Itau Unibanco Holding S.A. lowered its stake in First Solar, Inc. (NASDAQ:FSLR) by 75.8% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,960 shares of the solar cell manufacturer’s stock after selling 6,145 shares during the quarter. Itau Unibanco Holding S.A.’s holdings in First Solar were worth $103,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in FSLR. Penserra Capital Management LLC lifted its stake in First Solar by 381.4% in the first quarter. Penserra Capital Management LLC now owns 1,704 shares of the solar cell manufacturer’s stock valued at $115,000 after buying an additional 1,350 shares in the last quarter. FNY Investment Advisers LLC bought a new position in First Solar in the second quarter valued at approximately $151,000. Cavalry Management Group LLC bought a new position in First Solar in the first quarter valued at approximately $206,000. BSW Wealth Partners bought a new position in First Solar in the first quarter valued at approximately $226,000. Finally, Lido Advisors LLC bought a new position in First Solar in the first quarter valued at approximately $234,000. 54.22% of the stock is currently owned by hedge funds and other institutional investors.

A number of research analysts have weighed in on the stock. BidaskClub lowered shares of First Solar from a “sell” rating to a “strong sell” rating in a research note on Wednesday. Zacks Investment Research raised shares of First Solar from a “sell” rating to a “hold” rating in a research note on Thursday, August 2nd. JPMorgan Chase & Co. set a $79.00 price target on shares of First Solar and gave the company a “buy” rating in a research note on Wednesday, August 1st. Cowen reaffirmed a “buy” rating and issued a $85.00 price target on shares of First Solar in a research note on Friday, July 27th. Finally, Roth Capital set a $90.00 price target on shares of First Solar and gave the company a “buy” rating in a research note on Friday, July 27th. Five analysts have rated the stock with a sell rating, seven have given a hold rating and nine have given a buy rating to the company. First Solar currently has an average rating of “Hold” and a consensus price target of $70.85.

In other news, CTO Raffi Garabedian sold 4,159 shares of First Solar stock in a transaction that occurred on Wednesday, August 1st. The shares were sold at an average price of $52.91, for a total value of $220,052.69. Following the sale, the chief technology officer now directly owns 5,520 shares in the company, valued at $292,063.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Georges Antoun sold 3,142 shares of First Solar stock in a transaction that occurred on Monday, July 23rd. The shares were sold at an average price of $52.72, for a total transaction of $165,646.24. Following the completion of the sale, the insider now owns 71,251 shares in the company, valued at $3,756,352.72. The disclosure for this sale can be found here. Insiders sold 14,756 shares of company stock worth $774,803 over the last quarter. 0.54% of the stock is owned by corporate insiders.

NASDAQ FSLR opened at $48.90 on Thursday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 4.60 and a current ratio of 4.89. First Solar, Inc. has a 12-month low of $45.26 and a 12-month high of $81.72. The company has a market capitalization of $5.08 billion, a PE ratio of 23.99, a price-to-earnings-growth ratio of 1.81 and a beta of 1.48.

First Solar (NASDAQ:FSLR) last posted its quarterly earnings data on Thursday, July 26th. The solar cell manufacturer reported ($0.46) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.03) by ($0.43). First Solar had a negative net margin of 8.35% and a positive return on equity of 4.12%. The business had revenue of $309.00 million during the quarter, compared to analyst estimates of $509.19 million. During the same quarter last year, the business earned $0.64 earnings per share. First Solar’s revenue for the quarter was down 50.4% on a year-over-year basis. analysts predict that First Solar, Inc. will post 1.68 EPS for the current fiscal 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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