Moors & Cabot Inc. Acquires Shares of 4,710 First Solar, Inc. (FSLR)

Moors & Cabot Inc. acquired a new position in shares of First Solar, Inc. (NASDAQ:FSLR) during the 1st quarter, HoldingsChannel.com reports. The fund acquired 4,710 shares of the solar cell manufacturer’s stock, valued at approximately $248,000.

Other large investors have also recently made changes to their positions in the company. Handelsbanken Fonder AB grew its holdings in shares of First Solar by 22.7% during the 4th quarter. Handelsbanken Fonder AB now owns 252,191 shares of the solar cell manufacturer’s stock worth $10,707,000 after purchasing an additional 46,730 shares in the last quarter. Texas Permanent School Fund lifted its position in shares of First Solar by 3.8% during the 1st quarter. Texas Permanent School Fund now owns 51,280 shares of the solar cell manufacturer’s stock worth $2,710,000 after buying an additional 1,895 shares during the period. Bank of New York Mellon Corp lifted its position in shares of First Solar by 30.6% during the 4th quarter. Bank of New York Mellon Corp now owns 1,309,023 shares of the solar cell manufacturer’s stock worth $55,575,000 after buying an additional 306,330 shares during the period. Comerica Bank lifted its position in shares of First Solar by 1.3% during the 4th quarter. Comerica Bank now owns 49,442 shares of the solar cell manufacturer’s stock worth $2,476,000 after buying an additional 638 shares during the period. Finally, Louisiana State Employees Retirement System lifted its position in shares of First Solar by 1.0% during the 1st quarter. Louisiana State Employees Retirement System now owns 20,200 shares of the solar cell manufacturer’s stock worth $1,067,000 after buying an additional 200 shares during the period. 62.15% of the stock is currently owned by institutional investors.

Shares of FSLR opened at $57.33 on Friday. 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, Inc. has a 52-week low of $36.51 and a 52-week high of $69.89. The firm has a market capitalization of $6.10 billion, a price-to-earnings ratio of 42.15, a price-to-earnings-growth ratio of 1.05 and a beta of 1.32.

First Solar (NASDAQ:FSLR) last issued its quarterly earnings data on Thursday, May 2nd. The solar cell manufacturer reported ($0.64) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.12) by ($0.52). First Solar had a negative net margin of 0.28% and a negative return on equity of 0.12%. The business had revenue of $532.00 million during the quarter, compared to the consensus estimate of $596.32 million. During the same quarter in the previous year, the firm posted $0.78 EPS. The company’s revenue for the quarter was down 6.2% compared to the same quarter last year. On average, equities research analysts forecast that First Solar, Inc. will post 2.41 earnings per share for the current year.

In other First Solar news, CEO Mark R. Widmar sold 33,371 shares of First Solar stock in a transaction on Wednesday, April 10th. The stock was sold at an average price of $60.00, for a total value of $2,002,260.00. Following the completion of the transaction, the chief executive officer now owns 152,510 shares in the company, valued at approximately $9,150,600. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Alexander R. Bradley sold 6,427 shares of First Solar stock in a transaction on Friday, March 1st. The shares were sold at an average price of $53.65, for a total value of $344,808.55. Following the completion of the transaction, the chief financial officer now owns 6,427 shares of the company’s stock, valued at approximately $344,808.55. The disclosure for this sale can be found here. In the last quarter, insiders sold 117,572 shares of company stock valued at $6,997,116. Corporate insiders own 0.72% of the company’s stock.

Several equities analysts recently commented on FSLR shares. BidaskClub upgraded First Solar from a “sell” rating to a “hold” rating in a research report on Friday, January 25th. Roth Capital cut their target price on First Solar to $60.00 and set a “buy” rating for the company in a research report on Friday, February 15th. Zacks Investment Research downgraded First Solar from a “hold” rating to a “sell” rating in a research report on Friday, February 22nd. JPMorgan Chase & Co. cut their target price on First Solar to $70.00 and set an “overweight” rating for the company in a research report on Friday, February 22nd. Finally, Bank of America restated a “buy” rating and set a $60.00 target price on shares of First Solar in a research report on Tuesday, February 26th. One analyst has rated the stock with a sell rating, six have given a hold rating and eleven have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $63.85.

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About First Solar

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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Institutional Ownership by Quarter for First Solar (NASDAQ:FSLR)

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