Stifel Financial Corp lessened its stake in First Solar, Inc. (NASDAQ:FSLR) by 6.3% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 87,154 shares of the solar cell manufacturer’s stock after selling 5,883 shares during the quarter. Stifel Financial Corp’s holdings in First Solar were worth $6,179,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Penserra Capital Management LLC increased its stake in First Solar by 381.4% in the 1st quarter. Penserra Capital Management LLC now owns 1,704 shares of the solar cell manufacturer’s stock worth $115,000 after buying an additional 1,350 shares during the period. NuWave Investment Management LLC purchased a new position in First Solar in the 4th quarter worth about $162,000. Compagnie Lombard Odier SCmA increased its stake in First Solar by 145.5% in the 4th quarter. Compagnie Lombard Odier SCmA now owns 2,700 shares of the solar cell manufacturer’s stock worth $182,000 after buying an additional 1,600 shares during the period. WealthTrust Fairport LLC purchased a new position in First Solar in the 4th quarter worth about $203,000. Finally, Round Hill Asset Management purchased a new position in First Solar in the 4th quarter worth about $205,000. 53.21% of the stock is currently owned by institutional investors.

In other news, insider Raffi Garabedian sold 3,162 shares of the firm’s stock in a transaction dated Tuesday, May 1st. The shares were sold at an average price of $69.67, for a total value of $220,296.54. Following the sale, the insider now directly owns 11,126 shares in the company, valued at approximately $775,148.42. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Philip Dejong sold 9,781 shares of the firm’s stock in a transaction dated Tuesday, May 1st. The shares were sold at an average price of $69.48, for a total transaction of $679,583.88. Following the completion of the sale, the chief operating officer now owns 5,040 shares in the company, valued at $350,179.20. The disclosure for this sale can be found here. Insiders sold a total of 23,531 shares of company stock worth $1,681,977 over the last 90 days. Company insiders own 0.54% of the company’s stock.

Several research firms recently commented on FSLR. TheStreet downgraded shares of First Solar from a “b-” rating to a “c” rating in a research note on Monday. ValuEngine downgraded shares of First Solar from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, June 6th. Credit Suisse Group reduced their price target on shares of First Solar from $59.00 to $53.00 and set an “underperform” rating on the stock in a research note on Thursday, June 7th. BidaskClub downgraded shares of First Solar from a “strong-buy” rating to a “buy” rating in a research note on Saturday, June 2nd. Finally, Zacks Investment Research downgraded shares of First Solar from a “buy” rating to a “hold” rating in a research note on Thursday, May 3rd. Five analysts have rated the stock with a sell rating, six have given a hold rating and twelve have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $68.50.

NASDAQ FSLR opened at $53.85 on Wednesday. The company has a current ratio of 6.81, a quick ratio of 6.49 and a debt-to-equity ratio of 0.08. The stock has a market cap of $5.43 billion, a price-to-earnings ratio of 20.79, a price-to-earnings-growth ratio of 2.93 and a beta of 1.78. First Solar, Inc. has a one year low of $35.33 and a one year high of $81.72.

First Solar (NASDAQ:FSLR) last posted its earnings results on Thursday, April 26th. The solar cell manufacturer reported $0.78 EPS for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.86. First Solar had a negative net margin of 3.51% and a positive return on equity of 6.26%. The business had revenue of $567.00 million for the quarter, compared to the consensus estimate of $421.47 million. During the same quarter last year, the firm posted $0.25 EPS. The company’s revenue for the quarter was down 36.4% on a year-over-year basis. equities research analysts expect that First Solar, Inc. will post 1.77 EPS for the current year.

First Solar Profile

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

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