First Solar, Inc. (FSLR) Stake Cut by Pioneer Investment Management Inc.
Pioneer Investment Management Inc. decreased its stake in First Solar, Inc. (NASDAQ:FSLR) by 2.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,072,916 shares of the solar cell manufacturer’s stock after selling 28,268 shares during the period. Pioneer Investment Management Inc. owned about 1.03% of First Solar worth $42,788,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Benjamin F. Edwards & Company Inc. raised its position in First Solar by 57.6% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 2,600 shares of the solar cell manufacturer’s stock valued at $104,000 after buying an additional 950 shares during the last quarter. Amica Retiree Medical Trust raised its position in First Solar by 814.5% in the first quarter. Amica Retiree Medical Trust now owns 4,097 shares of the solar cell manufacturer’s stock valued at $111,000 after buying an additional 3,649 shares during the last quarter. LS Investment Advisors LLC raised its position in First Solar by 36.7% in the first quarter. LS Investment Advisors LLC now owns 5,275 shares of the solar cell manufacturer’s stock valued at $143,000 after buying an additional 1,417 shares during the last quarter. Trust Co. of Vermont raised its position in First Solar by 27.8% in the first quarter. Trust Co. of Vermont now owns 5,477 shares of the solar cell manufacturer’s stock valued at $149,000 after buying an additional 1,190 shares during the last quarter. Finally, James Investment Research Inc. purchased a new position in First Solar during the first quarter valued at approximately $163,000. 60.75% of the stock is owned by institutional investors.
First Solar, Inc. (NASDAQ:FSLR) opened at 47.84 on Wednesday. The firm’s market cap is $5.00 billion. The company has a 50-day moving average of $42.36 and a 200 day moving average of $35.18. First Solar, Inc. has a one year low of $25.56 and a one year high of $50.21.
First Solar (NASDAQ:FSLR) last released its quarterly earnings results on Thursday, July 27th. The solar cell manufacturer reported $0.64 EPS for the quarter, topping the consensus estimate of $0.04 by $0.60. The company had revenue of $623 million for the quarter, compared to analyst estimates of $591.55 million. First Solar had a positive return on equity of 6.43% and a negative net margin of 18.80%. The firm’s revenue was down 38.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.87 earnings per share. Equities research analysts expect that First Solar, Inc. will post $2.23 earnings per share for the current fiscal year.
FSLR has been the subject of several recent analyst reports. Roth Capital raised shares of First Solar from a “neutral” rating to a “buy” rating and set a $40.00 price objective for the company in a research note on Thursday, April 27th. BidaskClub raised shares of First Solar from a “hold” rating to a “buy” rating in a research note on Wednesday, June 28th. Cowen and Company set a $40.00 price objective on shares of First Solar and gave the stock a “buy” rating in a research note on Monday, July 10th. Vetr lowered shares of First Solar from a “strong-buy” rating to a “buy” rating and set a $47.53 price objective for the company. in a research note on Monday, July 17th. Finally, Axiom Securities raised shares of First Solar from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $45.40 to $51.00 in a research note on Wednesday, July 19th. One investment analyst has rated the stock with a sell rating, nineteen have assigned a hold rating and nine have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $43.35.
In other news, Director J Thomas Presby purchased 4,000 shares of the business’s stock in a transaction on Thursday, May 11th. The shares were bought at an average price of $36.89 per share, with a total value of $147,560.00. Following the completion of the transaction, the director now directly owns 17,958 shares in the company, valued at approximately $662,470.62. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Alexander R. Bradley sold 566 shares of First Solar stock in a transaction that occurred on Tuesday, August 8th. The stock was sold at an average price of $48.66, for a total value of $27,541.56. Following the transaction, the chief financial officer now directly owns 963 shares in the company, valued at approximately $46,859.58. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 95,909 shares of company stock worth $4,705,246. 0.40% of the stock is currently owned by corporate insiders.
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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