Aperio Group LLC lessened its holdings in shares of First Solar, Inc. (NASDAQ:FSLR) by 6.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 93,104 shares of the solar cell manufacturer’s stock after selling 6,569 shares during the period. Aperio Group LLC’s holdings in First Solar were worth $4,903,000 as of its most recent SEC filing.
A number of other hedge funds have also made changes to their positions in the stock. SFE Investment Counsel lifted its position in First Solar by 23.6% during the second quarter. SFE Investment Counsel now owns 21,258 shares of the solar cell manufacturer’s stock worth $1,119,000 after buying an additional 4,057 shares during the period. Coastline Trust Co purchased a new position in First Solar during the second quarter worth about $251,000. Perella Weinberg Partners Capital Management LP purchased a new position in First Solar during the second quarter worth about $886,000. Clean Yield Group lifted its position in First Solar by 4.7% during the second quarter. Clean Yield Group now owns 22,155 shares of the solar cell manufacturer’s stock worth $1,167,000 after buying an additional 993 shares during the period. Finally, Creative Planning lifted its position in First Solar by 56.5% during the second quarter. Creative Planning now owns 28,142 shares of the solar cell manufacturer’s stock worth $1,482,000 after buying an additional 10,165 shares during the period. 51.77% of the stock is currently owned by hedge funds and other institutional investors.
FSLR has been the topic of several recent analyst reports. Bank of America upgraded First Solar from a “neutral” rating to a “buy” rating in a research report on Wednesday, April 18th. Roth Capital set a $90.00 price objective on First Solar and gave the stock a “buy” rating in a report on Sunday, April 22nd. Williams Capital raised their price objective on First Solar from $75.00 to $83.00 and gave the stock a “buy” rating in a report on Friday, April 27th. JMP Securities raised their price objective on First Solar from $84.00 to $87.00 and gave the stock a “buy” rating in a report on Friday, April 27th. Finally, Credit Suisse Group raised their price objective on First Solar from $57.00 to $59.00 and gave the stock an “underperform” rating in a report on Friday, April 27th. Four investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and ten have issued a buy rating to the stock. First Solar has an average rating of “Hold” and a consensus target price of $70.85.
First Solar (NASDAQ:FSLR) last announced its earnings results on Thursday, July 26th. The solar cell manufacturer reported ($0.46) EPS for the quarter, missing the consensus estimate of ($0.03) by ($0.43). The company had revenue of $309.00 million for the quarter, compared to analysts’ expectations of $509.19 million. First Solar had a negative net margin of 8.35% and a positive return on equity of 4.12%. The business’s quarterly revenue was down 50.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.64 earnings per share. equities analysts forecast that First Solar, Inc. will post 1.68 earnings per share for the current year.
In related news, CTO Raffi Garabedian sold 4,159 shares of the firm’s stock in a transaction dated Wednesday, August 1st. The stock was sold at an average price of $52.91, for a total transaction of $220,052.69. Following the sale, the chief technology officer now directly owns 5,520 shares in the company, valued at approximately $292,063.20. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Georges Antoun sold 3,142 shares of the firm’s stock in a transaction dated Tuesday, May 22nd. The shares were sold at an average price of $70.63, for a total value of $221,919.46. Following the sale, the insider now owns 77,535 shares in the company, valued at $5,476,297.05. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 14,035 shares of company stock worth $797,353. Company insiders own 0.54% of the company’s stock.
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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