Rice Hall James & Associates LLC Has $2,258,000 Position in First Solar Inc. (FSLR)
Rice Hall James & Associates LLC decreased its position in First Solar Inc. (NASDAQ:FSLR) by 0.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 46,566 shares of the solar cell manufacturer’s stock after selling 74 shares during the period. Rice Hall James & Associates LLC’s holdings in First Solar were worth $2,258,000 as of its most recent SEC filing.
Other hedge funds also recently bought and sold shares of the company. LS Investment Advisors LLC raised its position in First Solar by 27.2% in the second quarter. LS Investment Advisors LLC now owns 2,782 shares of the solar cell manufacturer’s stock valued at $135,000 after buying an additional 595 shares during the period. Edmond DE Rothschild Holding S.A. raised its position in First Solar by 1,966.7% in the first quarter. Edmond DE Rothschild Holding S.A. now owns 3,100 shares of the solar cell manufacturer’s stock valued at $212,000 after buying an additional 2,950 shares during the period. Guinness Asset Management Ltd raised its position in First Solar by 60.9% in the second quarter. Guinness Asset Management Ltd now owns 3,700 shares of the solar cell manufacturer’s stock valued at $179,000 after buying an additional 1,400 shares during the period. ING Groep NV acquired a new position in First Solar during the first quarter valued at approximately $294,000. Finally, Scotia Capital Inc. acquired a new position in First Solar during the first quarter valued at approximately $302,000. 57.50% of the stock is currently owned by institutional investors and hedge funds.
Shares of First Solar Inc. (NASDAQ:FSLR) traded down 5.46% on Friday, hitting $37.58. 4,532,363 shares of the stock were exchanged. The firm’s 50-day moving average is $37.43 and its 200-day moving average is $48.29. The company has a market cap of $3.85 billion, a P/E ratio of 5.53 and a beta of 1.54. First Solar Inc. has a one year low of $33.74 and a one year high of $74.29.
First Solar (NASDAQ:FSLR) last posted its earnings results on Wednesday, August 3rd. The solar cell manufacturer reported $0.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.55 by $0.32. The firm earned $934.40 million during the quarter, compared to analyst estimates of $862.68 million. First Solar had a net margin of 17.45% and a return on equity of 13.78%. First Solar’s revenue was up 4.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.93 EPS. On average, equities analysts forecast that First Solar Inc. will post $4.25 EPS for the current fiscal year.
Several equities analysts recently commented on the company. Goldman Sachs Group Inc. reissued a “buy” rating on shares of First Solar in a report on Friday. Vetr lowered First Solar from a “strong-buy” rating to a “buy” rating and set a $43.85 target price on the stock. in a report on Thursday. Williams Capital assumed coverage on First Solar in a report on Friday, September 30th. They issued a “buy” rating and a $50.00 target price on the stock. JPMorgan Chase & Co. reissued a “hold” rating and issued a $53.00 target price (down previously from $65.00) on shares of First Solar in a report on Wednesday, September 28th. Finally, JMP Securities set a $32.00 target price on First Solar and gave the company a “sell” rating in a report on Saturday, September 17th. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating and twelve have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $56.83.
In other First Solar news, EVP Christopher Bueter sold 29,384 shares of the business’s stock in a transaction dated Friday, August 5th. The shares were sold at an average price of $44.23, for a total transaction of $1,299,654.32. Following the completion of the transaction, the executive vice president now directly owns 17,718 shares of the company’s stock, valued at approximately $783,667.14. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Georges Antoun sold 133,761 shares of the business’s stock in a transaction dated Friday, August 5th. The shares were sold at an average price of $44.54, for a total transaction of $5,957,714.94. Following the transaction, the insider now directly owns 151,471 shares of the company’s stock, valued at $6,746,518.34. The disclosure for this sale can be found here. Company insiders own 0.40% of the company’s stock.
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 thin-film semiconductor technology, and also develops, designs, constructs and sells PV solar power solutions. The Company operates through two segments: components and systems.
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