First Solar, Inc. (NASDAQ:FSLR) Shares Bought by Senator Investment Group LP

Senator Investment Group LP grew its holdings in shares of First Solar, Inc. (NASDAQ:FSLR) by 18.7% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 126,963 shares of the solar cell manufacturer’s stock after acquiring an additional 20,000 shares during the period. First Solar comprises about 1.4% of Senator Investment Group LP’s investment portfolio, making the stock its 27th biggest holding. Senator Investment Group LP owned approximately 0.12% of First Solar worth $28,625,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Oregon Public Employees Retirement Fund boosted its stake in First Solar by 0.5% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 9,172 shares of the solar cell manufacturer’s stock valued at $2,068,000 after acquiring an additional 49 shares during the last quarter. Cambridge Trust Co. lifted its position in shares of First Solar by 1.6% during the first quarter. Cambridge Trust Co. now owns 3,232 shares of the solar cell manufacturer’s stock worth $546,000 after purchasing an additional 50 shares during the last quarter. Great Diamond Partners LLC increased its holdings in First Solar by 3.8% in the first quarter. Great Diamond Partners LLC now owns 1,463 shares of the solar cell manufacturer’s stock valued at $247,000 after buying an additional 53 shares during the last quarter. Xponance Inc. lifted its holdings in First Solar by 0.4% during the 2nd quarter. Xponance Inc. now owns 15,346 shares of the solar cell manufacturer’s stock worth $3,460,000 after buying an additional 56 shares during the last quarter. Finally, Massmutual Trust Co. FSB ADV raised its position in shares of First Solar by 24.9% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 311 shares of the solar cell manufacturer’s stock valued at $70,000 after acquiring an additional 62 shares in the last quarter. 92.08% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at First Solar

In related news, CAO Byron Michael Jeffers sold 1,766 shares of the firm’s stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $216.50, for a total value of $382,339.00. Following the transaction, the chief accounting officer now directly owns 500 shares in the company, valued at approximately $108,250. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Patrick James Buehler sold 8,619 shares of the stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $222.00, for a total value of $1,913,418.00. Following the completion of the sale, the insider now directly owns 3,468 shares of the company’s stock, valued at $769,896. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Byron Michael Jeffers sold 1,766 shares of the stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $216.50, for a total transaction of $382,339.00. Following the completion of the sale, the chief accounting officer now directly owns 500 shares of the company’s stock, valued at $108,250. The disclosure for this sale can be found here. Insiders have sold a total of 10,885 shares of company stock worth $2,405,757 over the last 90 days. Insiders own 0.58% of the company’s stock.

Wall Street Analyst Weigh In

FSLR has been the topic of a number of recent research reports. Royal Bank of Canada restated an “outperform” rating and issued a $315.00 price target on shares of First Solar in a research report on Wednesday, July 31st. Morgan Stanley boosted their target price on shares of First Solar from $248.00 to $331.00 and gave the company an “overweight” rating in a research note on Tuesday, June 4th. DZ Bank raised First Solar from a “hold” rating to a “buy” rating and set a $280.00 price objective for the company in a report on Thursday, August 1st. Bank of America boosted their price target on First Solar from $320.00 to $343.00 and gave the stock a “buy” rating in a research report on Monday, September 16th. Finally, Clarkson Capital initiated coverage on shares of First Solar in a research note on Wednesday, August 14th. They set a “buy” rating and a $270.00 price objective on the stock. Five analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $284.12.

First Solar Stock Performance

Shares of FSLR opened at $255.75 on Monday. The company has a market capitalization of $27.38 billion, a PE ratio of 26.81, a PEG ratio of 0.42 and a beta of 1.44. First Solar, Inc. has a 52 week low of $129.21 and a 52 week high of $306.77. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.65 and a current ratio of 2.23. The company’s 50 day moving average price is $225.51 and its 200 day moving average price is $216.60.

First Solar (NASDAQ:FSLR) last released its quarterly earnings data on Tuesday, July 30th. The solar cell manufacturer reported $3.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.69 by $0.56. The business had revenue of $1.01 billion during the quarter, compared to analyst estimates of $939.71 million. First Solar had a net margin of 31.98% and a return on equity of 17.73%. First Solar’s quarterly revenue was up 24.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.85 EPS. Research analysts expect that First Solar, Inc. will post 13.62 EPS for the current fiscal year.

First Solar Company Profile

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.