worth $4,705,246. 0.58% of the stock is owned by corporate insiders.
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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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