Bradley Foster & Sargent Inc. CT raised its position in shares of First Solar, Inc. (NASDAQ:FSLR) by 56.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,931 shares of the solar cell manufacturer’s stock after buying an additional 5,360 shares during the quarter. Bradley Foster & Sargent Inc. CT’s holdings in First Solar were worth $789,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. JOYN Advisors Inc. lifted its stake in shares of First Solar by 130.2% during the 4th quarter. JOYN Advisors Inc. now owns 603 shares of the solar cell manufacturer’s stock worth $26,000 after acquiring an additional 341 shares during the last quarter. Oregon Public Employees Retirement Fund lifted its stake in shares of First Solar by 3,850.9% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 1,267,749 shares of the solar cell manufacturer’s stock worth $30,000 after acquiring an additional 1,235,661 shares during the last quarter. Private Capital Group LLC lifted its stake in shares of First Solar by 68.6% during the 4th quarter. Private Capital Group LLC now owns 1,165 shares of the solar cell manufacturer’s stock worth $49,000 after acquiring an additional 474 shares during the last quarter. Valeo Financial Advisors LLC lifted its stake in shares of First Solar by 180.2% during the 4th quarter. Valeo Financial Advisors LLC now owns 1,555 shares of the solar cell manufacturer’s stock worth $66,000 after acquiring an additional 1,000 shares during the last quarter. Finally, ETF Managers Group LLC lifted its stake in shares of First Solar by 15.8% during the 4th quarter. ETF Managers Group LLC now owns 1,828 shares of the solar cell manufacturer’s stock worth $78,000 after acquiring an additional 249 shares during the last quarter. Institutional investors and hedge funds own 60.89% of the company’s stock.
In other First Solar news, insider Georges Antoun sold 8,481 shares of the firm’s stock in a transaction on Monday, May 6th. The stock was sold at an average price of $60.04, for a total transaction of $509,199.24. Following the transaction, the insider now directly owns 107,946 shares in the company, valued at approximately $6,481,077.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Alexander R. Bradley sold 754 shares of the firm’s stock in a transaction on Friday, March 8th. The stock was sold at an average price of $49.67, for a total value of $37,451.18. Following the transaction, the chief financial officer now owns 13,296 shares in the company, valued at $660,412.32. The disclosure for this sale can be found here. Insiders have sold a total of 117,572 shares of company stock worth $6,997,116 over the last 90 days. 0.72% of the stock is currently owned by company insiders.
A number of equities research analysts recently issued reports on the company. Goldman Sachs Group set a $75.00 price target on First Solar and gave the stock a “buy” rating in a research note on Wednesday, April 10th. BidaskClub lowered First Solar from a “hold” rating to a “sell” rating in a research note on Saturday, February 9th. JPMorgan Chase & Co. decreased their price target on First Solar to $70.00 and set an “overweight” rating for the company in a research note on Friday, February 22nd. ValuEngine raised First Solar from a “hold” rating to a “buy” rating in a research note on Wednesday, May 1st. Finally, Argus raised their price target on First Solar to $66.00 and gave the stock an “average” rating in a research note on Friday, May 3rd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and twelve have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $63.85.
FSLR opened at $60.33 on Thursday. The firm has a market cap of $6.49 billion, a price-to-earnings ratio of 44.36, a PEG ratio of 1.70 and a beta of 1.32. First Solar, Inc. has a 52 week low of $36.51 and a 52 week high of $75.75. The company has a current ratio of 4.38, a quick ratio of 3.83 and a debt-to-equity ratio of 0.11.
First Solar (NASDAQ:FSLR) last released its quarterly earnings data on Thursday, May 2nd. The solar cell manufacturer reported ($0.64) EPS for the quarter, missing the consensus estimate of ($0.12) by ($0.52). The firm had revenue of $532.00 million for the quarter, compared to analysts’ expectations of $596.32 million. First Solar had a negative return on equity of 0.12% and a negative net margin of 0.28%. The company’s revenue for the quarter was down 6.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.78 earnings per share. On average, equities research analysts forecast that First Solar, Inc. will post 2.43 EPS for the current fiscal year.
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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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