Mivtachim The Workers Social Insurance Fund Ltd. Under Special Management Makes New $17.64 Million Investment in First Solar, Inc. (NASDAQ:FSLR)

Mivtachim The Workers Social Insurance Fund Ltd. Under Special Management acquired a new stake in shares of First Solar, Inc. (NASDAQ:FSLR) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 70,700 shares of the solar cell manufacturer’s stock, valued at approximately $17,635,000. First Solar comprises about 2.4% of Mivtachim The Workers Social Insurance Fund Ltd. Under Special Management’s holdings, making the stock its 14th biggest holding. Mivtachim The Workers Social Insurance Fund Ltd. Under Special Management owned 0.07% of First Solar at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of FSLR. AlphaMark Advisors LLC purchased a new position in shares of First Solar in the third quarter valued at about $25,000. Atlas Capital Advisors LLC increased its holdings in First Solar by 411.1% during the 2nd quarter. Atlas Capital Advisors LLC now owns 138 shares of the solar cell manufacturer’s stock valued at $31,000 after purchasing an additional 111 shares during the period. Summit Securities Group LLC bought a new position in First Solar during the 2nd quarter valued at approximately $36,000. Itau Unibanco Holding S.A. purchased a new stake in First Solar in the 2nd quarter worth approximately $38,000. Finally, Alta Advisers Ltd bought a new stake in shares of First Solar in the 2nd quarter worth approximately $45,000. Hedge funds and other institutional investors own 92.08% of the company’s stock.

First Solar Stock Performance

Shares of First Solar stock traded down $2.77 during trading on Friday, hitting $193.93. 3,559,985 shares of the company’s stock traded hands, compared to its average volume of 3,888,382. First Solar, Inc. has a 1 year low of $129.21 and a 1 year high of $306.77. The business has a 50-day simple moving average of $218.98 and a 200-day simple moving average of $225.18. The stock has a market capitalization of $20.76 billion, a P/E ratio of 16.70, a PEG ratio of 0.34 and a beta of 1.48. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.14 and a quick ratio of 1.44.

First Solar (NASDAQ:FSLR) last announced its quarterly earnings results on Tuesday, October 29th. The solar cell manufacturer reported $2.91 EPS for the quarter, missing analysts’ consensus estimates of $3.10 by ($0.19). The company had revenue of $887.70 million during the quarter, compared to the consensus estimate of $1.07 billion. First Solar had a return on equity of 17.56% and a net margin of 32.41%. The business’s revenue was up 10.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.50 earnings per share. As a group, analysts forecast that First Solar, Inc. will post 13.16 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts recently commented on FSLR shares. Hsbc Global Res raised First Solar to a “strong-buy” rating in a research note on Wednesday, October 9th. Wells Fargo & Company dropped their target price on shares of First Solar from $250.00 to $240.00 and set an “overweight” rating for the company in a research report on Wednesday, October 30th. William Blair initiated coverage on shares of First Solar in a research report on Thursday, August 29th. They set a “market perform” rating on the stock. Roth Mkm lowered their price objective on shares of First Solar from $320.00 to $280.00 and set a “buy” rating for the company in a report on Tuesday, October 15th. Finally, Susquehanna reduced their target price on First Solar from $280.00 to $252.00 and set a “positive” rating on the stock in a report on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, First Solar presently has a consensus rating of “Moderate Buy” and a consensus target price of $281.13.

Insider Buying and Selling at First Solar

In other First Solar news, CAO Byron Michael Jeffers sold 500 shares of the stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $220.00, for a total value of $110,000.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, insider Patrick James Buehler sold 8,619 shares of the business’s stock in a transaction on 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 completion of the sale, the insider now owns 3,468 shares of the company’s stock, valued at $769,896. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Byron Michael Jeffers sold 500 shares of the firm’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $220.00, for a total value of $110,000.00. The disclosure for this sale can be found here. Company insiders own 0.58% of the company’s stock.

First Solar 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.