5,125 Shares in First Solar, Inc. (NASDAQ:FSLR) Acquired by Parsec Financial Management Inc.

Parsec Financial Management Inc. acquired a new position in shares of First Solar, Inc. (NASDAQ:FSLR) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 5,125 shares of the solar cell manufacturer’s stock, valued at approximately $204,000.

Several other large investors have also made changes to their positions in the stock. BlackRock Inc. raised its stake 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 stake 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. Dimensional Fund Advisors LP raised its stake in First Solar by 6.1% in the first quarter. Dimensional Fund Advisors LP now owns 2,756,980 shares of the solar cell manufacturer’s stock worth $74,715,000 after buying an additional 158,896 shares in the last quarter. State Treasurer State of Michigan raised its stake 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. Finally, DnB Asset Management AS raised its stake in First Solar by 0.6% in the first quarter. DnB Asset Management AS now owns 518,218 shares of the solar cell manufacturer’s stock worth $14,044,000 after buying an additional 3,300 shares in the last quarter. 60.25% of the stock is owned by institutional investors.

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

First Solar (NASDAQ:FSLR) last issued its quarterly earnings results on Thursday, July 27th. The solar cell manufacturer reported $0.64 earnings per share for the quarter, topping the Zacks’ 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 business had revenue of $623 million for the quarter, compared to analyst estimates of $591.55 million. During the same quarter in the previous year, the firm earned $0.87 earnings per share. The company’s revenue was down 38.7% on a year-over-year basis. On average, equities analysts forecast that First Solar, Inc. will post $2.11 EPS for the current year.

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FSLR has been the subject of a number of recent analyst reports. JMP Securities upgraded shares of First Solar from a “market perform” rating to an “outperform” rating and set a $53.00 price target for the company in a report on Wednesday, May 24th. Roth Capital upgraded shares of First Solar from a “neutral” rating to a “buy” rating and set a $40.00 price target for the company in a report on Thursday, April 27th. Zacks Investment Research lowered shares of First Solar from a “hold” rating to a “sell” rating in a report on Tuesday, July 4th. Vetr lowered shares of First Solar from a “buy” rating to a “sell” rating and set a $46.69 price target for the company. in a report on Monday, July 31st. Finally, Bank of America Corporation reiterated a “buy” rating and set a $54.00 price target (up from $38.00) on shares of First Solar in a report on Wednesday, July 26th. One investment analyst has rated the stock with a sell rating, eighteen have assigned a hold rating and ten have issued a buy rating to the company. First Solar currently has an average rating of “Hold” and a consensus target price of $43.89.

In other news, CFO Alexander R. Bradley sold 566 shares of the business’s stock in a transaction dated Tuesday, August 8th. The stock was sold at an average price of $48.66, for a total transaction of $27,541.56. Following the sale, the chief financial officer now owns 963 shares in the company, valued at $46,859.58. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Mark R. Widmar sold 43,189 shares of the business’s stock in a transaction dated Monday, July 31st. The stock was sold at an average price of $48.55, for a total value of $2,096,825.95. Following the sale, the chief executive officer now owns 107,454 shares in the company, valued at approximately $5,216,891.70. The disclosure for this sale can be found here. Insiders have sold 95,909 shares of company stock worth $4,705,246 in the last 90 days. Insiders own 0.40% of the company’s stock.

About First Solar

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)

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