Swiss National Bank raised its stake in shares of First Solar, Inc. (NASDAQ:FSLR) by 1.7% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 130,600 shares of the solar cell manufacturer’s stock after buying an additional 2,200 shares during the quarter. Swiss National Bank owned about 0.13% of First Solar worth $5,208,000 at the end of the most recent reporting period.
A number of other large investors also recently made changes to their positions in the business. Bank of America Corp DE boosted its holdings in shares of First Solar by 67.2% during the first quarter. Bank of America Corp DE now owns 273,426 shares of the solar cell manufacturer’s stock worth $7,409,000 after purchasing an additional 109,938 shares during the last quarter. Baird Financial Group Inc. boosted its holdings in First Solar by 86.9% in the first quarter. Baird Financial Group Inc. now owns 12,890 shares of the solar cell manufacturer’s stock valued at $349,000 after acquiring an additional 5,995 shares during the last quarter. HighTower Advisors LLC boosted its holdings in First Solar by 13.2% in the first quarter. HighTower Advisors LLC now owns 22,791 shares of the solar cell manufacturer’s stock valued at $617,000 after acquiring an additional 2,662 shares during the last quarter. James Investment Research Inc. boosted its holdings in First Solar by 836.5% in the second quarter. James Investment Research Inc. now owns 56,190 shares of the solar cell manufacturer’s stock valued at $2,241,000 after acquiring an additional 50,190 shares during the last quarter. Finally, Nuveen Asset Management LLC acquired a new position in First Solar in the first quarter valued at $629,000. Hedge funds and other institutional investors own 53.08% of the company’s stock.
Shares of First Solar, Inc. (NASDAQ FSLR) opened at 48.85 on Thursday. The firm has a 50-day moving average of $47.85 and a 200-day moving average of $38.35. The company’s market cap is $5.10 billion. First Solar, Inc. has a 12-month low of $25.56 and a 12-month high of $51.84. First Solar also was the recipient of unusually large options trading activity on Monday. Stock investors acquired 15,980 put options on the company. This represents an increase of approximately 473% compared to the typical volume of 2,790 put options.
First Solar (NASDAQ:FSLR) last issued its earnings results on Thursday, July 27th. The solar cell manufacturer reported $0.64 earnings per share for the quarter, topping analysts’ consensus estimates of $0.04 by $0.60. The firm had revenue of $623.00 million during the quarter, compared to analyst estimates of $591.55 million. First Solar had a negative net margin of 18.80% and a positive return on equity of 6.43%. The company’s quarterly revenue was down 38.7% on a year-over-year basis. During the same quarter last year, the business earned $0.87 earnings per share. Analysts predict that First Solar, Inc. will post $2.12 EPS for the current year.
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In other news, insider Bryan Robert Schumaker sold 1,235 shares of the firm’s stock in a transaction that occurred on Friday, June 23rd. The shares were sold at an average price of $40.00, for a total value of $49,400.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Raffi Garabedian sold 5,800 shares of the firm’s stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $49.83, for a total transaction of $289,014.00. Following the completion of the transaction, the insider now owns 11,474 shares of the company’s stock, valued at $571,749.42. The disclosure for this sale can be found here. Insiders have sold 95,909 shares of company stock valued at $4,705,246 in the last quarter. Company insiders own 0.58% of the company’s stock.
Several research analysts have commented on the company. Cowen and Company set a $40.00 price objective on First Solar and gave the company a “buy” rating in a research report on Monday, July 10th. Axiom Securities reissued a “buy” rating on shares of First Solar in a research report on Thursday, August 10th. Deutsche Bank AG raised First Solar from a “hold” rating to a “buy” rating and raised their price objective for the company from $50.00 to $65.00 in a research report on Friday, September 15th. Zacks Investment Research lowered First Solar from a “hold” rating to a “sell” rating in a research report on Tuesday, July 4th. Finally, ValuEngine lowered First Solar from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. One analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and eleven have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $45.56.
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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