Moors & Cabot Inc. bought a new stake in First Solar, Inc. (NASDAQ:FSLR) during the first quarter, Holdings Channel reports. The institutional investor bought 4,710 shares of the solar cell manufacturer’s stock, valued at approximately $248,000.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. BlackRock Inc. grew its stake in First Solar by 8.4% in the fourth quarter. BlackRock Inc. now owns 7,576,706 shares of the solar cell manufacturer’s stock valued at $321,670,000 after purchasing an additional 587,389 shares in the last quarter. Millennium Management LLC grew its stake in First Solar by 523.0% in the fourth quarter. Millennium Management LLC now owns 2,065,760 shares of the solar cell manufacturer’s stock valued at $87,702,000 after purchasing an additional 1,734,171 shares in the last quarter. Park West Asset Management LLC purchased a new position in First Solar in the fourth quarter valued at about $77,966,000. Dimensional Fund Advisors LP grew its stake in First Solar by 2.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,526,286 shares of the solar cell manufacturer’s stock valued at $64,800,000 after purchasing an additional 42,066 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its stake in First Solar by 30.6% in the fourth quarter. Bank of New York Mellon Corp now owns 1,309,023 shares of the solar cell manufacturer’s stock valued at $55,575,000 after purchasing an additional 306,330 shares in the last quarter. Hedge funds and other institutional investors own 61.50% of the company’s stock.
In related news, CFO Alexander R. Bradley sold 6,427 shares of the stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $53.65, for a total transaction of $344,808.55. Following the completion of the sale, the chief financial officer now owns 6,427 shares in the company, valued at approximately $344,808.55. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Mark R. Widmar sold 33,371 shares of the stock in a transaction that occurred on Wednesday, April 10th. The shares were sold at an average price of $60.00, for a total value of $2,002,260.00. Following the sale, the chief executive officer now owns 152,510 shares of the company’s stock, valued at approximately $9,150,600. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 117,572 shares of company stock valued at $6,997,116. 0.72% of the stock is owned by corporate insiders.
FSLR opened at $59.33 on Wednesday. The stock has a market cap of $6.15 billion, a PE ratio of 43.63, a P/E/G ratio of 1.04 and a beta of 1.32. First Solar, Inc. has a 52-week low of $36.51 and a 52-week high of $75.14. The company has a quick ratio of 3.83, a current ratio of 4.38 and a debt-to-equity ratio of 0.11.
First Solar (NASDAQ:FSLR) last released its quarterly earnings results on Thursday, May 2nd. The solar cell manufacturer reported ($0.64) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.12) by ($0.52). The company had revenue of $532.00 million for the quarter, compared to the consensus estimate of $596.32 million. First Solar had a negative return on equity of 0.12% and a negative net margin of 0.28%. The business’s revenue was down 6.2% compared to the same quarter last year. During the same quarter last year, the company posted $0.78 EPS. On average, equities research analysts forecast that First Solar, Inc. will post 2.41 earnings per share for the current year.
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First Solar Profile
First Solar, Inc provides photovoltaic (PV) solar energy solutions in the United States and internationally. It operates in two segments, Modules 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 of PV solar power systems.
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