First Solar, Inc. (FSLR) Shares Sold by Legal & General Group Plc

Legal & General Group Plc trimmed its stake in shares of First Solar, Inc. (NASDAQ:FSLR) by 3.3% during the third quarter, HoldingsChannel.com reports. The fund owned 117,417 shares of the solar cell manufacturer’s stock after selling 4,056 shares during the period. Legal & General Group Plc’s holdings in First Solar were worth $5,685,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of FSLR. AQR Capital Management LLC grew its position in First Solar by 3.5% in the third quarter. AQR Capital Management LLC now owns 1,853,115 shares of the solar cell manufacturer’s stock valued at $89,728,000 after purchasing an additional 62,482 shares in the last quarter. Dimensional Fund Advisors LP grew its position in First Solar by 27.0% in the third quarter. Dimensional Fund Advisors LP now owns 1,484,220 shares of the solar cell manufacturer’s stock valued at $71,866,000 after purchasing an additional 315,144 shares in the last quarter. Calamos Advisors LLC grew its position in First Solar by 6.1% in the third quarter. Calamos Advisors LLC now owns 916,013 shares of the solar cell manufacturer’s stock valued at $44,353,000 after purchasing an additional 53,063 shares in the last quarter. DNB Asset Management AS grew its position in First Solar by 60.2% in the third quarter. DNB Asset Management AS now owns 342,848 shares of the solar cell manufacturer’s stock valued at $16,601,000 after purchasing an additional 128,806 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. grew its position in First Solar by 2.8% in the second quarter. Schwab Charles Investment Management Inc. now owns 319,233 shares of the solar cell manufacturer’s stock valued at $16,811,000 after purchasing an additional 8,621 shares in the last quarter. Institutional investors and hedge funds own 51.95% of the company’s stock.

NASDAQ FSLR opened at $47.50 on Friday. The company has a quick ratio of 4.14, a current ratio of 4.48 and a debt-to-equity ratio of 0.09. The stock has a market cap of $4.92 billion, a PE ratio of 18.34, a P/E/G ratio of 1.17 and a beta of 1.22. First Solar, Inc. has a 52-week low of $36.51 and a 52-week high of $81.72.

First Solar (NASDAQ:FSLR) last posted its earnings results on Thursday, October 25th. The solar cell manufacturer reported $0.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.45 by $0.09. The company had revenue of $676.22 million during the quarter, compared to analysts’ expectations of $683.93 million. First Solar had a negative net margin of 17.98% and a positive return on equity of 1.29%. As a group, equities research analysts expect that First Solar, Inc. will post 1.51 earnings per share for the current year.

A number of research analysts have recently commented on the stock. Zacks Investment Research downgraded shares of First Solar from a “hold” rating to a “sell” rating in a research report on Wednesday, September 26th. Vertical Group raised shares of First Solar from a “sell” rating to a “hold” rating in a research report on Thursday, October 25th. JMP Securities raised shares of First Solar from an “underperform” rating to a “market perform” rating in a research report on Friday, October 26th. They noted that the move was a valuation call. Roth Capital set a $65.00 price objective on shares of First Solar and gave the company a “buy” rating in a research report on Friday, October 26th. Finally, UBS Group set a $85.00 price objective on shares of First Solar and gave the company a “buy” rating in a research report on Friday, October 26th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and thirteen have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $65.47.

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First Solar Company Profile

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.

Further Reading: Systematic Risk

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

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