Principal Financial Group Inc. Increases Stock Holdings in First Solar, Inc. (NASDAQ:FSLR)

Principal Financial Group Inc. lifted its position in First Solar, Inc. (NASDAQ:FSLR) by 17.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 349,322 shares of the solar cell manufacturer’s stock after buying an additional 51,776 shares during the quarter. Principal Financial Group Inc. owned approximately 0.33% of First Solar worth $33,346,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Penserra Capital Management LLC raised its stake in First Solar by 141.3% in the second quarter. Penserra Capital Management LLC now owns 514 shares of the solar cell manufacturer’s stock valued at $45,000 after purchasing an additional 301 shares in the last quarter. Advisory Services Network LLC purchased a new position in shares of First Solar during the second quarter worth approximately $46,000. Fifth Third Bancorp raised its stake in shares of First Solar by 87.0% during the third quarter. Fifth Third Bancorp now owns 533 shares of the solar cell manufacturer’s stock worth $51,000 after acquiring an additional 248 shares in the last quarter. Picton Mahoney Asset Management purchased a new position in shares of First Solar during the second quarter worth approximately $81,000. Finally, Creative Financial Designs Inc. ADV raised its stake in shares of First Solar by 29.0% during the third quarter. Creative Financial Designs Inc. ADV now owns 890 shares of the solar cell manufacturer’s stock worth $85,000 after acquiring an additional 200 shares in the last quarter. 72.57% of the stock is currently owned by hedge funds and other institutional investors.

NASDAQ:FSLR opened at $83.02 on Friday. The stock’s fifty day moving average is $96.72 and its 200 day moving average is $96.76. First Solar, Inc. has a fifty-two week low of $67.71 and a fifty-two week high of $123.13. The firm has a market capitalization of $8.83 billion, a PE ratio of 19.63, a PEG ratio of 3.67 and a beta of 1.38. The company has a debt-to-equity ratio of 0.04, a quick ratio of 3.35 and a current ratio of 4.26.

First Solar (NASDAQ:FSLR) last announced its quarterly earnings data on Thursday, November 4th. The solar cell manufacturer reported $0.42 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.60 by ($0.18). The business had revenue of $583.50 million during the quarter, compared to the consensus estimate of $688.10 million. First Solar had a net margin of 17.26% and a return on equity of 7.94%. The business’s revenue was down 37.1% compared to the same quarter last year. During the same period last year, the company earned $1.45 EPS. Equities analysts forecast that First Solar, Inc. will post 4.23 EPS for the current year.

In related news, Director R Craig Kennedy sold 600 shares of the firm’s stock in a transaction dated Wednesday, December 15th. The stock was sold at an average price of $95.34, for a total transaction of $57,204.00. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CTO Markus Gloeckler sold 603 shares of the stock in a transaction dated Monday, November 22nd. The shares were sold at an average price of $112.82, for a total value of $68,030.46. The disclosure for this sale can be found here. Insiders have sold a total of 3,523 shares of company stock worth $376,014 in the last three months. Corporate insiders own 0.55% of the company’s stock.

FSLR has been the topic of several recent analyst reports. Robert W. Baird restated a “buy” rating and issued a $125.00 target price on shares of First Solar in a report on Thursday, December 30th. Raymond James upgraded shares of First Solar from an “underperform” rating to a “market perform” rating in a report on Tuesday, January 4th. Guggenheim lowered First Solar from a “buy” rating to a “neutral” rating and set a $103.00 price objective for the company. in a research report on Wednesday, October 20th. Citigroup lowered their price objective on First Solar from $116.00 to $100.00 and set a “neutral” rating for the company in a research report on Tuesday, December 21st. Finally, Morgan Stanley raised their price objective on First Solar from $61.00 to $63.00 and gave the company an “underweight” rating in a research report on Monday, December 6th. Two investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $108.10.

About First Solar

First Solar, Inc engages in designing, manufacturing, marketing, and distribution of photovoltaic solar power systems and solar modules. It operates through the Modules and Systems segments. The Modules segment involves in the design, manufacture, and sale of cadmium telluride solar modules, which convert sunlight into electricity.

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

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