First Solar, Inc. (NASDAQ:FSLR) Position Increased by IFM Investors Pty Ltd

IFM Investors Pty Ltd raised its stake in First Solar, Inc. (NASDAQ:FSLR) by 4.0% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 22,496 shares of the solar cell manufacturer’s stock after acquiring an additional 857 shares during the period. IFM Investors Pty Ltd’s holdings in First Solar were worth $5,611,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Electron Capital Partners LLC grew its holdings in shares of First Solar by 81,947.0% in the 2nd quarter. Electron Capital Partners LLC now owns 7,669,757 shares of the solar cell manufacturer’s stock worth $1,729,223,000 after acquiring an additional 7,660,409 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its stake in First Solar by 11.1% in the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 2,801,916 shares of the solar cell manufacturer’s stock worth $472,963,000 after purchasing an additional 279,719 shares in the last quarter. Anomaly Capital Management LP acquired a new stake in First Solar during the 2nd quarter worth about $53,752,000. International Assets Investment Management LLC lifted its stake in First Solar by 24,844.0% during the third quarter. International Assets Investment Management LLC now owns 217,512 shares of the solar cell manufacturer’s stock valued at $542,560,000 after buying an additional 216,640 shares in the last quarter. Finally, Canada Pension Plan Investment Board boosted its holdings in shares of First Solar by 2,429.1% in the second quarter. Canada Pension Plan Investment Board now owns 174,530 shares of the solar cell manufacturer’s stock worth $39,350,000 after buying an additional 167,629 shares during the period. Institutional investors and hedge funds own 92.08% of the company’s stock.

First Solar Trading Up 1.2 %

Shares of First Solar stock opened at $198.47 on Friday. First Solar, Inc. has a 52-week low of $129.21 and a 52-week high of $306.77. The firm has a market capitalization of $21.24 billion, a PE ratio of 20.80, a price-to-earnings-growth ratio of 0.38 and a beta of 1.44. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.23 and a quick ratio of 1.65. The company’s fifty day moving average price is $224.06 and its two-hundred day moving average price is $223.31.

First Solar (NASDAQ:FSLR) last posted its earnings results on Tuesday, July 30th. The solar cell manufacturer reported $3.25 earnings per share for the quarter, beating analysts’ consensus estimates of $2.69 by $0.56. The business had revenue of $1.01 billion for the quarter, compared to analysts’ expectations of $939.71 million. First Solar had a net margin of 31.98% and a return on equity of 17.73%. The firm’s revenue for the quarter was up 24.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.85 earnings per share. On average, analysts expect that First Solar, Inc. will post 13.53 EPS for the current year.

Insider Transactions at First Solar

In related news, CAO Byron Michael Jeffers sold 1,766 shares of the business’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $216.50, for a total value of $382,339.00. Following the sale, the chief accounting officer now owns 500 shares of the company’s stock, valued at $108,250. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CAO Byron Michael Jeffers sold 1,766 shares of First Solar stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $216.50, for a total transaction of $382,339.00. Following the completion of the transaction, the chief accounting officer now directly owns 500 shares of the company’s stock, valued at $108,250. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Patrick James Buehler sold 8,619 shares of the business’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $222.00, for a total transaction of $1,913,418.00. Following the completion of the transaction, the insider now owns 3,468 shares in the company, valued at approximately $769,896. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 10,885 shares of company stock valued at $2,405,757. Corporate insiders own 0.58% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on FSLR shares. Clarkson Capital began coverage on shares of First Solar in a report on Wednesday, August 14th. They set a “buy” rating and a $270.00 price target on the stock. DZ Bank upgraded First Solar from a “hold” rating to a “buy” rating and set a $280.00 target price for the company in a report on Thursday, August 1st. Hsbc Global Res upgraded First Solar to a “strong-buy” rating in a report on Wednesday, October 9th. Oppenheimer upped their price target on First Solar from $325.00 to $326.00 and gave the company an “outperform” rating in a research report on Wednesday, July 31st. Finally, Piper Sandler lifted their target price on First Solar from $219.00 to $250.00 and gave the company an “overweight” rating in a research note on Monday, July 22nd. Three research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $288.46.

About First Solar

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.