Profund Advisors LLC increased its stake in shares of First Solar, Inc. (NASDAQ:FSLR) by 7.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,812 shares of the solar cell manufacturer’s stock after acquiring an additional 848 shares during the quarter. Profund Advisors LLC’s holdings in First Solar were worth $798,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds also recently bought and sold shares of FSLR. OppenheimerFunds Inc. grew its position in First Solar by 254.0% during the 4th quarter. OppenheimerFunds Inc. now owns 1,012,954 shares of the solar cell manufacturer’s stock worth $68,395,000 after acquiring an additional 726,830 shares during the last quarter. Renaissance Technologies LLC grew its position in First Solar by 468.1% during the 4th quarter. Renaissance Technologies LLC now owns 656,700 shares of the solar cell manufacturer’s stock worth $44,340,000 after acquiring an additional 541,100 shares during the last quarter. State of Tennessee Treasury Department grew its position in First Solar by 711.7% during 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 acquiring an additional 219,200 shares during the last quarter. Bogle Investment Management L P DE bought a new position in First Solar during the 4th quarter worth approximately $13,233,000. Finally, Wells Fargo & Company MN grew its position in First Solar by 307.0% during the 3rd quarter. Wells Fargo & Company MN now owns 111,843 shares of the solar cell manufacturer’s stock worth $5,132,000 after acquiring an additional 165,863 shares during the last quarter. Institutional investors and hedge funds own 53.50% of the company’s stock.
Shares of First Solar, Inc. (FSLR) opened at $69.87 on Friday. The firm has a market capitalization of $7,181.59, a P/E ratio of -43.67, a PEG ratio of 4.01 and a beta of 2.08. First Solar, Inc. has a 1 year low of $25.56 and a 1 year high of $76.61. The company has a debt-to-equity ratio of 0.07, a current ratio of 5.89 and a quick ratio of 5.63.
In related news, insider Raffi Garabedian sold 11,284 shares of First Solar stock in a transaction that occurred on Monday, December 18th. The stock was sold at an average price of $70.06, for a total transaction of $790,557.04. Following the sale, the insider now directly owns 9,227 shares in the company, valued at $646,443.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Bryan Robert Schumaker sold 933 shares of First Solar stock in a transaction that occurred on Monday, March 12th. The shares were sold at an average price of $70.00, for a total value of $65,310.00. The disclosure for this sale can be found here. Insiders have sold 55,245 shares of company stock worth $3,699,010 over the last 90 days. 0.58% of the stock is currently owned by corporate insiders.
Several equities analysts recently issued reports on the company. UBS assumed coverage on First Solar in a research report on Thursday. They set a “buy” rating and a $81.00 price target on the stock. BidaskClub upgraded First Solar from a “buy” rating to a “strong-buy” rating in a research report on Friday, March 9th. Standpoint Research upgraded First Solar from a “hold” rating to an “accumulate” rating and set a $84.00 price target on the stock in a research report on Wednesday, March 7th. Deutsche Bank set a $75.00 price target on First Solar and gave the stock a “buy” rating in a research report on Friday, February 23rd. Finally, Miller Tabak lowered First Solar from a “buy” rating to a “hold” rating in a research report on Thursday, February 22nd. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. First Solar currently has a consensus rating of “Buy” and a consensus target price of $70.53.
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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