Cornerstone Capital Management Holdings LLC. lifted its stake in shares of First Solar, Inc. (NASDAQ:FSLR) by 51.3% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 374,794 shares of the solar cell manufacturer’s stock after purchasing an additional 127,108 shares during the quarter. Cornerstone Capital Management Holdings LLC. owned about 0.36% of First Solar worth $17,194,000 at the end of the most recent quarter.
Several other large investors also recently bought and sold shares of FSLR. Public Employees Retirement Association of Colorado grew its stake in shares of First Solar by 1.1% during the 2nd quarter. Public Employees Retirement Association of Colorado now owns 15,100 shares of the solar cell manufacturer’s stock worth $602,000 after purchasing an additional 165 shares during the period. Janney Montgomery Scott LLC grew its stake in First Solar by 38.3% in the 2nd quarter. Janney Montgomery Scott LLC now owns 13,553 shares of the solar cell manufacturer’s stock valued at $540,000 after acquiring an additional 3,753 shares during the last quarter. World Asset Management Inc acquired a new stake in First Solar in the 2nd quarter valued at about $221,000. Sei Investments Co. grew its stake in First Solar by 15.3% in the 2nd quarter. Sei Investments Co. now owns 9,686 shares of the solar cell manufacturer’s stock valued at $386,000 after acquiring an additional 1,286 shares during the last quarter. Finally, Retirement Systems of Alabama grew its stake in First Solar by 124.2% in the 2nd quarter. Retirement Systems of Alabama now owns 225,834 shares of the solar cell manufacturer’s stock valued at $9,006,000 after acquiring an additional 125,091 shares during the last quarter. 51.21% of the stock is currently owned by institutional investors and hedge funds.
FSLR has been the topic of a number of research reports. Zacks Investment Research cut shares of First Solar from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 13th. Deutsche Bank raised shares of First Solar from a “hold” rating to a “buy” rating and increased their price objective for the company from $50.00 to $65.00 in a research note on Friday, September 15th. Robert W. Baird reissued a “hold” rating and issued a $50.00 price objective on shares of First Solar in a research note on Friday, September 1st. Vetr cut shares of First Solar from a “strong-buy” rating to a “buy” rating and set a $51.52 price objective on the stock. in a research note on Wednesday, October 18th. Finally, JMP Securities set a $67.00 price objective on shares of First Solar and gave the company a “buy” rating in a research note on Wednesday, August 16th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and ten have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $57.53.
In other First Solar news, CEO Mark R. Widmar sold 20,270 shares of the company’s stock in a transaction dated Thursday, December 7th. The shares were sold at an average price of $64.40, for a total value of $1,305,388.00. Following the transaction, the chief executive officer now directly owns 100,754 shares in the company, valued at approximately $6,488,557.60. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.58% of the stock is currently owned by corporate insiders.
First Solar, Inc. (NASDAQ:FSLR) opened at $70.02 on Monday. The stock has a market cap of $7,312.40, a PE ratio of 17.16 and a beta of 2.03. The company has a quick ratio of 6.47, a current ratio of 6.85 and a debt-to-equity ratio of 0.06. First Solar, Inc. has a 1-year low of $25.56 and a 1-year high of $70.27.
First Solar (NASDAQ:FSLR) last released its earnings results on Thursday, October 26th. The solar cell manufacturer reported $1.95 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.84 by $1.11. The company had revenue of $1.09 billion for the quarter, compared to analyst estimates of $859.22 million. First Solar had a negative net margin of 14.70% and a positive return on equity of 8.07%. The firm’s quarterly revenue was up 59.5% on a year-over-year basis. During the same period in the prior year, the firm earned $1.22 EPS. equities research analysts predict that First Solar, Inc. will post 2.47 earnings per share for the current year.
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First Solar Company Profile
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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