Janus Capital Management LLC reduced its position in shares of First Solar, Inc. (NASDAQ:FSLR) by 90.0% during the fourth quarter, Holdings Channel reports. The firm owned 36,522 shares of the solar cell manufacturer’s stock after selling 330,412 shares during the period. Janus Capital Management LLC’s holdings in First Solar were worth $1,172,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also made changes to their positions in FSLR. Cornerstone Advisors Inc. increased its position in shares of First Solar by 2,220.9% in the third quarter. Cornerstone Advisors Inc. now owns 2,994 shares of the solar cell manufacturer’s stock worth $118,000 after buying an additional 2,865 shares during the period. LS Investment Advisors LLC increased its position in shares of First Solar by 21.7% in the third quarter. LS Investment Advisors LLC now owns 3,387 shares of the solar cell manufacturer’s stock worth $134,000 after buying an additional 605 shares during the period. Virtus Investment Advisers Inc. acquired a new position in shares of First Solar during the third quarter worth about $139,000. SRB Corp increased its position in shares of First Solar by 48.0% in the third quarter. SRB Corp now owns 4,236 shares of the solar cell manufacturer’s stock worth $167,000 after buying an additional 1,374 shares during the period. Finally, Trust Co. of Vermont increased its position in shares of First Solar by 2.1% in the third quarter. Trust Co. of Vermont now owns 4,989 shares of the solar cell manufacturer’s stock worth $197,000 after buying an additional 105 shares during the period. Hedge funds and other institutional investors own 58.02% of the company’s stock.
Shares of First Solar, Inc. (NASDAQ:FSLR) opened at 31.83 on Monday. First Solar, Inc. has a 12-month low of $28.60 and a 12-month high of $74.29. The firm has a 50 day moving average price of $33.47 and a 200 day moving average price of $34.88. The stock’s market cap is $3.31 billion.
First Solar (NASDAQ:FSLR) last posted its earnings results on Tuesday, February 21st. The solar cell manufacturer reported $1.24 EPS for the quarter, topping the Zacks’ consensus estimate of $0.97 by $0.27. The business earned $480.43 million during the quarter, compared to analyst estimates of $412.76 million. First Solar had a return on equity of 9.58% and a net margin of 14.72%. The company’s quarterly revenue was down 49.0% compared to the same quarter last year. During the same quarter last year, the company earned $1.60 EPS. On average, equities analysts expect that First Solar, Inc. will post $0.35 EPS for the current year.
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A number of brokerages have issued reports on FSLR. Vetr upgraded First Solar from a “hold” rating to a “buy” rating and set a $33.19 price objective for the company in a research note on Monday. JMP Securities reduced their price objective on First Solar from $31.00 to $25.00 and set a “market perform” rating for the company in a research note on Wednesday, March 15th. Credit Suisse Group AG restated a “neutral” rating and issued a $30.00 price objective (down previously from $50.00) on shares of First Solar in a research note on Thursday, December 29th. Needham & Company LLC restated a “hold” rating on shares of First Solar in a research note on Wednesday, February 22nd. Finally, TheStreet downgraded First Solar from a “c” rating to a “d+” rating in a research note on Tuesday, February 21st. Four analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and six have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $44.31.
In related news, CFO Alexander R. Bradley sold 1,706 shares of First Solar stock in a transaction on Wednesday, March 15th. The stock was sold at an average price of $32.06, for a total value of $54,694.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Alexander R. Bradley sold 905 shares of First Solar stock in a transaction on Thursday, March 9th. The stock was sold at an average price of $32.56, for a total value of $29,466.80. Following the completion of the sale, the chief financial officer now directly owns 571 shares of the company’s stock, valued at approximately $18,591.76. The disclosure for this sale can be found here. In the last three months, insiders sold 11,103 shares of company stock valued at $370,257. Corporate insiders own 0.40% of the company’s stock.
About First Solar
First Solar, Inc is a provider of photovoltaic (PV) solar energy solutions. The Company designs, manufactures and sells PV solar modules with thin-film semiconductor technology, and also develops, designs, constructs and sells PV solar power solutions. The Company operates through two segments: components and systems.
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