Principal Financial Group Inc. Has $16.65 Million Position in First Solar, Inc. (NASDAQ:FSLR)

Principal Financial Group Inc. lifted its position in shares of First Solar, Inc. (NASDAQ:FSLR) by 7.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 251,522 shares of the solar cell manufacturer’s stock after buying an additional 16,345 shares during the period. Principal Financial Group Inc. owned about 0.24% of First Solar worth $16,651,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of FSLR. Bartlett & Co. LLC acquired a new position in shares of First Solar during the second quarter worth about $25,000. Barrett Asset Management LLC boosted its position in First Solar by 150.0% during the second quarter. Barrett Asset Management LLC now owns 625 shares of the solar cell manufacturer’s stock valued at $31,000 after purchasing an additional 375 shares during the last quarter. Glenmede Trust Co. NA boosted its position in First Solar by 237.0% during the second quarter. Glenmede Trust Co. NA now owns 792 shares of the solar cell manufacturer’s stock valued at $39,000 after purchasing an additional 557 shares during the last quarter. Cerebellum GP LLC acquired a new position in First Solar during the third quarter valued at approximately $65,000. Finally, Cullen Frost Bankers Inc. boosted its position in First Solar by 238.0% during the second quarter. Cullen Frost Bankers Inc. now owns 1,335 shares of the solar cell manufacturer’s stock valued at $66,000 after purchasing an additional 940 shares during the last quarter. 60.90% of the stock is owned by institutional investors.

Several research analysts recently commented on FSLR shares. BidaskClub cut First Solar from a “strong-buy” rating to a “buy” rating in a research report on Saturday, September 19th. Raymond James lowered First Solar from an “outperform” rating to an “underperform” rating in a research note on Tuesday, November 10th. UBS Group upped their price objective on First Solar from $63.00 to $75.00 and gave the company a “buy” rating in a research note on Friday, August 7th. Robert W. Baird upped their price objective on First Solar from $97.00 to $125.00 and gave the company an “outperform” rating in a research note on Wednesday, October 28th. Finally, The Goldman Sachs Group lowered First Solar from a “conviction-buy” rating to a “buy” rating in a research note on Monday, November 9th. Six equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and eight have issued a buy rating to the company’s stock. First Solar currently has a consensus rating of “Hold” and a consensus target price of $80.47.

In related news, Director R Craig Kennedy sold 550 shares of the stock in a transaction that occurred on Monday, November 16th. The stock was sold at an average price of $80.77, for a total transaction of $44,423.50. Following the sale, the director now owns 27,534 shares of the company’s stock, valued at $2,223,921.18. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Lukas T. Walton sold 8,649,074 shares of the stock in a transaction that occurred on Monday, September 21st. The stock was sold at an average price of $68.50, for a total value of $592,461,569.00. Following the sale, the insider now directly owns 13,841,358 shares in the company, valued at approximately $948,133,023. The disclosure for this sale can be found here. Insiders have sold 11,158,980 shares of company stock worth $793,342,825 in the last three months. 0.54% of the stock is currently owned by company insiders.

Shares of NASDAQ FSLR opened at $84.69 on Friday. The firm has a market cap of $8.98 billion, a P/E ratio of 40.52, a price-to-earnings-growth ratio of 1.16 and a beta of 1.28. The company has a current ratio of 3.83, a quick ratio of 3.05 and a debt-to-equity ratio of 0.04. First Solar, Inc. has a 1-year low of $28.47 and a 1-year high of $97.93. The business’s 50 day moving average is $81.84 and its 200-day moving average is $64.41.

First Solar (NASDAQ:FSLR) last issued its quarterly earnings results on Tuesday, October 27th. The solar cell manufacturer reported $1.45 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.60 by $0.85. First Solar had a return on equity of 9.49% and a net margin of 6.38%. Analysts forecast that First Solar, Inc. will post 3.91 EPS for the current year.

First Solar Profile

First Solar, Inc provides photovoltaic (PV) solar energy solutions in the United States and internationally. It operates in two segments, Modules and Systems. The Modules segment designs, manufactures, and sells cadmium telluride solar modules that convert sunlight into electricity to integrators and operators of PV solar power systems.

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

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