First Solar, Inc. (NASDAQ:FSLR) Shares Purchased by Sumitomo Mitsui Trust Holdings Inc.

Sumitomo Mitsui Trust Holdings Inc. boosted its position in shares of First Solar, Inc. (NASDAQ:FSLRFree Report) by 6.3% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 259,177 shares of the solar cell manufacturer’s stock after acquiring an additional 15,430 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned about 0.24% of First Solar worth $43,749,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Harbor Investment Advisory LLC grew its stake in shares of First Solar by 36.0% during the first quarter. Harbor Investment Advisory LLC now owns 272 shares of the solar cell manufacturer’s stock worth $46,000 after purchasing an additional 72 shares in the last quarter. Atticus Wealth Management LLC boosted its position in shares of First Solar by 15.6% during the 1st quarter. Atticus Wealth Management LLC now owns 534 shares of the solar cell manufacturer’s stock worth $90,000 after acquiring an additional 72 shares in the last quarter. AtonRa Partners increased its holdings in shares of First Solar by 2.2% in the 4th quarter. AtonRa Partners now owns 3,600 shares of the solar cell manufacturer’s stock valued at $620,000 after acquiring an additional 79 shares during the last quarter. Benjamin F. Edwards & Company Inc. raised its position in shares of First Solar by 14.2% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 691 shares of the solar cell manufacturer’s stock worth $119,000 after acquiring an additional 86 shares in the last quarter. Finally, Czech National Bank lifted its stake in First Solar by 0.5% during the first quarter. Czech National Bank now owns 18,799 shares of the solar cell manufacturer’s stock worth $3,173,000 after purchasing an additional 86 shares during the last quarter. 92.08% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have commented on FSLR shares. Roth Mkm reiterated a “buy” rating and issued a $320.00 price target (up from $230.00) on shares of First Solar in a research note on Friday, May 31st. Morgan Stanley lifted their price target on shares of First Solar from $248.00 to $331.00 and gave the stock an “overweight” rating in a research note on Tuesday, June 4th. Robert W. Baird decreased their price objective on shares of First Solar from $344.00 to $307.00 and set an “outperform” rating for the company in a research note on Tuesday, July 2nd. DZ Bank cut First Solar from a “buy” rating to a “hold” rating and set a $270.00 target price on the stock. in a research report on Wednesday, May 29th. Finally, Janney Montgomery Scott cut First Solar from a “buy” rating to a “neutral” rating in a research report on Tuesday, June 18th. Five analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $267.12.

Check Out Our Latest Report on First Solar

Insider Activity

In other First Solar news, Director R Craig Kennedy sold 2,000 shares of the company’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $196.73, for a total transaction of $393,460.00. Following the transaction, the director now directly owns 13,908 shares in the company, valued at $2,736,120.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, Director Richard D. Chapman sold 3,165 shares of First Solar stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $190.48, for a total transaction of $602,869.20. Following the completion of the transaction, the director now owns 1,045 shares of the company’s stock, valued at approximately $199,051.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director R Craig Kennedy sold 2,000 shares of the stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $196.73, for a total transaction of $393,460.00. Following the completion of the sale, the director now directly owns 13,908 shares in the company, valued at $2,736,120.84. The disclosure for this sale can be found here. Insiders sold 51,153 shares of company stock worth $12,540,428 in the last 90 days. 0.58% of the stock is currently owned by corporate insiders.

First Solar Stock Performance

NASDAQ FSLR opened at $222.12 on Friday. The company has a current ratio of 2.41, a quick ratio of 1.86 and a debt-to-equity ratio of 0.06. The business’s 50 day moving average is $237.29 and its two-hundred day moving average is $187.40. The stock has a market capitalization of $23.78 billion, a price-to-earnings ratio of 23.28, a PEG ratio of 0.30 and a beta of 1.44. First Solar, Inc. has a 12-month low of $129.21 and a 12-month high of $306.77.

First Solar (NASDAQ:FSLRGet Free Report) last announced its quarterly earnings data on Wednesday, May 1st. The solar cell manufacturer reported $2.20 earnings per share for the quarter, topping analysts’ consensus estimates of $1.90 by $0.30. First Solar had a return on equity of 16.24% and a net margin of 28.75%. The firm had revenue of $794.10 million for the quarter, compared to analyst estimates of $718.19 million. During the same quarter in the prior year, the company posted $0.40 earnings per share. First Solar’s quarterly revenue was up 44.8% on a year-over-year basis. Research analysts expect that First Solar, Inc. will post 13.58 EPS for the current year.

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.

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

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