The Manufacturers Life Insurance Company Buys 4,149 Shares of First Solar, Inc. (NASDAQ:FSLR)

The Manufacturers Life Insurance Company lifted its stake in shares of First Solar, Inc. (NASDAQ:FSLRFree Report) by 4.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 89,452 shares of the solar cell manufacturer’s stock after acquiring an additional 4,149 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 0.08% of First Solar worth $15,413,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. KBC Group NV lifted its position in shares of First Solar by 5.9% in the 4th quarter. KBC Group NV now owns 84,788 shares of the solar cell manufacturer’s stock worth $14,608,000 after purchasing an additional 4,694 shares during the period. Campbell & CO Investment Adviser LLC acquired a new position in First Solar in the fourth quarter valued at $503,000. APG Asset Management US Inc. bought a new stake in First Solar during the fourth quarter valued at $6,942,000. California State Teachers Retirement System grew its holdings in First Solar by 1.9% during the 4th quarter. California State Teachers Retirement System now owns 165,055 shares of the solar cell manufacturer’s stock worth $28,436,000 after acquiring an additional 3,006 shares during the period. Finally, Vectors Research Management LLC raised its position in shares of First Solar by 9.9% in the 4th quarter. Vectors Research Management LLC now owns 19,720 shares of the solar cell manufacturer’s stock worth $3,397,000 after acquiring an additional 1,782 shares in the last quarter. 92.08% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other First Solar news, Director Richard D. Chapman sold 3,165 shares of the firm’s stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $190.48, for a total value of $602,869.20. Following the completion of the sale, the director now directly owns 1,045 shares of the company’s stock, valued at $199,051.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Michael T. Sweeney sold 4,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $273.50, for a total value of $1,094,000.00. Following the completion of the transaction, the director now directly owns 16,692 shares of the company’s stock, valued at approximately $4,565,262. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Richard D. Chapman sold 3,165 shares of the firm’s stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $190.48, for a total value of $602,869.20. Following the completion of the transaction, the director now directly owns 1,045 shares of the company’s stock, valued at $199,051.60. The disclosure for this sale can be found here. In the last quarter, insiders have sold 56,519 shares of company stock valued at $13,324,756. 0.58% of the stock is owned by company insiders.

First Solar Stock Down 2.2 %

Shares of NASDAQ:FSLR opened at $267.34 on Monday. First Solar, Inc. has a 1 year low of $129.21 and a 1 year high of $286.60. The company has a market capitalization of $28.62 billion, a PE ratio of 28.02, a price-to-earnings-growth ratio of 0.35 and a beta of 1.48. The business has a fifty day moving average price of $205.73 and a two-hundred day moving average price of $173.38. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.41 and a quick ratio of 1.86.

First Solar (NASDAQ:FSLRGet Free Report) last posted its quarterly earnings results on Wednesday, May 1st. The solar cell manufacturer reported $2.20 earnings per share for the quarter, beating the consensus estimate of $1.90 by $0.30. The company had revenue of $794.10 million during the quarter, compared to analyst estimates of $718.19 million. First Solar had a net margin of 28.75% and a return on equity of 16.24%. The firm’s revenue for the quarter was up 44.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.40 earnings per share. Analysts forecast that First Solar, Inc. will post 13.55 earnings per share for the current year.

Analyst Ratings Changes

FSLR has been the subject of several recent analyst reports. Bank of America raised their target price on First Solar from $187.00 to $194.00 and gave the stock a “buy” rating in a research note on Wednesday, April 10th. DZ Bank lowered shares of First Solar from a “buy” rating to a “hold” rating and set a $270.00 price objective for the company. in a research note on Wednesday, May 29th. Mizuho reissued a “neutral” rating and set a $274.00 target price (up from $209.00) on shares of First Solar in a research note on Thursday, May 30th. Oppenheimer lifted their price target on shares of First Solar from $269.00 to $271.00 and gave the company an “outperform” rating in a research note on Thursday, May 2nd. Finally, Evercore ISI raised shares of First Solar from an “in-line” rating to an “outperform” rating and set a $227.00 price objective on the stock in a research report on Tuesday, April 23rd. Four research analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $255.84.

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About First Solar

(Free Report)

First Solar, Inc, a solar technology company, provides photovoltaic (PV) solar energy solutions in the United States, France, Japan, Chile, and internationally. The company manufactures and sells PV solar modules with a thin film semiconductor technology that provides a lower-carbon alternative to conventional crystalline silicon PV solar modules.

Further Reading

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

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