3,750 Shares in First Solar, Inc. (NASDAQ:FSLR) Purchased by Marathon Capital Management

Marathon Capital Management purchased a new position in First Solar, Inc. (NASDAQ:FSLR) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 3,750 shares of the solar cell manufacturer’s stock, valued at approximately $246,000.

Other large investors have also bought and sold shares of the company. Swiss National Bank raised its position in First Solar by 3.1% in the first quarter. Swiss National Bank now owns 143,300 shares of the solar cell manufacturer’s stock worth $7,572,000 after purchasing an additional 4,300 shares in the last quarter. Texas Permanent School Fund raised its position in First Solar by 3.8% in the first quarter. Texas Permanent School Fund now owns 51,280 shares of the solar cell manufacturer’s stock worth $2,710,000 after purchasing an additional 1,895 shares in the last quarter. New York State Common Retirement Fund raised its position in First Solar by 35.4% in the first quarter. New York State Common Retirement Fund now owns 298,294 shares of the solar cell manufacturer’s stock worth $15,762,000 after purchasing an additional 77,976 shares in the last quarter. Louisiana State Employees Retirement System raised its position in First Solar by 1.0% in the first quarter. Louisiana State Employees Retirement System now owns 20,200 shares of the solar cell manufacturer’s stock worth $1,067,000 after purchasing an additional 200 shares in the last quarter. Finally, Hanson & Doremus Investment Management raised its position in First Solar by 5.3% in the first quarter. Hanson & Doremus Investment Management now owns 19,699 shares of the solar cell manufacturer’s stock worth $1,041,000 after purchasing an additional 996 shares in the last quarter. 61.53% of the stock is owned by hedge funds and other institutional investors.

In other news, insider Georges Antoun sold 8,476 shares of the stock in a transaction that occurred on Friday, June 28th. The shares were sold at an average price of $65.51, for a total transaction of $555,262.76. Following the sale, the insider now directly owns 86,870 shares of the company’s stock, valued at $5,690,853.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Christopher Bueter sold 27,490 shares of the stock in a transaction that occurred on Monday, June 17th. The shares were sold at an average price of $61.00, for a total transaction of $1,676,890.00. Following the sale, the executive vice president now directly owns 21,022 shares in the company, valued at $1,282,342. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 52,918 shares of company stock valued at $3,279,617. Company insiders own 0.72% of the company’s stock.

Shares of NASDAQ FSLR traded down $6.07 during mid-day trading on Monday, hitting $60.56. 590,778 shares of the stock were exchanged, compared to its average volume of 993,835. The firm has a market cap of $6.62 billion, a P/E ratio of 44.53, a P/E/G ratio of 1.20 and a beta of 1.30. The firm’s fifty day moving average price is $65.10. The company has a debt-to-equity ratio of 0.11, a quick ratio of 3.83 and a current ratio of 4.38. First Solar, Inc. has a twelve month low of $36.51 and a twelve month high of $69.24.

First Solar (NASDAQ:FSLR) last posted its quarterly earnings data on Thursday, August 1st. The solar cell manufacturer reported ($0.18) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.02 by ($0.20). The firm had revenue of $585.00 million for the quarter, compared to analyst estimates of $656.80 million. First Solar had a return on equity of 0.46% and a net margin of 0.95%. The business’s quarterly revenue was up 89.3% on a year-over-year basis. During the same period in the previous year, the business posted ($0.46) EPS. Analysts forecast that First Solar, Inc. will post 2.39 EPS for the current year.

Several research analysts recently issued reports on the stock. JPMorgan Chase & Co. increased their price target on shares of First Solar from $74.00 to $82.00 and gave the stock an “overweight” rating in a research report on Friday. Roth Capital set a $75.00 price target on shares of First Solar and gave the stock a “buy” rating in a research report on Thursday, June 13th. Goldman Sachs Group set a $75.00 price target on shares of First Solar and gave the stock a “buy” rating in a research report on Wednesday, April 10th. Argus increased their price target on shares of First Solar to $66.00 and gave the stock an “average” rating in a research report on Friday, May 3rd. Finally, UBS Group raised their price objective on shares of First Solar to $80.00 and gave the stock a “buy” rating in a report on Friday. One research analyst has rated the stock with a sell rating, four have issued a hold rating and eleven have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $70.11.

First Solar Profile

First Solar, Inc provides photovoltaic (PV) solar energy solutions in the United States and internationally. It operates in two segments, Modules and Systems. The Components segment designs, manufactures, and sells cadmium telluride solar modules that convert sunlight into electricity. This segment offers its products to integrators and operators of PV solar power systems.

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Institutional Ownership by Quarter for First Solar (NASDAQ:FSLR)

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