First Solar, Inc. (NASDAQ:FSLR) released its quarterly earnings data on Thursday. The solar cell manufacturer reported $0.64 EPS for the quarter, topping the consensus estimate of $0.04 by $0.60, Bloomberg Earnings reports. The company had revenue of $623 million for the quarter, compared to the consensus estimate of $591.55 million. First Solar had a positive return on equity of 6.71% and a negative net margin of 18.14%. First Solar’s quarterly revenue was down 38.7% on a year-over-year basis. During the same period last year, the business posted $0.87 EPS. First Solar updated its FY17 guidance to $2.00-2.50 EPS.

First Solar (NASDAQ FSLR) traded down 1.39% during trading on Thursday, hitting $44.81. The company’s stock had a trading volume of 4,288,610 shares. The company has a 50-day moving average of $40.29 and a 200 day moving average of $34.58. The firm’s market cap is $4.67 billion. First Solar has a one year low of $25.56 and a one year high of $49.50.

Several analysts have issued reports on the company. Roth Capital raised First Solar from a “neutral” rating to a “buy” rating and set a $40.00 target price on the stock in a research report on Thursday, April 27th. BidaskClub raised First Solar from a “hold” rating to a “buy” rating in a research report on Wednesday, June 28th. Cowen and Company set a $40.00 target price on First Solar and gave the company a “buy” rating in a research report on Monday, July 10th. Vetr cut First Solar from a “strong-buy” rating to a “buy” rating and set a $47.53 target price on the stock. in a research report on Monday, July 17th. Finally, Axiom Securities raised First Solar from a “hold” rating to a “buy” rating and increased their target price for the company from $45.40 to $51.00 in a research report on Wednesday, July 19th. One research analyst has rated the stock with a sell rating, nineteen have issued a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company. First Solar presently has an average rating of “Hold” and an average price target of $44.42.

In related news, Director J Thomas Presby bought 4,000 shares of the company’s stock in a transaction on Thursday, May 11th. The stock was bought at an average cost of $36.89 per share, with a total value of $147,560.00. Following the completion of the acquisition, the director now owns 17,958 shares in the company, valued at approximately $662,470.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Bryan Robert Schumaker sold 2,747 shares of the stock in a transaction dated Wednesday, May 3rd. The shares were sold at an average price of $35.00, for a total transaction of $96,145.00. Following the completion of the transaction, the insider now directly owns 1,235 shares of the company’s stock, valued at $43,225. The disclosure for this sale can be found here. Company insiders own 0.40% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of FSLR. BlackRock Inc. boosted its position in shares of First Solar by 7,977.6% in the first quarter. BlackRock Inc. now owns 6,922,544 shares of the solar cell manufacturer’s stock worth $187,601,000 after buying an additional 6,836,843 shares during the period. Wellington Management Group LLP boosted its position in shares of First Solar by 28.8% in the first quarter. Wellington Management Group LLP now owns 3,038,924 shares of the solar cell manufacturer’s stock worth $82,356,000 after buying an additional 679,898 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of First Solar by 6.1% in the first quarter. Dimensional Fund Advisors LP now owns 2,756,980 shares of the solar cell manufacturer’s stock worth $74,715,000 after buying an additional 158,896 shares during the period. State Treasurer State of Michigan boosted its position in shares of First Solar by 99.1% in the second quarter. State Treasurer State of Michigan now owns 754,373 shares of the solar cell manufacturer’s stock worth $30,084,000 after buying an additional 375,500 shares during the period. Finally, DnB Asset Management AS boosted its position in shares of First Solar by 0.6% in the first quarter. DnB Asset Management AS now owns 518,218 shares of the solar cell manufacturer’s stock worth $14,044,000 after buying an additional 3,300 shares during the period. 60.35% of the stock is owned by institutional investors and hedge funds.

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About First Solar

First Solar, Inc is a provider of photovoltaic (PV) solar energy solutions. The Company designs, manufactures and sells PV solar modules with a thin-film semiconductor technology. The Company also develops, designs, constructs and sells PV solar power systems that primarily use the modules it manufactures.

Earnings History for First Solar (NASDAQ:FSLR)

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