American Century Companies Inc. Acquires 14,298 Shares of First Solar, Inc. (NASDAQ:FSLR)

American Century Companies Inc. grew its holdings in First Solar, Inc. (NASDAQ:FSLR) by 33.3% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 57,292 shares of the solar cell manufacturer’s stock after purchasing an additional 14,298 shares during the quarter. American Century Companies Inc. owned approximately 0.05% of First Solar worth $12,917,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. VitalStone Financial LLC purchased a new stake in First Solar during the second quarter worth $288,000. AGF Management Ltd. boosted its position in First Solar by 279.5% during the second quarter. AGF Management Ltd. now owns 26,234 shares of the solar cell manufacturer’s stock valued at $5,915,000 after purchasing an additional 19,321 shares in the last quarter. Coldstream Capital Management Inc. boosted its position in First Solar by 18.0% during the second quarter. Coldstream Capital Management Inc. now owns 4,142 shares of the solar cell manufacturer’s stock valued at $934,000 after purchasing an additional 632 shares in the last quarter. LGT Group Foundation raised its holdings in First Solar by 1.3% in the second quarter. LGT Group Foundation now owns 22,562 shares of the solar cell manufacturer’s stock worth $5,087,000 after purchasing an additional 298 shares in the last quarter. Finally, Liberty Wealth Management LLC bought a new position in First Solar in the second quarter worth about $3,559,000. Hedge funds and other institutional investors own 92.08% of the company’s stock.

First Solar Price Performance

Shares of NASDAQ FSLR opened at $240.20 on Friday. 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 $25.71 billion, a price-to-earnings ratio of 25.18, a PEG ratio of 0.40 and a beta of 1.44. The firm’s 50 day simple moving average is $222.03 and its 200-day simple moving average is $213.07. First Solar, Inc. has a 12 month low of $129.21 and a 12 month high of $306.77.

First Solar (NASDAQ:FSLR) last released its quarterly earnings data on Tuesday, July 30th. The solar cell manufacturer reported $3.25 earnings per share for the quarter, beating analysts’ consensus estimates of $2.69 by $0.56. First Solar had a net margin of 31.98% and a return on equity of 17.73%. The company had revenue of $1.01 billion during the quarter, compared to analysts’ expectations of $939.71 million. During the same quarter in the previous year, the company earned $1.85 earnings per share. The firm’s revenue for the quarter was up 24.6% on a year-over-year basis. Analysts expect that First Solar, Inc. will post 13.6 EPS for the current year.

Analyst Upgrades and Downgrades

FSLR has been the topic of a number of analyst reports. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $315.00 price objective on shares of First Solar in a research report on Wednesday, July 31st. JPMorgan Chase & Co. increased their price objective on First Solar from $262.00 to $282.00 and gave the company an “overweight” rating in a report on Tuesday, July 16th. DZ Bank upgraded First Solar from a “hold” rating to a “buy” rating and set a $280.00 target price on the stock in a research note on Thursday, August 1st. Robert W. Baird reduced their target price on First Solar from $344.00 to $307.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 2nd. Finally, BMO Capital Markets lowered their price target on First Solar from $311.00 to $286.00 and set an “outperform” rating for the company in a report on Wednesday, July 31st. Five investment analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $283.46.

Insider Buying and Selling

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