AGF Management Ltd. Raises Stake in First Solar, Inc. $FSLR

AGF Management Ltd. raised its stake in First Solar, Inc. (NASDAQ:FSLR) by 274.3% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 56,952 shares of the solar cell manufacturer’s stock after buying an additional 41,737 shares during the period. AGF Management Ltd. owned about 0.05% of First Solar worth $12,560,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also modified their holdings of the stock. State of Wyoming bought a new position in First Solar in the third quarter worth about $92,000. Jones Financial Companies Lllp grew its position in First Solar by 27.4% during the 3rd quarter. Jones Financial Companies Lllp now owns 7,688 shares of the solar cell manufacturer’s stock worth $1,691,000 after purchasing an additional 1,653 shares during the last quarter. Allied Investment Advisors LLC purchased a new stake in shares of First Solar during the third quarter valued at $226,000. Mediolanum International Funds Ltd grew its stake in First Solar by 71.5% during the 3rd quarter. Mediolanum International Funds Ltd now owns 122,820 shares of the solar cell manufacturer’s stock valued at $27,454,000 after purchasing an additional 51,190 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its position in First Solar by 18.8% in the third quarter. Principal Financial Group Inc. now owns 187,767 shares of the solar cell manufacturer’s stock valued at $41,408,000 after buying an additional 29,651 shares during the last quarter. 92.08% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at First Solar

In other news, Director Paul H. Stebbins sold 7,000 shares of the stock in a transaction that occurred on Friday, November 7th. The shares were sold at an average price of $262.40, for a total value of $1,836,800.00. Following the completion of the sale, the director owned 15,287 shares of the company’s stock, valued at $4,011,308.80. This represents a 31.41% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Michael T. Sweeney sold 4,500 shares of the firm’s stock in a transaction that occurred on Thursday, November 6th. The stock was sold at an average price of $271.11, for a total transaction of $1,219,995.00. Following the sale, the director owned 13,662 shares of the company’s stock, valued at $3,703,904.82. This represents a 24.78% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.48% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently commented on FSLR. Citigroup upped their price objective on shares of First Solar from $198.00 to $300.00 and gave the company a “buy” rating in a report on Tuesday, October 14th. Glj Research increased their price target on First Solar from $214.06 to $314.43 and gave the stock a “buy” rating in a research report on Tuesday, November 4th. JPMorgan Chase & Co. lifted their price objective on First Solar from $278.00 to $303.00 and gave the company an “overweight” rating in a research note on Friday, October 31st. Rothschild & Co Redburn upped their target price on First Solar from $150.00 to $260.00 and gave the stock a “neutral” rating in a research note on Thursday, November 13th. Finally, Jefferies Financial Group cut shares of First Solar from a “buy” rating to a “hold” rating and decreased their target price for the company from $269.00 to $260.00 in a research note on Wednesday, January 7th. One analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $275.94.

First Solar Price Performance

Shares of NASDAQ FSLR opened at $230.55 on Tuesday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.55 and a current ratio of 1.91. The firm has a fifty day moving average of $255.15 and a 200 day moving average of $230.72. The firm has a market cap of $24.74 billion, a PE ratio of 17.71, a PEG ratio of 0.29 and a beta of 1.60. First Solar, Inc. has a one year low of $116.56 and a one year high of $285.99.

First Solar Company Profile

First Solar, Inc (NASDAQ: FSLR) is a United States–based solar technology company best known for designing and manufacturing thin‑film photovoltaic (PV) modules that use cadmium telluride (CdTe) semiconductor technology. The company supplies PV modules and delivers integrated solar power solutions for utility‑scale projects, positioning itself as a provider of both components and complete solar energy systems rather than solely a parts supplier. First Solar was founded in 1999 and is headquartered in Tempe, Arizona.

Beyond module manufacturing, First Solar offers a range of project services including development support, engineering, procurement and construction (EPC) services, and operations and maintenance (O&M) for large-scale solar installations.