Laurel Grove Capital Lowers stake in First Solar (FSLR)

First Solar (FSLR) : Laurel Grove Capital reduced its stake in First Solar by 19.41% during the most recent quarter end. The investment management company now holds a total of 39,650 shares of First Solar which is valued at $1,564,986 after selling 9,550 shares in First Solar , the firm said in a disclosure report filed with the SEC on Oct 17, 2016.First Solar makes up approximately 0.91% of Laurel Grove Capital’s portfolio.

Other Hedge Funds, Including , North Star Investment Management Corp. added FSLR to its portfolio by purchasing 200 company shares during the most recent quarter which is valued at $7,656.Exxonmobil Investment Management Inc Tx reduced its stake in FSLR by selling 248 shares or 1.25% in the most recent quarter. The Hedge Fund company now holds 19,602 shares of FSLR which is valued at $736,643. First Solar makes up approx 0.02% of Exxonmobil Investment Management Inc Tx’s portfolio.Bnp Paribas Arbitrage Sa boosted its stake in FSLR in the latest quarter, The investment management firm added 13,731 additional shares and now holds a total of 75,303 shares of First Solar which is valued at $2,992,541. First Solar makes up approx 0.01% of Bnp Paribas Arbitrage Sa’s portfolio.

First Solar opened for trading at $39.01 and hit $39.95 on the upside on Friday, eventually ending the session at $39.47, with a gain of 2.04% or 0.79 points. The heightened volatility saw the trading volume jump to 19,74,439 shares. Company has a market cap of $4,040 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. Piper Jaffray Initiated First Solar on Oct 10, 2016 to “Neutral”, Price Target of the shares are set at $43.First Solar was Downgraded by Goldman to ” Neutral” on Oct 7, 2016. Williams Capital Group Initiated First Solar on Sep 30, 2016 to “Buy”, Price Target of the shares are set at $50.

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 Company’s 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.

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