Employees Provident Fund Board purchased a new stake in First Solar, Inc. (NASDAQ:FSLR – Free Report) in the fourth quarter, Holdings Channel reports. The firm purchased 97,733 shares of the solar cell manufacturer’s stock, valued at approximately $25,531,000.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Aventura Private Wealth LLC purchased a new position in First Solar during the fourth quarter worth approximately $25,000. Commonwealth Retirement Investments LLC acquired a new position in First Solar during the fourth quarter worth $26,000. Reflection Asset Management purchased a new stake in First Solar in the 4th quarter valued at $26,000. Strategic Wealth Investment Group LLC purchased a new stake in First Solar in the 2nd quarter valued at $26,000. Finally, Larson Financial Group LLC increased its stake in shares of First Solar by 117.0% in the 4th quarter. Larson Financial Group LLC now owns 102 shares of the solar cell manufacturer’s stock worth $27,000 after acquiring an additional 55 shares during the last quarter. Institutional investors and hedge funds own 92.08% of the company’s stock.
First Solar Price Performance
Shares of NASDAQ:FSLR opened at $257.70 on Friday. The company has a market capitalization of $27.69 billion, a price-to-earnings ratio of 16.65, a PEG ratio of 0.57 and a beta of 1.71. First Solar, Inc. has a 12-month low of $139.26 and a 12-month high of $320.95. The business has a 50-day moving average price of $238.53 and a 200 day moving average price of $233.45. The company has a current ratio of 2.56, a quick ratio of 2.15 and a debt-to-equity ratio of 0.02.
Wall Street Analyst Weigh In
Several research analysts have recently commented on the company. Mizuho lifted their price target on First Solar from $243.00 to $300.00 and gave the stock an “outperform” rating in a report on Friday, June 12th. HSBC upped their price objective on shares of First Solar from $211.00 to $231.00 and gave the company a “hold” rating in a report on Tuesday, May 5th. Glj Research cut shares of First Solar from a “buy” rating to a “hold” rating and cut their price objective for the stock from $314.43 to $207.82 in a research report on Wednesday, March 4th. Guggenheim boosted their target price on shares of First Solar from $269.00 to $279.00 and gave the company a “buy” rating in a report on Thursday, May 21st. Finally, Susquehanna dropped their price target on shares of First Solar from $280.00 to $250.00 and set a “positive” rating for the company in a research note on Thursday, April 9th. One research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, twelve have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $249.78.
Read Our Latest Research Report on FSLR
Insiders Place Their Bets
In other news, CEO Mark R. Widmar sold 4,815 shares of the company’s stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $247.43, for a total value of $1,191,375.45. Following the transaction, the chief executive officer directly owned 89,033 shares in the company, valued at approximately $22,029,435.19. This represents a 5.13% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Caroline Stockdale sold 10,628 shares of the stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $275.60, for a total transaction of $2,929,076.80. Following the transaction, the insider directly owned 23,792 shares of the company’s stock, valued at $6,557,075.20. The trade was a 30.88% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 32,466 shares of company stock worth $8,014,105. Insiders own 0.39% of the company’s stock.
First Solar Profile
First Solar, Inc (NASDAQ: FSLR) is a United States–based solar technology company best known for designing and manufacturing thin‑film photovoltaic (PV) modules that use cadmium telluride (CdTe) semiconductor technology. The company supplies PV modules and delivers integrated solar power solutions for utility‑scale projects, positioning itself as a provider of both components and complete solar energy systems rather than solely a parts supplier. First Solar was founded in 1999 and is headquartered in Tempe, Arizona.
Beyond module manufacturing, First Solar offers a range of project services including development support, engineering, procurement and construction (EPC) services, and operations and maintenance (O&M) for large-scale solar installations.
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