First Solar (FSLR) : Lansdowne Partners (uk) Llp reduced its stake in First Solar by 15.42% during the most recent quarter end. The investment management company now holds a total of 47,027 shares of First Solar which is valued at $1,824,177 after selling 8,576 shares in First Solar , the firm said in a disclosure report filed with the SEC on Aug 15, 2016.First Solar makes up approximately 0.02% of Lansdowne Partners (uk) Llp’s portfolio.
Other Hedge Funds, Including , Teachers Advisors Inc reduced its stake in FSLR by selling 25,044 shares or 19.83% in the most recent quarter. The Hedge Fund company now holds 101,224 shares of FSLR which is valued at $3,926,479. First Solar makes up approx 0.01% of Teachers Advisors Inc’s portfolio.Cutter Co Brokerage reduced its stake in FSLR by selling 15 shares or 0.36% in the most recent quarter. The Hedge Fund company now holds 4,160 shares of FSLR which is valued at $204,838. First Solar makes up approx 0.09% of Cutter Co Brokerage’s portfolio.Regentatlantic Capital reduced its stake in FSLR by selling 2,490 shares or 29.37% in the most recent quarter. The Hedge Fund company now holds 5,989 shares of FSLR which is valued at $290,047. First Solar makes up approx 0.03% of Regentatlantic Capital’s portfolio.
First Solar opened for trading at $37.82 and hit $38.47 on the upside on Thursday, eventually ending the session at $38.44, with a gain of 1.64% or 0.62 points. The heightened volatility saw the trading volume jump to 24,09,415 shares. Company has a market cap of $3,935 M.
On the company’s financial health, First Solar reported $0.87 EPS for the quarter, beating the analyst consensus estimate by $ 0.32 according to the earnings call on Aug 3, 2016. Analyst had a consensus of $0.55. The company had revenue of $934.00 million for the quarter, compared to analysts expectations of $862.68 million. The company’s revenue was up 4.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.93 EPS.
Many Wall Street Analysts have commented on First Solar. Shares were Reiterated by Barclays on Aug 10, 2016 to “Overweight” and Lowered the Price Target to $ 50 from a previous price target of $68 .Shares were Reiterated by Mizuho on Aug 10, 2016 to “Neutral” and Lowered the Price Target to $ 46 from a previous price target of $67 .Shares were Downgraded by Deutsche Bank on Jul 7, 2016 to ” Hold” and Lowered the Price Target to $ 44 from a previous price target of $80 .
First Solar Inc. is a global provider of solar energy solutions. The Company designs manufactures and sells photovoltaic (PV) solar modules and also develops designs constructs and sells PV solar power solutions. The Company operates through two segments: components and systems. The Companys components segment involves the design manufacture and sale of solar modules which convert sunlight into electricity. The systems segment provides turn-key PV solar power systems or solar solutions for systems primarily using its solar modules. The Company also manufactures crystalline silicon solar modules and single-axis mounting systems with tracking capabilities. The Company offers its products and services for residential commercial and industrial applications including solar power system project developers system integrators and solar plant operators throughout the Americas Asia Australia the Middle East and Africa.