Mackenzie Financial Corp Has $5.37 Million Stake in First Solar, Inc. (NASDAQ:FSLR)

Mackenzie Financial Corp raised its stake in First Solar, Inc. (NASDAQ:FSLR) by 52.3% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 23,835 shares of the solar cell manufacturer’s stock after acquiring an additional 8,186 shares during the quarter. Mackenzie Financial Corp’s holdings in First Solar were worth $5,374,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of FSLR. Dixon Mitchell Investment Counsel Inc. bought a new position in First Solar during the first quarter worth about $25,000. University of Texas Texas AM Investment Managment Co. acquired a new stake in First Solar during the 4th quarter worth approximately $27,000. Atlas Capital Advisors LLC increased its position in First Solar by 411.1% during the second quarter. Atlas Capital Advisors LLC now owns 138 shares of the solar cell manufacturer’s stock worth $31,000 after acquiring an additional 111 shares during the period. Riverview Trust Co bought a new position in shares of First Solar during the first quarter worth approximately $32,000. Finally, Summit Securities Group LLC bought a new stake in shares of First Solar in the second quarter valued at approximately $36,000. Institutional investors and hedge funds own 92.08% of the company’s stock.

First Solar Stock Down 3.5 %

Shares of NASDAQ:FSLR opened at $240.66 on Wednesday. First Solar, Inc. has a 12-month low of $129.21 and a 12-month high of $306.77. The stock has a market capitalization of $25.76 billion, a price-to-earnings ratio of 25.23, a PEG ratio of 0.42 and a beta of 1.44. The stock has a fifty day simple moving average of $226.45 and a two-hundred day simple moving average of $217.96. The company has a current ratio of 2.23, a quick ratio of 1.65 and a debt-to-equity ratio of 0.06.

First Solar (NASDAQ:FSLR) last issued its earnings results on Tuesday, July 30th. The solar cell manufacturer reported $3.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.69 by $0.56. First Solar had a net margin of 31.98% and a return on equity of 17.73%. The business had revenue of $1.01 billion during the quarter, compared to analysts’ expectations of $939.71 million. During the same period in the previous year, the company earned $1.85 earnings per share. The business’s revenue for the quarter was up 24.6% compared to the same quarter last year. On average, research analysts anticipate that First Solar, Inc. will post 13.62 earnings per share for the current fiscal year.

Analysts Set New Price Targets

FSLR has been the topic of a number of research analyst reports. Barclays raised their target price on First Solar from $280.00 to $290.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. Susquehanna raised their price objective on First Solar from $258.00 to $285.00 and gave the stock a “positive” rating in a research report on Wednesday, July 3rd. Oppenheimer boosted their price objective on First Solar from $325.00 to $326.00 and gave the company an “outperform” rating in a research note on Wednesday, July 31st. Morgan Stanley upped their price objective on shares of First Solar from $248.00 to $331.00 and gave the stock an “overweight” rating in a report on Tuesday, June 4th. Finally, Janney Montgomery Scott cut First Solar from a “buy” rating to a “neutral” rating in a research report on Tuesday, June 18th. Five equities research analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the stock. Based on data from MarketBeat, First Solar currently has an average rating of “Moderate Buy” and a consensus price target of $284.12.

Insider Buying and Selling at First Solar

In other First Solar news, insider Patrick James Buehler sold 8,619 shares of First Solar stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $222.00, for a total value 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 approximately $769,896. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other First Solar news, insider Patrick James Buehler sold 8,619 shares of the company’s stock in a transaction that occurred 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 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 this link. Also, CAO Byron Michael Jeffers sold 1,766 shares of First Solar stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $216.50, for a total value of $382,339.00. Following the transaction, the chief accounting officer now owns 500 shares in the company, valued at $108,250. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 10,885 shares of company stock worth $2,405,757. Company insiders own 0.58% of the company’s stock.

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.