Personal Capital Advisors Corp cut its holdings in shares of First Solar, Inc. (NASDAQ:FSLR) by 96.4% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 12,588 shares of the solar cell manufacturer’s stock after selling 340,840 shares during the quarter. Personal Capital Advisors Corp’s holdings in First Solar were worth $610,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. NEXT Financial Group Inc purchased a new stake in shares of First Solar during the 3rd quarter worth about $162,000. We Are One Seven LLC purchased a new stake in shares of First Solar during the 3rd quarter worth about $203,000. Schroder Investment Management Group raised its stake in shares of First Solar by 4.5% during the 2nd quarter. Schroder Investment Management Group now owns 174,352 shares of the solar cell manufacturer’s stock worth $9,089,000 after purchasing an additional 7,556 shares in the last quarter. Advisors Asset Management Inc. purchased a new stake in shares of First Solar during the 2nd quarter worth about $208,000. Finally, Energy Opportunities Capital Management LLC raised its stake in shares of First Solar by 25.5% during the 2nd quarter. Energy Opportunities Capital Management LLC now owns 37,908 shares of the solar cell manufacturer’s stock worth $1,996,000 after purchasing an additional 7,700 shares in the last quarter. Hedge funds and other institutional investors own 54.20% of the company’s stock.

Shares of FSLR stock opened at $45.53 on Friday. The company has a current ratio of 4.89, a quick ratio of 4.60 and a debt-to-equity ratio of 0.09. First Solar, Inc. has a twelve month low of $44.72 and a twelve month high of $81.72. The company has a market capitalization of $5.07 billion, a P/E ratio of 17.58, a P/E/G ratio of 1.81 and a beta of 1.46.

First Solar (NASDAQ:FSLR) last issued its quarterly earnings data on Thursday, July 26th. The solar cell manufacturer reported ($0.46) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.03) by ($0.43). First Solar had a negative net margin of 8.35% and a positive return on equity of 4.12%. The company had revenue of $309.00 million during the quarter, compared to the consensus estimate of $509.19 million. During the same period in the previous year, the business posted $0.64 earnings per share. The firm’s revenue was down 50.4% on a year-over-year basis. On average, research analysts forecast that First Solar, Inc. will post 1.68 EPS for the current year.

FSLR has been the subject of a number of recent research reports. ValuEngine downgraded First Solar from a “buy” rating to a “hold” rating in a research note on Tuesday, July 24th. BidaskClub downgraded First Solar from a “buy” rating to a “hold” rating in a research note on Thursday, June 21st. Zacks Investment Research downgraded First Solar from a “hold” rating to a “sell” rating in a research note on Friday. Morgan Stanley cut their price target on First Solar from $64.00 to $61.00 and set an “equal weight” rating for the company in a research note on Monday, July 16th. Finally, Roth Capital set a $90.00 price target on First Solar and gave the stock a “buy” rating in a research note on Friday, July 27th. Six research analysts have rated the stock with a sell rating, six have given a hold rating and nine have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $70.85.

In related news, insider Georges Antoun sold 3,142 shares of the firm’s stock in a transaction that occurred on Monday, July 23rd. The stock was sold at an average price of $52.72, for a total value of $165,646.24. Following the transaction, the insider now directly owns 71,251 shares of the company’s stock, valued at approximately $3,756,352.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CTO Raffi Garabedian sold 4,159 shares of the firm’s stock in a transaction that occurred on Wednesday, August 1st. The shares were sold at an average price of $52.91, for a total value of $220,052.69. Following the completion of the transaction, the chief technology officer now directly owns 5,520 shares in the company, valued at $292,063.20. The disclosure for this sale can be found here. Insiders sold a total of 11,614 shares of company stock worth $609,251 over the last three months. 0.54% of the stock is owned by company insiders.

First Solar Company Profile

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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