Campbell & CO Investment Adviser LLC purchased a new position in shares of First Solar, Inc. (NASDAQ:FSLR) in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 6,985 shares of the solar cell manufacturer’s stock, valued at approximately $462,000.
Several other hedge funds and other institutional investors also recently modified their holdings of FSLR. Invesco Ltd. lifted its holdings in shares of First Solar by 13.3% during the first quarter. Invesco Ltd. now owns 3,285,367 shares of the solar cell manufacturer’s stock worth $118,471,000 after purchasing an additional 385,625 shares during the period. Waddell & Reed Financial Inc. purchased a new position in First Solar in the first quarter worth $7,538,000. First Trust Advisors LP raised its position in First Solar by 116.1% in the second quarter. First Trust Advisors LP now owns 280,921 shares of the solar cell manufacturer’s stock worth $13,906,000 after acquiring an additional 150,924 shares in the last quarter. Teachers Retirement System of The State of Kentucky raised its position in First Solar by 972.1% in the second quarter. Teachers Retirement System of The State of Kentucky now owns 129,918 shares of the solar cell manufacturer’s stock worth $6,431,000 after acquiring an additional 117,800 shares in the last quarter. Finally, Geode Capital Management LLC raised its position in First Solar by 12.3% in the first quarter. Geode Capital Management LLC now owns 1,045,652 shares of the solar cell manufacturer’s stock worth $37,706,000 after acquiring an additional 114,203 shares in the last quarter. 60.90% of the stock is owned by hedge funds and other institutional investors.
FSLR opened at $84.18 on Friday. The company has a quick ratio of 2.96, a current ratio of 3.66 and a debt-to-equity ratio of 0.07. The firm has a market cap of $8.92 billion, a P/E ratio of 90.52, a PEG ratio of 1.56 and a beta of 1.55. First Solar, Inc. has a 52 week low of $28.47 and a 52 week high of $85.66. The business’s fifty day simple moving average is $71.32 and its 200 day simple moving average is $56.58.
In other First Solar news, major shareholder Lukas T. Walton sold 8,649,074 shares of the firm’s stock in a transaction dated Monday, September 21st. The stock was sold at an average price of $68.50, for a total value of $592,461,569.00. Following the sale, the insider now directly owns 13,841,358 shares of the company’s stock, valued at approximately $948,133,023. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director R Craig Kennedy sold 550 shares of the firm’s stock in a transaction dated Thursday, October 15th. The stock was sold at an average price of $80.71, for a total value of $44,390.50. Following the completion of the sale, the director now directly owns 28,084 shares in the company, valued at $2,266,659.64. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 8,730,642 shares of company stock worth $598,445,989. Corporate insiders own 0.54% of the company’s stock.
FSLR has been the subject of several research analyst reports. Raymond James increased their price objective on First Solar from $72.00 to $80.00 and gave the stock an “outperform” rating in a research report on Thursday, October 8th. Roth Capital increased their price objective on First Solar from $56.00 to $65.00 and gave the stock a “neutral” rating in a research report on Friday, August 7th. 140166 initiated coverage on First Solar in a research report on Thursday. They issued a “neutral” rating and a $90.00 price objective for the company. JPMorgan Chase & Co. increased their price objective on First Solar from $80.00 to $87.00 and gave the stock an “overweight” rating in a research report on Wednesday. Finally, JMP Securities increased their price objective on First Solar from $57.00 to $91.00 in a research report on Friday, August 28th. Four analysts have rated the stock with a sell rating, seven have issued a hold rating and eight have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $68.56.
About First Solar
First Solar, Inc provides photovoltaic (PV) solar energy solutions in the United States and internationally. It operates in two segments, Modules and Systems. The Modules segment designs, manufactures, and sells cadmium telluride solar modules that convert sunlight into electricity to integrators and operators of PV solar power systems.
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