Daiwa SB Investments Ltd. lowered its position in First Solar, Inc. (NASDAQ:FSLR) by 45.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,689 shares of the solar cell manufacturer’s stock after selling 4,780 shares during the quarter. Daiwa SB Investments Ltd.’s holdings in First Solar were worth $384,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently made changes to their positions in the business. Vanguard Group Inc. raised its position in shares of First Solar by 3.9% in the second quarter. Vanguard Group Inc. now owns 6,545,727 shares of the solar cell manufacturer’s stock valued at $261,043,000 after purchasing an additional 243,787 shares during the period. Bank of New York Mellon Corp raised its position in shares of First Solar by 6.0% in the third quarter. Bank of New York Mellon Corp now owns 1,456,546 shares of the solar cell manufacturer’s stock valued at $66,825,000 after purchasing an additional 82,634 shares during the period. Key Square Capital Management LLC bought a new position in shares of First Solar in the third quarter valued at about $23,621,000. Ecofin Ltd. bought a new position in shares of First Solar in the second quarter valued at about $19,485,000. Finally, Lord Abbett & CO. LLC bought a new position in shares of First Solar in the second quarter valued at about $15,099,000. Hedge funds and other institutional investors own 50.59% of the company’s stock.
First Solar, Inc. (FSLR) traded down $1.11 on Friday, hitting $66.44. 1,225,260 shares of the stock were exchanged, compared to its average volume of 2,211,590. First Solar, Inc. has a one year low of $25.56 and a one year high of $76.61. The company has a current ratio of 6.85, a quick ratio of 6.47 and a debt-to-equity ratio of 0.06. The firm has a market cap of $6,938.53, a P/E ratio of -15.17 and a beta of 2.09.
In other news, CEO Mark R. Widmar sold 20,270 shares of the firm’s stock in a transaction that occurred on Thursday, December 7th. The shares were sold at an average price of $64.40, for a total value of $1,305,388.00. Following the sale, the chief executive officer now directly owns 100,754 shares in the company, valued at approximately $6,488,557.60. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Raffi Garabedian sold 11,284 shares of the firm’s stock in a transaction that occurred on Monday, December 18th. The shares were sold at an average price of $70.06, for a total transaction of $790,557.04. Following the completion of the sale, the insider now owns 9,227 shares in the company, valued at $646,443.62. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 46,858 shares of company stock worth $3,134,015. 0.58% of the stock is currently owned by corporate insiders.
A number of equities analysts recently commented on the stock. Vetr lowered shares of First Solar from a “hold” rating to a “sell” rating and set a $65.52 price target on the stock. in a research report on Monday. ValuEngine raised shares of First Solar from a “hold” rating to a “buy” rating in a research report on Friday. BidaskClub lowered shares of First Solar from a “buy” rating to a “hold” rating in a research report on Friday. JMP Securities raised their price target on shares of First Solar to $84.00 and gave the stock an “outperform” rating in a research report on Thursday. Finally, JPMorgan Chase & Co. set a $69.00 price target on shares of First Solar and gave the stock a “hold” rating in a research report on Monday, December 18th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and eleven have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $65.40.
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First Solar Company Profile
First Solar, Inc is a provider of photovoltaic (PV) solar energy solutions. The Company designs, manufactures and sells PV solar modules with a thin-film semiconductor technology. The Company also develops, designs, constructs and sells PV solar power systems that primarily use the modules it manufactures.
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