PFG Investments LLC Increases Stock Holdings in First Solar, Inc. (NASDAQ:FSLR)

PFG Investments LLC grew its holdings in shares of First Solar, Inc. (NASDAQ:FSLR) by 6.7% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,838 shares of the solar cell manufacturer’s stock after purchasing an additional 367 shares during the period. PFG Investments LLC’s holdings in First Solar were worth $1,456,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the business. Forsta AP Fonden raised its stake in shares of First Solar by 11.7% in the third quarter. Forsta AP Fonden now owns 25,700 shares of the solar cell manufacturer’s stock valued at $6,411,000 after acquiring an additional 2,700 shares in the last quarter. Burford Brothers Inc. increased its holdings in First Solar by 1.9% during the 3rd quarter. Burford Brothers Inc. now owns 18,753 shares of the solar cell manufacturer’s stock worth $4,678,000 after purchasing an additional 341 shares during the period. Mediolanum International Funds Ltd acquired a new stake in First Solar in the 3rd quarter valued at about $4,003,000. Warther Private Wealth LLC purchased a new position in shares of First Solar in the 3rd quarter valued at about $2,655,000. Finally, Ballentine Partners LLC grew its position in shares of First Solar by 8.7% during the third quarter. Ballentine Partners LLC now owns 2,624 shares of the solar cell manufacturer’s stock worth $655,000 after buying an additional 209 shares in the last quarter. Institutional investors and hedge funds own 92.08% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on FSLR shares. Roth Mkm decreased their price target on shares of First Solar from $320.00 to $280.00 and set a “buy” rating for the company in a research note on Tuesday, October 15th. Citigroup upgraded shares of First Solar from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $200.00 to $254.00 in a research note on Tuesday, October 22nd. Truist Financial started coverage on First Solar in a report on Thursday, September 26th. They set a “buy” rating and a $300.00 price target for the company. Hsbc Global Res upgraded First Solar to a “strong-buy” rating in a report on Wednesday, October 9th. Finally, Barclays boosted their target price on First Solar from $280.00 to $290.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. Three analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $288.46.

First Solar Price Performance

First Solar stock opened at $198.47 on Friday. The business has a 50 day simple moving average of $224.06 and a 200-day simple moving average of $223.58. First Solar, Inc. has a 12 month low of $129.21 and a 12 month high of $306.77. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.23 and a quick ratio of 1.65. The stock has a market capitalization of $21.25 billion, a PE ratio of 17.72, a price-to-earnings-growth ratio of 0.34 and a beta of 1.44.

First Solar (NASDAQ:FSLR) last announced its quarterly earnings data on Tuesday, July 30th. The solar cell manufacturer reported $3.25 EPS for the quarter, topping analysts’ consensus estimates of $2.69 by $0.56. The company had revenue of $1.01 billion during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.85 EPS. Equities analysts predict that First Solar, Inc. will post 13.39 earnings per share for the current year.

Insider Buying and Selling at First Solar

In other news, CAO Byron Michael Jeffers sold 500 shares of the stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $220.00, for a total transaction of $110,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other First Solar news, insider Patrick James Buehler sold 8,619 shares of the company’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $222.00, for a total transaction of $1,913,418.00. Following the transaction, the insider now directly owns 3,468 shares in the company, valued at approximately $769,896. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Byron Michael Jeffers sold 500 shares of the stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $220.00, for a total transaction of $110,000.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 10,885 shares of company stock valued at $2,405,757. 0.58% of the stock is owned by corporate insiders.

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.