Capital International Investors Maintains Holdings in First Solar, Inc. (FSLR)
Capital International Investors maintained its position in shares of First Solar, Inc. (NASDAQ:FSLR) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 170,000 shares of the solar cell manufacturer’s stock at the end of the 2nd quarter. Capital International Investors owned about 0.16% of First Solar worth $6,780,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently bought and sold shares of FSLR. BlackRock Inc. raised its stake in First Solar by 7,977.6% during the 1st quarter. BlackRock Inc. now owns 6,922,544 shares of the solar cell manufacturer’s stock valued at $187,601,000 after acquiring an additional 6,836,843 shares during the last quarter. Schroder Investment Management Group raised its stake in First Solar by 12,600.7% during the 2nd quarter. Schroder Investment Management Group now owns 1,679,286 shares of the solar cell manufacturer’s stock valued at $67,306,000 after acquiring an additional 1,666,064 shares during the last quarter. Wellington Management Group LLP raised its stake in First Solar by 28.8% during the 1st quarter. Wellington Management Group LLP now owns 3,038,924 shares of the solar cell manufacturer’s stock valued at $82,356,000 after acquiring an additional 679,898 shares during the last quarter. State Treasurer State of Michigan raised its stake in First Solar by 99.1% during the 2nd quarter. State Treasurer State of Michigan now owns 754,373 shares of the solar cell manufacturer’s stock valued at $30,084,000 after acquiring an additional 375,500 shares during the last quarter. Finally, Delta Lloyd Asset Management N.V. purchased a new stake in First Solar during the 2nd quarter valued at approximately $12,647,000. 53.08% of the stock is owned by hedge funds and other institutional investors.
Several analysts have commented on FSLR shares. Axiom Securities reaffirmed a “buy” rating on shares of First Solar in a research note on Wednesday, August 30th. Bank of America Corporation reaffirmed a “buy” rating and set a $64.00 price objective on shares of First Solar in a research note on Tuesday, August 29th. Zacks Investment Research cut First Solar from a “hold” rating to a “sell” rating in a research report on Tuesday, July 4th. Cowen and Company reiterated a “buy” rating and set a $57.00 target price on shares of First Solar in a research report on Sunday, September 3rd. Finally, Deutsche Bank AG upgraded First Solar from a “hold” rating to a “buy” rating and boosted their target price for the stock from $50.00 to $65.00 in a research report on Friday, September 15th. Two investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and eleven have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $44.89.
In other First Solar news, CEO Mark R. Widmar sold 43,189 shares of First Solar stock in a transaction that occurred on Monday, July 31st. The shares were sold at an average price of $48.55, for a total transaction of $2,096,825.95. Following the transaction, the chief executive officer now directly owns 107,454 shares in the company, valued at approximately $5,216,891.70. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Raffi Garabedian sold 5,800 shares of First Solar stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $49.83, for a total transaction of $289,014.00. Following the transaction, the insider now owns 11,474 shares in the company, valued at $571,749.42. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 94,674 shares of company stock worth $4,655,846. Corporate insiders own 0.58% of the company’s stock.
Shares of First Solar, Inc. (NASDAQ:FSLR) traded up 1.24% during midday trading on Thursday, reaching $48.24. The company’s stock had a trading volume of 128,256 shares. The stock’s market capitalization is $5.04 billion. The stock’s 50 day moving average is $47.67 and its 200 day moving average is $39.49. First Solar, Inc. has a 12 month low of $25.56 and a 12 month high of $53.00.
First Solar (NASDAQ:FSLR) last posted its quarterly earnings data on Thursday, July 27th. The solar cell manufacturer reported $0.64 earnings per share for the quarter, topping the 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 $623.00 million for the quarter, compared to analysts’ expectations of $591.55 million. During the same period in the previous year, the company posted $0.87 EPS. The company’s quarterly revenue was down 38.7% compared to the same quarter last year. On average, analysts forecast that First Solar, Inc. will post $2.11 EPS for the current fiscal year.
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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