Personal Capital Advisors Corp Sells 340,840 Shares of First Solar, Inc. (FSLR)

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Personal Capital Advisors Corp lessened its position in shares of First Solar, Inc. (NASDAQ:FSLR) by 96.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 12,588 shares of the solar cell manufacturer’s stock after selling 340,840 shares during the quarter. Personal Capital Advisors Corp’s holdings in First Solar were worth $610,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently made changes to their positions in the company. NEXT Financial Group Inc acquired a new stake in shares of First Solar during the 3rd quarter worth approximately $162,000. We Are One Seven LLC acquired a new stake in shares of First Solar during the 3rd quarter worth approximately $203,000. Schroder Investment Management Group grew its holdings in shares of First Solar by 4.5% during the 2nd quarter. Schroder Investment Management Group now owns 174,352 shares of the solar cell manufacturer’s stock worth $9,089,000 after purchasing an additional 7,556 shares in the last quarter. Advisors Asset Management Inc. acquired a new stake in shares of First Solar during the 2nd quarter worth approximately $208,000. Finally, Energy Opportunities Capital Management LLC grew its holdings in shares of First Solar by 25.5% during the 2nd quarter. Energy Opportunities Capital Management LLC now owns 37,908 shares of the solar cell manufacturer’s stock worth $1,996,000 after purchasing an additional 7,700 shares in the last quarter. 54.20% of the stock is currently owned by institutional investors.

Shares of FSLR stock opened at $45.53 on Friday. The company has a current ratio of 4.89, a quick ratio of 4.60 and a debt-to-equity ratio of 0.09. The firm has a market capitalization of $5.07 billion, a P/E ratio of 17.58, a P/E/G ratio of 1.81 and a beta of 1.46. First Solar, Inc. has a one year low of $44.72 and a one year high of $81.72.

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

Several analysts have recently weighed in on the company. Zacks Investment Research lowered First Solar from a “hold” rating to a “sell” rating in a report on Wednesday, July 4th. BidaskClub lowered First Solar from a “buy” rating to a “hold” rating in a report on Thursday, June 21st. Credit Suisse Group raised First Solar from an “underperform” rating to a “neutral” rating and set a $53.00 price target on the stock in a research note on Tuesday, June 19th. 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, Needham & Company LLC decreased their price target on First Solar to $75.00 and set a “buy” rating on the stock in a research note on Friday, July 27th. Six analysts have rated the stock with a sell rating, six have assigned a hold rating and nine have given a buy rating to the company. First Solar presently has an average rating of “Hold” and an average target price of $70.85.

In other First Solar news, insider Raffi Garabedian sold 3,863 shares of the business’s stock in a transaction on Tuesday, September 4th. The stock was sold at an average price of $51.61, for a total value of $199,369.43. Following the transaction, the insider now owns 2,057 shares of the company’s stock, valued at $106,161.77. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Georges Antoun sold 3,142 shares of the business’s stock in a transaction on Monday, July 23rd. The stock was sold at an average price of $52.72, for a total value of $165,646.24. Following the completion of the transaction, the insider now directly owns 71,251 shares in the company, valued at approximately $3,756,352.72. The disclosure for this sale can be found here. In the last ninety days, insiders sold 11,614 shares of company stock worth $609,251. 0.54% of the stock is owned by insiders.

First Solar Company 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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