SFE Investment Counsel raised its holdings in shares of First Solar, Inc. (NASDAQ:FSLR) by 11.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 57,705 shares of the solar cell manufacturer’s stock after buying an additional 6,052 shares during the period. First Solar comprises 1.4% of SFE Investment Counsel’s investment portfolio, making the stock its 26th largest position. SFE Investment Counsel owned 0.05% of First Solar worth $5,223,000 as of its most recent SEC filing.
Several other institutional investors have also added to or reduced their stakes in the company. O Shaughnessy Asset Management LLC lifted its position in First Solar by 627.5% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 291 shares of the solar cell manufacturer’s stock worth $25,000 after acquiring an additional 251 shares in the last quarter. Atlas Capital Advisors LLC purchased a new stake in shares of First Solar during the first quarter valued at approximately $26,000. Certified Advisory Corp acquired a new position in shares of First Solar during the first quarter worth $38,000. Eaton Vance Management purchased a new position in shares of First Solar in the first quarter valued at $39,000. Finally, IFP Advisors Inc grew its holdings in First Solar by 142.5% during the 1st quarter. IFP Advisors Inc now owns 633 shares of the solar cell manufacturer’s stock valued at $55,000 after purchasing an additional 372 shares in the last quarter. 73.18% of the stock is owned by institutional investors.
In related news, Director R Craig Kennedy sold 550 shares of the stock in a transaction dated Thursday, July 15th. The shares were sold at an average price of $89.03, for a total value of $48,966.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Georges Antoun sold 24,052 shares of the company’s stock in a transaction that occurred on Monday, July 12th. The stock was sold at an average price of $95.20, for a total transaction of $2,289,750.40. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 39,827 shares of company stock worth $3,694,772. Corporate insiders own 0.55% of the company’s stock.
First Solar (NASDAQ:FSLR) last released its quarterly earnings data on Thursday, July 29th. The solar cell manufacturer reported $0.77 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.60 by $0.17. The business had revenue of $629.18 million for the quarter, compared to analysts’ expectations of $632.03 million. First Solar had a net margin of 18.96% and a return on equity of 10.05%. During the same quarter last year, the company earned $0.35 EPS. On average, research analysts forecast that First Solar, Inc. will post 4.32 EPS for the current fiscal year.
A number of equities analysts have weighed in on the stock. Bank of America upped their price objective on shares of First Solar from $95.00 to $111.00 and gave the company a “buy” rating in a research report on Thursday, July 1st. TheStreet upgraded First Solar from a “c” rating to a “b-” rating in a research note on Friday, June 25th. Stephens initiated coverage on First Solar in a research report on Thursday, June 24th. They issued an “overweight” rating and a $102.00 target price on the stock. Wolfe Research assumed coverage on shares of First Solar in a research report on Tuesday, August 31st. They set a “peer perform” rating and a $100.00 price target for the company. Finally, Piper Sandler lifted their price target on shares of First Solar from $80.00 to $89.00 and gave the stock a “neutral” rating in a research note on Monday, August 2nd. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $101.48.
First Solar Company Profile
First Solar, Inc engages in designing, manufacturing, marketing, and distribution of photovoltaic solar power systems and solar modules. It operates through the Modules and Systems segments. The Modules segment involves in the design, manufacture, and sale of cadmium telluride solar modules, which convert sunlight into electricity.
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