Rhumbline Advisers reduced its position in First Solar, Inc. (NASDAQ:FSLR) by 5.5% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 141,105 shares of the solar cell manufacturer’s stock after selling 8,143 shares during the quarter. Rhumbline Advisers owned approximately 0.13% of First Solar worth $6,832,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other large investors have also recently added to or reduced their stakes in the business. Ffcm LLC grew its holdings in shares of First Solar by 1,217.6% during the 3rd quarter. Ffcm LLC now owns 9,039 shares of the solar cell manufacturer’s stock worth $194,000 after acquiring an additional 8,353 shares during the period. SG Americas Securities LLC lifted its position in First Solar by 38.9% in the 3rd quarter. SG Americas Securities LLC now owns 54,913 shares of the solar cell manufacturer’s stock valued at $2,659,000 after acquiring an additional 15,391 shares in the last quarter. ING Groep NV bought a new position in First Solar in the 3rd quarter valued at approximately $259,000. Fulcrum Capital LLC lifted its position in First Solar by 4.7% in the 3rd quarter. Fulcrum Capital LLC now owns 69,492 shares of the solar cell manufacturer’s stock valued at $3,365,000 after acquiring an additional 3,120 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. lifted its position in First Solar by 38.9% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 15,358 shares of the solar cell manufacturer’s stock valued at $744,000 after acquiring an additional 4,305 shares in the last quarter. 52.17% of the stock is owned by institutional investors and hedge funds.
Several research firms recently issued reports on FSLR. Argus raised First Solar from a “hold” rating to a “buy” rating and set a $60.00 price objective on the stock in a research report on Tuesday. Goldman Sachs Group raised First Solar from a “sell” rating to a “neutral” rating and increased their price target for the company from $39.00 to $46.00 in a report on Monday. ValuEngine raised First Solar from a “sell” rating to a “hold” rating in a report on Thursday, November 1st. JPMorgan Chase & Co. set a $75.00 price target on First Solar and gave the company a “buy” rating in a report on Tuesday, October 30th. Finally, Bank of America lowered their price target on First Solar from $63.00 to $53.00 and set a “buy” rating on the stock in a report on Monday, October 29th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and ten have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $67.47.
First Solar (NASDAQ:FSLR) last posted its quarterly earnings results on Thursday, October 25th. The solar cell manufacturer reported $0.54 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.45 by $0.09. The firm had revenue of $676.22 million during the quarter, compared to the consensus estimate of $683.93 million. First Solar had a negative net margin of 17.98% and a positive return on equity of 1.29%. On average, sell-side analysts predict that First Solar, Inc. will post 1.51 earnings per share for the current fiscal year.
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About First Solar
First Solar, Inc provides photovoltaic solar energy solutions in the United States and internationally. It operates through two segments, Components and Systems. The Components segment designs, manufactures, and sells cadmium telluride solar modules that convert sunlight into electricity. This segment offers its products to integrators and operators.
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