Peregrine Asset Advisers Inc. Invests $4.20 Million in First Solar, Inc. $FSLR

Peregrine Asset Advisers Inc. bought a new stake in shares of First Solar, Inc. (NASDAQ:FSLR) in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 19,063 shares of the solar cell manufacturer’s stock, valued at approximately $4,204,000. First Solar makes up 1.3% of Peregrine Asset Advisers Inc.’s holdings, making the stock its 22nd biggest position.

A number of other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in First Solar by 0.4% in the 2nd quarter. Vanguard Group Inc. now owns 13,257,849 shares of the solar cell manufacturer’s stock valued at $2,194,704,000 after acquiring an additional 57,507 shares during the last quarter. State Street Corp lifted its stake in First Solar by 2.1% during the second quarter. State Street Corp now owns 5,326,082 shares of the solar cell manufacturer’s stock valued at $881,680,000 after purchasing an additional 111,927 shares during the last quarter. Geode Capital Management LLC boosted its holdings in First Solar by 0.9% during the second quarter. Geode Capital Management LLC now owns 2,857,848 shares of the solar cell manufacturer’s stock worth $471,927,000 after buying an additional 26,476 shares in the last quarter. Viking Global Investors LP boosted its holdings in First Solar by 60.6% during the second quarter. Viking Global Investors LP now owns 2,266,050 shares of the solar cell manufacturer’s stock worth $375,122,000 after buying an additional 854,919 shares in the last quarter. Finally, Schroder Investment Management Group grew its position in First Solar by 3.7% in the second quarter. Schroder Investment Management Group now owns 1,350,084 shares of the solar cell manufacturer’s stock worth $223,493,000 after buying an additional 47,646 shares during the last quarter. 92.08% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other First Solar news, Director Paul H. Stebbins sold 7,000 shares of First Solar 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 directly owned 15,287 shares in the company, valued at $4,011,308.80. The trade was a 31.41% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Michael T. Sweeney sold 4,500 shares of the business’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 completion of the sale, the director directly owned 13,662 shares of the company’s stock, valued at $3,703,904.82. This represents a 24.78% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.48% of the stock is owned by insiders.

First Solar Stock Up 3.7%

First Solar stock opened at $239.04 on Wednesday. First Solar, Inc. has a twelve month low of $116.56 and a twelve month high of $285.99. 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 market cap of $25.65 billion, a PE ratio of 18.36, a P/E/G ratio of 0.30 and a beta of 1.60. The firm’s 50 day moving average price is $254.72 and its two-hundred day moving average price is $231.16.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on FSLR shares. Roth Mkm set a $300.00 price objective on First Solar in a research report on Friday, October 31st. Mizuho boosted their target price on First Solar from $278.00 to $335.00 in a research report on Friday, October 31st. Barclays reiterated an “overweight” rating and issued a $279.00 price target on shares of First Solar in a research report on Monday, November 3rd. Guggenheim lifted their price target on First Solar from $289.00 to $312.00 and gave the stock a “buy” rating in a research note on Thursday, January 8th. Finally, Glj Research upped their price objective on shares of First Solar from $214.06 to $314.43 and gave the company a “buy” rating in a research note on Tuesday, November 4th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and nine have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $275.94.

First Solar 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.