First Solar, Inc. (NASDAQ:FSLR) Position Lessened by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans reduced its stake in shares of First Solar, Inc. (NASDAQ:FSLR) by 10.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,506 shares of the solar cell manufacturer’s stock after selling 512 shares during the quarter. Thrivent Financial for Lutherans’ holdings in First Solar were worth $1,016,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Campbell & CO Investment Adviser LLC bought a new stake in First Solar in the 4th quarter valued at about $503,000. The Manufacturers Life Insurance Company grew its holdings in First Solar by 4.9% in the 4th quarter. The Manufacturers Life Insurance Company now owns 89,452 shares of the solar cell manufacturer’s stock worth $15,413,000 after buying an additional 4,149 shares in the last quarter. Tower Research Capital LLC TRC increased its position in First Solar by 34.4% in the 4th quarter. Tower Research Capital LLC TRC now owns 15,187 shares of the solar cell manufacturer’s stock valued at $2,616,000 after acquiring an additional 3,887 shares during the period. 1832 Asset Management L.P. raised its stake in First Solar by 114.7% during the 4th quarter. 1832 Asset Management L.P. now owns 28,420 shares of the solar cell manufacturer’s stock valued at $4,896,000 after acquiring an additional 15,181 shares in the last quarter. Finally, Cibc World Markets Corp boosted its position in First Solar by 130.6% during the 4th quarter. Cibc World Markets Corp now owns 13,598 shares of the solar cell manufacturer’s stock worth $2,343,000 after acquiring an additional 7,702 shares during the period. 92.08% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, CAO Byron Michael Jeffers sold 500 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $220.00, for a total transaction of $110,000.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, insider Patrick James Buehler sold 8,619 shares of the stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $222.00, for a total transaction of $1,913,418.00. Following the transaction, the insider now owns 3,468 shares of the company’s stock, valued at approximately $769,896. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Byron Michael Jeffers sold 500 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $220.00, for a total value of $110,000.00. The disclosure for this sale can be found here. Insiders sold a total of 10,885 shares of company stock worth $2,405,757 in the last three months. 0.58% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. William Blair assumed coverage on shares of First Solar in a report on Thursday, August 29th. They issued a “market perform” rating for the company. Clarkson Capital assumed coverage on shares of First Solar in a report on Wednesday, August 14th. They issued a “buy” rating and a $270.00 price objective for the company. Janney Montgomery Scott cut First Solar from a “buy” rating to a “neutral” rating in a report on Tuesday, June 18th. Barclays increased their price target on First Solar from $280.00 to $290.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Finally, Bank of America upped their price objective on First Solar from $320.00 to $343.00 and gave the company a “buy” rating in a report on Monday, September 16th. Four equities research analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $284.12.

First Solar Stock Performance

Shares of FSLR opened at $231.13 on Friday. First Solar, Inc. has a 52 week low of $129.21 and a 52 week high of $306.77. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.65 and a current ratio of 2.23. The company has a market capitalization of $24.74 billion, a PE ratio of 24.23, a PEG ratio of 0.42 and a beta of 1.44. The company’s 50 day moving average price is $227.18 and its 200 day moving average price is $218.76.

First Solar (NASDAQ:FSLR) last posted its quarterly earnings results on Tuesday, July 30th. The solar cell manufacturer reported $3.25 earnings per share for the quarter, topping analysts’ consensus estimates of $2.69 by $0.56. The business had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $939.71 million. First Solar had a net margin of 31.98% and a return on equity of 17.73%. First Solar’s revenue for the quarter was up 24.6% compared to the same quarter last year. During the same period in the prior year, the business posted $1.85 earnings per share. Research analysts expect that First Solar, Inc. will post 13.62 EPS for the current fiscal year.

First Solar Profile

First Solar, Inc, a solar technology company, provides photovoltaic (PV) solar energy solutions in the United States, France, Japan, Chile, and internationally. The company manufactures and sells PV solar modules with a thin film semiconductor technology that provides a lower-carbon alternative to conventional crystalline silicon PV solar modules.