Sei Investments Co. decreased its holdings in shares of First Solar, Inc. (NASDAQ:FSLR) by 25.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 7,265 shares of the solar cell manufacturer’s stock after selling 2,421 shares during the quarter. Sei Investments Co.’s holdings in First Solar were worth $333,000 at the end of the most recent quarter.
A number of other large investors have also made changes to their positions in the stock. Suffolk Capital Management LLC bought a new stake in First Solar during the 3rd quarter valued at approximately $1,576,000. Bradley Foster & Sargent Inc. CT bought a new stake in First Solar during the 3rd quarter valued at approximately $405,000. Principal Financial Group Inc. boosted its stake in First Solar by 4.6% during the 3rd quarter. Principal Financial Group Inc. now owns 346,233 shares of the solar cell manufacturer’s stock valued at $15,885,000 after purchasing an additional 15,165 shares during the period. Oregon Public Employees Retirement Fund boosted its stake in First Solar by 4.1% during the 3rd quarter. Oregon Public Employees Retirement Fund now owns 30,235 shares of the solar cell manufacturer’s stock valued at $1,387,000 after purchasing an additional 1,191 shares during the period. Finally, American Century Companies Inc. boosted its stake in First Solar by 20.4% during the 3rd quarter. American Century Companies Inc. now owns 8,730 shares of the solar cell manufacturer’s stock valued at $401,000 after purchasing an additional 1,480 shares during the period. Hedge funds and other institutional investors own 51.21% of the company’s stock.
In other news, CEO Mark R. Widmar sold 20,270 shares of the stock in a transaction that occurred on Thursday, December 7th. The stock was sold at an average price of $64.40, for a total value of $1,305,388.00. Following the completion of the transaction, the chief executive officer now directly owns 100,754 shares of the company’s stock, valued at approximately $6,488,557.60. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.58% of the company’s stock.
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. First Solar had a positive return on equity of 8.07% and a negative net margin of 14.70%. The business had revenue of $1.09 billion during the quarter, compared to analysts’ expectations of $859.22 million. During the same period in the prior year, the firm posted $1.22 EPS. First Solar’s quarterly revenue was up 59.5% compared to the same quarter last year. equities research analysts expect that First Solar, Inc. will post 2.47 earnings per share for the current year.
Several analysts recently weighed in on FSLR shares. Goldman Sachs Group restated a “neutral” rating and set a $65.00 target price (up previously from $50.00) on shares of First Solar in a research note on Thursday, November 30th. Vetr raised First Solar from a “buy” rating to a “strong-buy” rating and set a $53.04 price target for the company in a report on Wednesday, October 11th. Deutsche Bank raised First Solar from a “hold” rating to a “buy” rating and upped their price target for the company from $50.00 to $65.00 in a report on Friday, September 15th. Axiom Securities reaffirmed a “buy” rating on shares of First Solar in a report on Thursday, August 24th. Finally, Needham & Company LLC raised First Solar from a “hold” rating to a “buy” rating and set a $60.00 price target for the company in a report on Friday, October 27th. Ten analysts have rated the stock with a hold rating, ten have given a buy rating and two have given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $61.07.
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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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