Vectors Research Management LLC Increases Stock Holdings in First Solar, Inc. (NASDAQ:FSLR)

Vectors Research Management LLC lifted its position in First Solar, Inc. (NASDAQ:FSLRGet Rating) by 86.8% in the second quarter, HoldingsChannel reports. The firm owned 21,451 shares of the solar cell manufacturer’s stock after buying an additional 9,967 shares during the period. Vectors Research Management LLC’s holdings in First Solar were worth $1,461,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the company. BlackRock Inc. grew its holdings in shares of First Solar by 4.7% in the first quarter. BlackRock Inc. now owns 14,234,653 shares of the solar cell manufacturer’s stock valued at $1,192,010,000 after purchasing an additional 636,492 shares during the period. Vanguard Group Inc. boosted its stake in First Solar by 0.7% during the first quarter. Vanguard Group Inc. now owns 9,171,019 shares of the solar cell manufacturer’s stock worth $767,981,000 after buying an additional 68,131 shares during the period. State Street Corp boosted its stake in First Solar by 1.9% during the first quarter. State Street Corp now owns 3,230,644 shares of the solar cell manufacturer’s stock worth $270,534,000 after buying an additional 60,266 shares during the period. FMR LLC boosted its stake in First Solar by 13.3% during the second quarter. FMR LLC now owns 1,773,414 shares of the solar cell manufacturer’s stock worth $120,822,000 after buying an additional 208,322 shares during the period. Finally, Dimensional Fund Advisors LP boosted its stake in First Solar by 7.7% during the first quarter. Dimensional Fund Advisors LP now owns 1,430,951 shares of the solar cell manufacturer’s stock worth $119,819,000 after buying an additional 102,608 shares during the period. Hedge funds and other institutional investors own 79.21% of the company’s stock.

Insider Activity

In other news, Director R Craig Kennedy sold 600 shares of First Solar stock in a transaction on Monday, October 17th. The shares were sold at an average price of $125.68, for a total value of $75,408.00. Following the transaction, the director now directly owns 18,888 shares of the company’s stock, valued at approximately $2,373,843.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.54% of the company’s stock.

First Solar Stock Up 1.1 %

FSLR stock traded up $1.81 during midday trading on Thursday, reaching $169.47. 1,645,753 shares of the company were exchanged, compared to its average volume of 3,037,356. The stock’s 50-day simple moving average is $139.46 and its 200 day simple moving average is $105.35. The company has a market cap of $18.07 billion, a price-to-earnings ratio of 192.58 and a beta of 1.26. First Solar, Inc. has a 1-year low of $59.60 and a 1-year high of $170.52. The company has a debt-to-equity ratio of 0.04, a quick ratio of 3.10 and a current ratio of 4.09.

First Solar (NASDAQ:FSLRGet Rating) last announced its earnings results on Thursday, October 27th. The solar cell manufacturer reported ($0.46) EPS for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.30). The business had revenue of $629.00 million during the quarter, compared to analyst estimates of $747.97 million. First Solar had a net margin of 3.75% and a return on equity of 1.61%. The business’s revenue was up 7.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.42 earnings per share. On average, equities analysts forecast that First Solar, Inc. will post -0.51 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Susquehanna Bancshares increased their target price on shares of First Solar from $120.00 to $175.00 in a research note on Friday, September 9th. Morgan Stanley raised their target price on shares of First Solar from $136.00 to $146.00 and gave the company an “equal weight” rating in a report on Thursday, September 22nd. UBS Group raised their target price on shares of First Solar from $76.00 to $140.00 and gave the company a “neutral” rating in a report on Friday, October 28th. Evercore ISI raised shares of First Solar from an “in-line” rating to an “outperform” rating and raised their target price for the company from $88.00 to $150.00 in a report on Wednesday, September 28th. Finally, Guggenheim raised their target price on shares of First Solar from $200.00 to $233.00 in a report on Monday, October 31st. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $161.96.

First Solar Profile

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First Solar, Inc provides photovoltaic (PV) solar energy solutions in the United State, Japan, France, Canada, India, Australia, and internationally. The company designs, manufactures, and sells cadmium telluride solar modules that converts sunlight into electricity. It serves developers and operators of systems, utilities, independent power producers, commercial and industrial companies, and other system owners.

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Institutional Ownership by Quarter for First Solar (NASDAQ:FSLR)

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