Parametrica Management Ltd Invests $3.23 Million in First Solar, Inc. (NASDAQ:FSLR)

Parametrica Management Ltd purchased a new stake in First Solar, Inc. (NASDAQ:FSLR) in the second quarter, Holdings Channel.com reports. The firm purchased 14,343 shares of the solar cell manufacturer’s stock, valued at approximately $3,234,000. First Solar accounts for about 4.3% of Parametrica Management Ltd’s investment portfolio, making the stock its 9th largest holding.

Other hedge funds have also recently bought and sold shares of the company. Sumitomo Mitsui Trust Holdings Inc. boosted its stake in shares of First Solar by 6.3% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 259,177 shares of the solar cell manufacturer’s stock valued at $43,749,000 after buying an additional 15,430 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in shares of First Solar by 20.3% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 121,055 shares of the solar cell manufacturer’s stock worth $20,434,000 after purchasing an additional 20,465 shares during the last quarter. Northern Trust Corp raised its stake in shares of First Solar by 1.7% in the 4th quarter. Northern Trust Corp now owns 1,020,527 shares of the solar cell manufacturer’s stock valued at $175,816,000 after purchasing an additional 16,756 shares in the last quarter. Legend Financial Advisors Inc. bought a new position in shares of First Solar during the first quarter worth about $759,000. Finally, Burford Brothers Inc. acquired a new position in First Solar in the fourth quarter worth about $3,539,000. Institutional investors and hedge funds own 92.08% of the company’s stock.

Insider Transactions at First Solar

In other First Solar news, insider Kuntal Kumar Verma sold 1,621 shares of First Solar stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $260.00, for a total transaction of $421,460.00. Following the transaction, the insider now owns 3,549 shares of the company’s stock, valued at approximately $922,740. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, CAO Byron Michael Jeffers sold 1,766 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief accounting officer now owns 500 shares of the company’s stock, valued at $108,250. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Kuntal Kumar Verma sold 1,621 shares of the stock in a transaction on Thursday, June 20th. The stock was sold at an average price of $260.00, for a total transaction of $421,460.00. Following the transaction, the insider now owns 3,549 shares in the company, valued at approximately $922,740. The disclosure for this sale can be found here. Insiders sold a total of 12,506 shares of company stock valued at $2,827,217 over the last quarter. Company insiders own 0.58% of the company’s stock.

First Solar Trading Up 15.2 %

Shares of FSLR opened at $239.84 on Thursday. The company has a current ratio of 2.23, a quick ratio of 1.65 and a debt-to-equity ratio of 0.06. First Solar, Inc. has a 1-year low of $129.21 and a 1-year high of $306.77. The stock has a market capitalization of $25.67 billion, a P/E ratio of 25.14, a P/E/G ratio of 0.35 and a beta of 1.44. The business’s 50-day moving average price is $220.84 and its 200 day moving average price is $208.92.

First Solar (NASDAQ:FSLR) last released its quarterly earnings results on Tuesday, July 30th. The solar cell manufacturer reported $3.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.69 by $0.56. The business had revenue of $1.01 billion for 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%. The firm’s 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 earnings per share. Analysts expect that First Solar, Inc. will post 13.6 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages have issued reports on FSLR. The Goldman Sachs Group upped their price objective on First Solar from $268.00 to $302.00 and gave the company a “buy” rating in a research note on Tuesday, June 4th. Roth Mkm reiterated a “buy” rating and set a $320.00 target price (up previously from $230.00) on shares of First Solar in a research note on Friday, May 31st. Susquehanna boosted their price objective on First Solar from $258.00 to $285.00 and gave the company a “positive” rating in a research report on Wednesday, July 3rd. Janney Montgomery Scott cut shares of First Solar from a “buy” rating to a “neutral” rating in a report on Tuesday, June 18th. Finally, Robert W. Baird decreased their target price on shares of First Solar from $344.00 to $307.00 and set an “outperform” rating for the company in a research report on Tuesday, July 2nd. Five equities research analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the stock. According to MarketBeat, First Solar has a consensus rating of “Moderate Buy” and an average price target of $277.25.

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.