Russell Investments Group Ltd. Has $13.09 Million Position in First Solar, Inc. (NASDAQ:FSLR)

Russell Investments Group Ltd. raised its holdings in shares of First Solar, Inc. (NASDAQ:FSLR) by 23.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 75,805 shares of the solar cell manufacturer’s stock after purchasing an additional 14,264 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.07% of First Solar worth $13,088,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in shares of First Solar by 2.4% during the 3rd quarter. Vanguard Group Inc. now owns 12,040,031 shares of the solar cell manufacturer’s stock worth $1,945,549,000 after buying an additional 279,424 shares during the last quarter. Wellington Management Group LLP lifted its position in First Solar by 10.2% during the third quarter. Wellington Management Group LLP now owns 2,283,705 shares of the solar cell manufacturer’s stock worth $369,024,000 after acquiring an additional 211,755 shares during the last quarter. Schroder Investment Management Group boosted its holdings in shares of First Solar by 9.4% during the third quarter. Schroder Investment Management Group now owns 2,102,959 shares of the solar cell manufacturer’s stock worth $339,817,000 after acquiring an additional 181,034 shares during the period. Clean Energy Transition LLP grew its position in shares of First Solar by 948.8% in the third quarter. Clean Energy Transition LLP now owns 1,186,646 shares of the solar cell manufacturer’s stock valued at $191,750,000 after purchasing an additional 1,073,500 shares during the last quarter. Finally, Northern Trust Corp lifted its holdings in First Solar by 8.0% during the 3rd quarter. Northern Trust Corp now owns 1,003,771 shares of the solar cell manufacturer’s stock worth $162,199,000 after purchasing an additional 74,431 shares during the last quarter. 92.08% of the stock is owned by institutional investors.

First Solar Stock Performance

FSLR opened at $191.55 on Friday. The company has a current ratio of 2.41, a quick ratio of 2.92 and a debt-to-equity ratio of 0.06. The company’s fifty day moving average price is $166.57 and its two-hundred day moving average price is $158.28. The company has a market cap of $20.50 billion, a price-to-earnings ratio of 20.08, a PEG ratio of 0.31 and a beta of 1.37. First Solar, Inc. has a 1-year low of $129.21 and a 1-year high of $232.00.

First Solar (NASDAQ:FSLR) last posted its quarterly earnings data on Wednesday, May 1st. The solar cell manufacturer reported $2.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.90 by $0.30. The firm had revenue of $794.10 million for the quarter, compared to the consensus estimate of $718.19 million. First Solar had a net margin of 28.75% and a return on equity of 16.24%. The business’s revenue for the quarter was up 44.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.40 EPS. On average, analysts expect that First Solar, Inc. will post 13.55 EPS for the current fiscal year.

Insider Activity

In other First Solar news, Director R Craig Kennedy sold 1,500 shares of the company’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $157.76, for a total transaction of $236,640.00. Following the sale, the director now directly owns 15,641 shares of the company’s stock, valued at $2,467,524.16. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, insider Georges Antoun sold 16,667 shares of the business’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $155.55, for a total transaction of $2,592,551.85. Following the completion of the transaction, the insider now directly owns 42,041 shares in the company, valued at $6,539,477.55. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director R Craig Kennedy sold 1,500 shares of the firm’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $157.76, for a total value of $236,640.00. Following the completion of the sale, the director now directly owns 15,641 shares in the company, valued at approximately $2,467,524.16. The disclosure for this sale can be found here. Insiders sold a total of 26,620 shares of company stock valued at $4,269,540 in the last ninety days. 0.58% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on FSLR shares. Evercore ISI raised shares of First Solar from an “in-line” rating to an “outperform” rating and set a $227.00 price target on the stock in a research report on Tuesday, April 23rd. Jefferies Financial Group boosted their price target on First Solar from $209.50 to $211.00 and gave the company a “buy” rating in a research note on Thursday. Mizuho raised their price objective on First Solar from $196.00 to $209.00 and gave the stock a “buy” rating in a research note on Thursday. Bank of America increased their price objective on shares of First Solar from $187.00 to $194.00 and gave the stock a “buy” rating in a research note on Wednesday, April 10th. Finally, Morgan Stanley boosted their target price on shares of First Solar from $245.00 to $248.00 and gave the stock an “overweight” rating in a research note on Thursday. Three research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $238.16.

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.