Toroso Investments LLC Has $1.87 Million Stock Position in First Solar, Inc. (NASDAQ:FSLR)

Toroso Investments LLC increased its position in shares of First Solar, Inc. (NASDAQ:FSLR – Get Rating) by 390.5% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 14,135 shares of the solar cell manufacturer’s stock after buying an additional 11,253 shares during the quarter. Toroso Investments LLC’s holdings in First Solar were worth $1,869,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in shares of First Solar by 1.5% in the third quarter. Vanguard Group Inc. now owns 9,457,489 shares of the solar cell manufacturer’s stock worth $1,250,942,000 after purchasing an additional 136,323 shares during the last quarter. State Street Corp raised its stake in shares of First Solar by 1.9% in the first quarter. State Street Corp now owns 3,230,644 shares of the solar cell manufacturer’s stock worth $270,534,000 after purchasing an additional 60,266 shares during the last quarter. FMR LLC raised its stake in shares of First Solar by 13.3% in the second quarter. FMR LLC now owns 1,773,414 shares of the solar cell manufacturer’s stock worth $120,822,000 after purchasing an additional 208,322 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of First Solar by 8.6% in the third quarter. Dimensional Fund Advisors LP now owns 1,655,227 shares of the solar cell manufacturer’s stock worth $218,933,000 after purchasing an additional 131,174 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its holdings in shares of First Solar by 197.8% in the first quarter. Goldman Sachs Group Inc. now owns 1,336,038 shares of the solar cell manufacturer’s stock valued at $111,880,000 after acquiring an additional 887,443 shares in the last quarter. 80.97% of the stock is owned by institutional investors and hedge funds.

First Solar Stock Up 1.6 %

Shares of NASDAQ:FSLR opened at $206.56 on Friday. The stock’s 50-day moving average price is $177.17 and its 200-day moving average price is $155.63. First Solar, Inc. has a 12-month low of $59.60 and a 12-month high of $218.25. The stock has a market capitalization of $22.02 billion, a P/E ratio of -483.85 and a beta of 1.36. The company has a current ratio of 3.65, a quick ratio of 3.05 and a debt-to-equity ratio of 0.03.

First Solar (NASDAQ:FSLR – Get Rating) last announced its quarterly earnings data on Tuesday, February 28th. The solar cell manufacturer reported ($0.07) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.11. First Solar had a negative return on equity of 0.75% and a negative net margin of 1.69%. The firm had revenue of $1 billion for the quarter, compared to analysts’ expectations of $1 billion. During the same period last year, the firm earned $1.23 earnings per share. The company’s revenue for the quarter was up 10.5% compared to the same quarter last year. On average, equities analysts anticipate that First Solar, Inc. will post 7.17 earnings per share for the current year.

Analysts Set New Price Targets

FSLR has been the subject of several recent analyst reports. Citigroup upped their target price on First Solar from $75.00 to $220.00 and gave the company a “neutral” rating in a report on Friday, March 10th. Robert W. Baird upped their target price on First Solar from $180.00 to $208.00 and gave the company an “outperform” rating in a report on Wednesday, March 1st. KeyCorp increased their price objective on First Solar from $201.00 to $227.00 and gave the company an “overweight” rating in a report on Monday, March 6th. The Goldman Sachs Group increased their price objective on First Solar from $231.00 to $260.00 and gave the company a “buy” rating in a report on Wednesday, March 1st. Finally, Guggenheim increased their price objective on First Solar from $255.00 to $260.00 in a report on Wednesday, March 1st. Eight investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $201.00.

Insider Activity

In other news, CAO Byron Michael Jeffers sold 1,281 shares of the firm’s stock in a transaction dated Tuesday, March 7th. The stock was sold at an average price of $212.50, for a total transaction of $272,212.50. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, Director Richard D. Chapman sold 7,500 shares of the firm’s stock in a transaction dated Wednesday, March 8th. The stock was sold at an average price of $211.00, for a total value of $1,582,500.00. Following the sale, the director now directly owns 21,689 shares of the company’s stock, valued at $4,576,379. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Byron Michael Jeffers sold 1,281 shares of the firm’s stock in a transaction dated Tuesday, March 7th. The stock was sold at an average price of $212.50, for a total value of $272,212.50. The disclosure for this sale can be found here. Over the last three months, insiders have sold 37,909 shares of company stock valued at $7,870,618. 0.54% of the stock is currently owned by insiders.

First Solar Profile

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First Solar, Inc engages in designing, manufacturing, marketing, and the distribution of photovoltaic solar power systems and solar modules. It operates through the Modules and Systems segments. The Modules segment involves the design, manufacture, and sale of cadmium telluride solar modules, which convert sunlight into electricity.