Benjamin F. Edwards & Company Inc. decreased its holdings in First Solar, Inc. (NASDAQ:FSLR – Free Report) by 68.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 845 shares of the solar cell manufacturer’s stock after selling 1,861 shares during the period. Benjamin F. Edwards & Company Inc.’s holdings in First Solar were worth $184,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Financial Avengers Inc. raised its position in First Solar by 27.1% in the 4th quarter. Financial Avengers Inc. now owns 286 shares of the solar cell manufacturer’s stock worth $43,000 after purchasing an additional 61 shares during the period. Wealth Architects LLC raised its position in First Solar by 3.0% in the 4th quarter. Wealth Architects LLC now owns 2,104 shares of the solar cell manufacturer’s stock worth $315,000 after purchasing an additional 61 shares during the period. Ballentine Partners LLC raised its position in First Solar by 3.0% in the 1st quarter. Ballentine Partners LLC now owns 2,449 shares of the solar cell manufacturer’s stock worth $533,000 after purchasing an additional 72 shares during the period. Czech National Bank raised its position in First Solar by 0.6% in the 1st quarter. Czech National Bank now owns 11,680 shares of the solar cell manufacturer’s stock worth $2,540,000 after purchasing an additional 75 shares during the period. Finally, Field & Main Bank raised its stake in shares of First Solar by 7.8% during the first quarter. Field & Main Bank now owns 1,040 shares of the solar cell manufacturer’s stock valued at $226,000 after acquiring an additional 75 shares in the last quarter. 82.74% of the stock is owned by hedge funds and other institutional investors.
Insider Buying and Selling
In related news, CEO Mark R. Widmar sold 3,982 shares of the company’s stock in a transaction dated Monday, July 17th. The shares were sold at an average price of $205.00, for a total transaction of $816,310.00. Following the completion of the transaction, the chief executive officer now owns 86,181 shares in the company, valued at approximately $17,667,105. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, CEO Mark R. Widmar sold 3,982 shares of the company’s stock in a transaction dated Monday, July 17th. The shares were sold at an average price of $205.00, for a total transaction of $816,310.00. Following the completion of the sale, the chief executive officer now owns 86,181 shares of the company’s stock, valued at approximately $17,667,105. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Paul H. Stebbins sold 2,500 shares of the company’s stock in a transaction dated Friday, May 12th. The shares were sold at an average price of $229.31, for a total transaction of $573,275.00. Following the sale, the director now directly owns 28,772 shares of the company’s stock, valued at approximately $6,597,707.32. The disclosure for this sale can be found here. Insiders sold a total of 66,430 shares of company stock worth $13,561,727 in the last 90 days. Insiders own 0.58% of the company’s stock.
First Solar Trading Down 1.5 %
First Solar (NASDAQ:FSLR – Get Free Report) last issued its quarterly earnings data on Thursday, April 27th. The solar cell manufacturer reported $0.40 earnings per share for the quarter, missing analysts’ consensus estimates of $0.99 by ($0.59). First Solar had a return on equity of 0.71% and a net margin of 1.49%. The firm had revenue of $548.29 million during the quarter, compared to analyst estimates of $716.66 million. During the same quarter last year, the company posted ($0.41) EPS. The company’s revenue was up 49.4% on a year-over-year basis. As a group, equities analysts predict that First Solar, Inc. will post 7.26 earnings per share for the current fiscal year.
Wall Street Analyst Weigh In
Several analysts have recently weighed in on FSLR shares. JPMorgan Chase & Co. lifted their price target on shares of First Solar from $185.00 to $192.00 in a research note on Wednesday. Morgan Stanley downgraded shares of First Solar from an “equal weight” rating to an “underweight” rating and lifted their price target for the company from $194.00 to $200.00 in a research note on Monday, April 3rd. 51job reissued a “maintains” rating on shares of First Solar in a research note on Monday, June 26th. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of First Solar from $230.00 to $220.00 in a research note on Monday, May 1st. Finally, BMO Capital Markets assumed coverage on shares of First Solar in a research note on Monday, July 10th. They issued a “market perform” rating and a $204.00 price objective for the company. Two analysts have rated the stock with a sell rating, nine have given a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $213.12.
First Solar Company Profile
First Solar, Inc provides photovoltaic (PV) solar energy solutions in the United State, Japan, France, Canada, India, Australia, and internationally. The company designs, manufactures, and sells cadmium telluride solar modules that converts sunlight into electricity. It serves developers and operators of systems, utilities, independent power producers, commercial and industrial companies, and other system owners.
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