First Solar, Inc. (FSLR) Shares Bought by Hanson & Doremus Investment Management

Hanson & Doremus Investment Management increased its position in First Solar, Inc. (NASDAQ:FSLR) by 29.2% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 20,315 shares of the solar cell manufacturer’s stock after buying an additional 4,595 shares during the period. Hanson & Doremus Investment Management’s holdings in First Solar were worth $810,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently added to or reduced their stakes in the company. BlackRock Inc. raised its position in First Solar by 7,977.6% in the first quarter. BlackRock Inc. now owns 6,922,544 shares of the solar cell manufacturer’s stock worth $187,601,000 after buying an additional 6,836,843 shares in the last quarter. Wellington Management Group LLP raised its position in First Solar by 28.8% in the first quarter. Wellington Management Group LLP now owns 3,038,924 shares of the solar cell manufacturer’s stock worth $82,356,000 after buying an additional 679,898 shares in the last quarter. State Treasurer State of Michigan raised its position in First Solar by 99.1% in the second quarter. State Treasurer State of Michigan now owns 754,373 shares of the solar cell manufacturer’s stock worth $30,084,000 after buying an additional 375,500 shares in the last quarter. Principal Financial Group Inc. raised its position in First Solar by 171.3% in the first quarter. Principal Financial Group Inc. now owns 314,986 shares of the solar cell manufacturer’s stock worth $8,536,000 after buying an additional 198,889 shares in the last quarter. Finally, Ameriprise Financial Inc. raised its position in First Solar by 242.7% in the first quarter. Ameriprise Financial Inc. now owns 255,111 shares of the solar cell manufacturer’s stock worth $6,914,000 after buying an additional 180,665 shares in the last quarter. Institutional investors own 60.25% of the company’s stock.

Shares of First Solar, Inc. (FSLR) opened at 48.06 on Friday. The firm’s 50-day moving average is $45.14 and its 200-day moving average is $36.24. The stock’s market capitalization is $5.02 billion. First Solar, Inc. has a 52 week low of $25.56 and a 52 week high of $50.21.

First Solar (NASDAQ:FSLR) last posted its quarterly earnings results on Thursday, July 27th. The solar cell manufacturer reported $0.64 EPS for the quarter, beating the 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 during the quarter, compared to analysts’ expectations of $591.55 million. During the same quarter in the prior year, the firm posted $0.87 EPS. The company’s revenue for the quarter was down 38.7% on a year-over-year basis. On average, equities research analysts anticipate that First Solar, Inc. will post $2.11 EPS for the current fiscal year.

ILLEGAL ACTIVITY WARNING: This piece of content was first reported by Community Financial News and is owned by of Community Financial News. If you are reading this piece of content on another domain, it was illegally copied and reposted in violation of United States & international copyright legislation. The correct version of this piece of content can be read at https://www.com-unik.info/2017/08/19/first-solar-inc-fslr-position-boosted-by-hanson-doremus-investment-management-updated-updated.html.

A number of equities analysts have issued reports on FSLR shares. JMP Securities raised shares of First Solar from an “underperform” rating to a “market perform” rating and reduced their price target for the stock from $29.40 to $28.99 in a research report on Thursday, April 27th. They noted that the move was a valuation call. Roth Capital raised shares of First Solar from a “neutral” rating to a “buy” rating and set a $40.00 target price for the company in a report on Thursday, April 27th. Credit Suisse Group raised shares of First Solar from an “underperform” rating to a “neutral” rating and lifted their target price for the company from $25.00 to $31.00 in a report on Monday, May 1st. UBS AG raised shares of First Solar from a “sell” rating to a “hold” rating in a report on Tuesday, May 2nd. Finally, Axiom Securities raised shares of First Solar from a “sell” rating to a “hold” rating and cut their target price for the company from $30.32 to $21.00 in a report on Wednesday, May 3rd. One research analyst has rated the stock with a sell rating, eighteen have issued a hold rating and ten have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $43.89.

In other news, insider Raffi Garabedian sold 5,800 shares of the stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $49.83, for a total value of $289,014.00. Following the completion of the transaction, the insider now directly owns 11,474 shares of the company’s stock, valued at approximately $571,749.42. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, 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 value of $49,400.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 95,909 shares of company stock valued at $4,705,246. 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.

Institutional Ownership by Quarter for First Solar (NASDAQ:FSLR)

What are top analysts saying about First Solar Inc.? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for First Solar Inc. and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit