Whittier Trust Co. maintained its position in shares of First Solar, Inc. (NASDAQ:FSLR) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 7,310 shares of the solar cell manufacturer’s stock at the end of the second quarter. Whittier Trust Co.’s holdings in First Solar were worth $291,000 as of its most recent filing with the SEC.
Several other institutional investors have also made changes to their positions in the stock. Personal Capital Advisors Corp increased its position in shares of First Solar by 33.4% in the first quarter. Personal Capital Advisors Corp now owns 331,437 shares of the solar cell manufacturer’s stock worth $9,290,000 after buying an additional 82,983 shares in the last quarter. Norges Bank purchased a new stake in shares of First Solar during the fourth quarter valued at $3,470,000. Bank of America Corp DE boosted its stake in shares of First Solar by 67.2% in the first quarter. Bank of America Corp DE now owns 273,426 shares of the solar cell manufacturer’s stock valued at $7,409,000 after buying an additional 109,938 shares during the last quarter. Russell Investments Group Ltd. purchased a new stake in shares of First Solar during the fourth quarter valued at $872,000. Finally, Baird Financial Group Inc. boosted its stake in shares of 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 buying an additional 5,995 shares during the last quarter. Institutional investors own 60.75% of the company’s stock.
First Solar, Inc. (FSLR) opened at 47.54 on Friday. The stock has a 50 day moving average price of $43.93 and a 200 day moving average price of $35.65. The company’s market cap is $4.96 billion. First Solar, Inc. has a 1-year low of $25.56 and a 1-year high of $50.21.
First Solar (NASDAQ:FSLR) last released its quarterly 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 company had revenue of $623 million during the quarter, compared to analysts’ expectations of $591.55 million. First Solar had a positive return on equity of 6.43% and a negative net margin of 18.80%. First Solar’s quarterly revenue was down 38.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.87 EPS. On average, equities research analysts anticipate that First Solar, Inc. will post $2.11 EPS for the current fiscal year.
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Several brokerages recently weighed in on FSLR. ValuEngine raised First Solar from a “hold” rating to a “buy” rating in a research note on Friday. Axiom Securities reaffirmed a “buy” rating on shares of First Solar in a research note on Thursday. Zacks Investment Research cut First Solar from a “buy” rating to a “hold” rating in a research note on Friday, August 4th. BidaskClub cut First Solar from a “strong-buy” rating to a “buy” rating in a research note on Thursday, August 3rd. Finally, Barclays PLC reaffirmed a “buy” rating and issued a $55.00 price target on shares of First Solar in a research note on Wednesday, August 2nd. One investment analyst has rated the stock with a sell rating, eighteen have issued a hold rating and ten have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $43.35.
In other First Solar news, insider Bryan Robert Schumaker sold 1,235 shares of the stock in a transaction that occurred on Friday, June 23rd. The stock was sold at an average price of $40.00, for a total transaction of $49,400.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Alexander R. Bradley sold 566 shares of the stock in a transaction that occurred on Tuesday, August 8th. The shares were sold at an average price of $48.66, for a total value of $27,541.56. Following the transaction, the chief financial officer now directly owns 963 shares of the company’s stock, valued at approximately $46,859.58. The disclosure for this sale can be found here. Insiders sold a total of 95,909 shares of company stock valued at $4,705,246 in the last ninety days. 0.40% of the stock is currently owned by 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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