Neuburgh Advisers LLC increased its position in shares of First Solar, Inc. (NASDAQ:FSLR) by 54.6% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 11,022 shares of the solar cell manufacturer’s stock after buying an additional 3,894 shares during the period. Neuburgh Advisers LLC’s holdings in First Solar were worth $782,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Peregrine Asset Advisers Inc. purchased a new stake in First Solar during the fourth quarter worth $3,955,000. Profund Advisors LLC lifted its holdings in First Solar by 7.7% during the fourth quarter. Profund Advisors LLC now owns 11,812 shares of the solar cell manufacturer’s stock valued at $798,000 after purchasing an additional 848 shares in the last quarter. Geode Capital Management LLC lifted its holdings in First Solar by 3.8% during the fourth quarter. Geode Capital Management LLC now owns 757,176 shares of the solar cell manufacturer’s stock valued at $51,124,000 after purchasing an additional 27,763 shares in the last quarter. Xact Kapitalforvaltning AB purchased a new position in First Solar during the fourth quarter valued at $485,000. Finally, Green Square Capital LLC purchased a new position in First Solar during the fourth quarter valued at $207,000. 54.39% of the stock is currently owned by hedge funds and other institutional investors.
In other news, Director George A. Hambro acquired 3,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 28th. The stock was purchased at an average cost of $62.66 per share, for a total transaction of $187,980.00. Following the completion of the transaction, the director now owns 21,934 shares in the company, valued at $1,374,384.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Mark R. Widmar sold 20,574 shares of the firm’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $63.90, for a total transaction of $1,314,678.60. Following the sale, the chief executive officer now owns 78,634 shares of the company’s stock, valued at $5,024,712.60. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 49,046 shares of company stock valued at $3,330,441. 0.54% of the stock is owned by company insiders.
FSLR has been the topic of several recent analyst reports. Bank of America raised shares of First Solar from a “neutral” rating to a “buy” rating in a report on Wednesday, April 18th. Zacks Investment Research raised shares of First Solar from a “hold” rating to a “strong-buy” rating and set a $73.00 price objective on the stock in a report on Wednesday, February 7th. BidaskClub raised shares of First Solar from a “hold” rating to a “buy” rating in a report on Friday, February 16th. ValuEngine raised shares of First Solar from a “buy” rating to a “strong-buy” rating in a report on Monday, April 2nd. Finally, JMP Securities increased their price objective on shares of First Solar to $84.00 and gave the company an “outperform” rating in a report on Thursday, February 1st. Two analysts have rated the stock with a sell rating, six have issued a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $74.47.
First Solar opened at $70.00 on Friday, Marketbeat Ratings reports. The company has a current ratio of 6.81, a quick ratio of 6.49 and a debt-to-equity ratio of 0.08. The stock has a market capitalization of $7.33 billion, a PE ratio of 27.03, a price-to-earnings-growth ratio of 2.75 and a beta of 1.84. First Solar, Inc. has a twelve month low of $35.12 and a twelve month high of $81.72.
First Solar (NASDAQ:FSLR) last posted its quarterly earnings results on Thursday, April 26th. The solar cell manufacturer reported $0.78 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.08) by $0.86. The firm had revenue of $567.00 million for the quarter, compared to the consensus estimate of $421.47 million. First Solar had a negative net margin of 3.51% and a positive return on equity of 6.26%. The company’s revenue for the quarter was down 36.4% on a year-over-year basis. During the same period last year, the firm posted $0.25 earnings per share. research analysts anticipate that First Solar, Inc. will post 1.77 earnings per share for the current year.
First Solar Company Profile
First Solar, Inc provides photovoltaic solar energy solutions in the United States and internationally. It operates through two segments, Components and Systems. The Components segment designs, manufactures, and sells cadmium telluride solar modules that convert sunlight into electricity. This segment offers its products to integrators and operators.
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