Commerzbank Aktiengesellschaft FI lowered its position in First Solar, Inc. (NASDAQ:FSLR) by 38.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 117,880 shares of the solar cell manufacturer’s stock after selling 72,506 shares during the quarter. Commerzbank Aktiengesellschaft FI owned approximately 0.11% of First Solar worth $5,408,000 as of its most recent SEC filing.
A number of other large investors have also recently made changes to their positions in the stock. Precocity Capital LP bought a new position in First Solar in the third quarter worth approximately $4,588,000. Schwab Charles Investment Management Inc. grew its stake in First Solar by 12.7% in the third quarter. Schwab Charles Investment Management Inc. now owns 292,393 shares of the solar cell manufacturer’s stock worth $13,415,000 after purchasing an additional 33,052 shares in the last quarter. Commonwealth Bank of Australia grew its stake in First Solar by 37.4% in the third quarter. Commonwealth Bank of Australia now owns 25,702 shares of the solar cell manufacturer’s stock worth $1,176,000 after purchasing an additional 7,000 shares in the last quarter. WINTON GROUP Ltd grew its stake in First Solar by 643.3% in the third quarter. WINTON GROUP Ltd now owns 172,485 shares of the solar cell manufacturer’s stock worth $7,914,000 after purchasing an additional 149,279 shares in the last quarter. Finally, Wells Fargo & Company MN grew its stake in First Solar by 307.0% in the third quarter. Wells Fargo & Company MN now owns 111,843 shares of the solar cell manufacturer’s stock worth $5,132,000 after purchasing an additional 165,863 shares in the last quarter. 51.17% of the stock is currently owned by institutional investors.
Several research analysts recently issued reports on FSLR shares. Axiom Securities reissued a “buy” rating on shares of First Solar in a research note on Thursday, August 10th. ValuEngine upgraded First Solar from a “hold” rating to a “buy” rating in a report on Friday, August 11th. Vetr lowered First Solar from a “hold” rating to a “sell” rating and set a $45.99 target price for the company. in a report on Monday, August 14th. JMP Securities set a $67.00 target price on First Solar and gave the stock a “buy” rating in a report on Wednesday, August 16th. Finally, Bank of America restated a “buy” rating and set a $64.00 target price on shares of First Solar in a report on Tuesday, August 29th. Twelve equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. First Solar has an average rating of “Hold” and a consensus price target of $53.84.
First Solar (NASDAQ:FSLR) last issued its earnings results on Thursday, October 26th. The solar cell manufacturer reported $1.95 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.84 by $1.11. The company had revenue of $1.09 billion during the quarter, compared to analyst estimates of $859.22 million. First Solar had a positive return on equity of 8.07% and a negative net margin of 14.70%. The firm’s quarterly revenue was up 59.5% on a year-over-year basis. During the same quarter last year, the business posted $1.22 EPS. sell-side analysts expect that First Solar, Inc. will post 2.47 earnings per share for the current year.
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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.
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