First Solar, Inc. (FSLR) Stake Lowered by First Trust Advisors LP

First Trust Advisors LP cut its holdings in First Solar, Inc. (NASDAQ:FSLR) by 25.7% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 73,555 shares of the solar cell manufacturer’s stock after selling 25,483 shares during the quarter. First Trust Advisors LP owned 0.07% of First Solar worth $3,562,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Vident Investment Advisory LLC increased its position in shares of First Solar by 2.2% in the second quarter. Vident Investment Advisory LLC now owns 53,443 shares of the solar cell manufacturer’s stock valued at $2,814,000 after buying an additional 1,162 shares in the last quarter. Lansdowne Partners UK LLP increased its position in shares of First Solar by 147.5% in the second quarter. Lansdowne Partners UK LLP now owns 325,582 shares of the solar cell manufacturer’s stock valued at $17,145,000 after buying an additional 194,033 shares in the last quarter. Alps Advisors Inc. purchased a new stake in shares of First Solar in the second quarter valued at approximately $442,000. Centaurus Financial Inc. purchased a new stake in shares of First Solar in the second quarter valued at approximately $113,000. Finally, Barings LLC increased its position in shares of First Solar by 96.4% in the second quarter. Barings LLC now owns 11,000 shares of the solar cell manufacturer’s stock valued at $579,000 after buying an additional 5,400 shares in the last quarter. Institutional investors and hedge funds own 52.88% of the company’s stock.

A number of analysts have recently commented on FSLR shares. Roth Capital set a $65.00 price objective on First Solar and gave the company a “buy” rating in a research report on Friday, October 26th. Zacks Investment Research cut First Solar from a “hold” rating to a “sell” rating in a research report on Friday, October 12th. JMP Securities upgraded First Solar from an “underperform” rating to a “market perform” rating in a research report on Friday, October 26th. They noted that the move was a valuation call. JPMorgan Chase & Co. set a $79.00 price target on First Solar and gave the stock a “buy” rating in a research report on Wednesday, August 1st. Finally, UBS Group set a $85.00 price target on First Solar and gave the stock a “buy” rating in a research report on Friday, October 26th. Three analysts have rated the stock with a sell rating, nine have given a hold rating and nine have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $68.03.

Shares of FSLR opened at $43.34 on Friday. The company has a debt-to-equity ratio of 0.09, a current ratio of 4.48 and a quick ratio of 4.14. First Solar, Inc. has a one year low of $36.51 and a one year high of $81.72. The company has a market cap of $4.54 billion, a P/E ratio of 71.05, a PEG ratio of 1.78 and a beta of 1.38.

First Solar (NASDAQ:FSLR) last issued its quarterly earnings results on Thursday, October 25th. The solar cell manufacturer reported $0.54 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.45 by $0.09. First Solar had a positive return on equity of 1.29% and a negative net margin of 17.98%. The firm had revenue of $676.22 million during the quarter, compared to analysts’ expectations of $683.93 million. As a group, equities analysts predict that First Solar, Inc. will post 1.51 EPS for the current year.

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 transaction 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 filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.54% of the company’s stock.

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About First Solar

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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