Two Sigma Investments LP raised its position in First Solar, Inc. (NASDAQ:FSLR) by 872.5% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 122,828 shares of the solar cell manufacturer’s stock after acquiring an additional 138,728 shares during the period. Two Sigma Investments LP owned about 0.12% of First Solar worth $8,293,000 as of its most recent SEC filing.
A number of other institutional investors have also recently bought and sold shares of FSLR. OppenheimerFunds Inc. raised its holdings in First Solar by 254.0% in the 4th quarter. OppenheimerFunds Inc. now owns 1,012,954 shares of the solar cell manufacturer’s stock valued at $68,395,000 after acquiring an additional 726,830 shares in the last quarter. Renaissance Technologies LLC raised its holdings in First Solar by 468.1% in the 4th quarter. Renaissance Technologies LLC now owns 656,700 shares of the solar cell manufacturer’s stock valued at $44,340,000 after acquiring an additional 541,100 shares in the last quarter. State of Tennessee Treasury Department raised its holdings in shares of First Solar by 711.7% in the 4th quarter. State of Tennessee Treasury Department now owns 250,000 shares of the solar cell manufacturer’s stock worth $16,880,000 after buying an additional 219,200 shares in the last quarter. Bogle Investment Management L P DE acquired a new position in shares of First Solar in the 4th quarter worth approximately $13,233,000. Finally, Wells Fargo & Company MN raised its holdings in shares of First Solar by 307.0% in the 3rd quarter. Wells Fargo & Company MN now owns 111,843 shares of the solar cell manufacturer’s stock worth $5,132,000 after buying an additional 165,863 shares in the last quarter. 53.35% of the stock is owned by hedge funds and other institutional investors.
A number of brokerages have recently issued reports on FSLR. Vetr cut First Solar from a “sell” rating to a “strong sell” rating and set a $65.52 target price for the company. in a report on Thursday, January 11th. Guggenheim reissued a “neutral” rating on shares of First Solar in a report on Thursday, January 18th. They noted that the move was a valuation call. Zacks Investment Research raised First Solar from a “hold” rating to a “strong-buy” rating and set a $81.00 target price for the company in a report on Tuesday, December 12th. BidaskClub raised First Solar from a “buy” rating to a “strong-buy” rating in a report on Tuesday, December 12th. Finally, Robert W. Baird raised First Solar from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $69.00 to $82.00 in a report on Monday, December 11th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. First Solar presently has an average rating of “Buy” and a consensus target price of $70.53.
Shares of FSLR stock opened at $73.00 on Wednesday. The company has a market capitalization of $7,444.87, a P/E ratio of -45.63, a P/E/G ratio of 4.16 and a beta of 2.08. First Solar, Inc. has a 12-month low of $25.56 and a 12-month high of $76.61. The company has a current ratio of 5.89, a quick ratio of 5.63 and a debt-to-equity ratio of 0.07.
First Solar (NASDAQ:FSLR) last released its quarterly earnings results on Thursday, February 22nd. The solar cell manufacturer reported ($0.25) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.31) by $0.06. The business had revenue of $339.00 million for the quarter, compared to analyst estimates of $459.93 million. First Solar had a positive return on equity of 5.17% and a negative net margin of 5.63%. First Solar’s revenue for the quarter was down 29.4% on a year-over-year basis. During the same period in the prior year, the company earned $1.24 EPS. analysts anticipate that First Solar, Inc. will post 1.67 earnings per share for the current year.
In related news, COO Philip Dejong sold 15,304 shares of the stock in a transaction that occurred on Thursday, January 4th. The stock was sold at an average price of $67.83, for a total transaction of $1,038,070.32. Following the sale, the chief operating officer now directly owns 10,424 shares in the company, valued at approximately $707,059.92. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Paul J. Kaleta sold 1,605 shares of the stock in a transaction that occurred on Tuesday, March 13th. The stock was sold at an average price of $70.10, for a total value of $112,510.50. Following the sale, the executive vice president now owns 5,814 shares in the company, valued at $407,561.40. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 43,961 shares of company stock worth $2,908,453. 0.58% of the stock is owned by corporate insiders.
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About First Solar
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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