Czech National Bank Boosts Stake in First Solar, Inc. (NASDAQ:FSLR)

Czech National Bank increased its position in First Solar, Inc. (NASDAQ:FSLR) by 6.9% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,812 shares of the solar cell manufacturer’s stock after buying an additional 1,415 shares during the period. Czech National Bank’s holdings in First Solar were worth $5,441,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the company. Massmutual Trust Co. FSB ADV lifted its position in shares of First Solar by 14.5% in the third quarter. Massmutual Trust Co. FSB ADV now owns 356 shares of the solar cell manufacturer’s stock worth $89,000 after buying an additional 45 shares in the last quarter. Trust Co. of Toledo NA OH raised its position in First Solar by 19.3% during the third quarter. Trust Co. of Toledo NA OH now owns 1,700 shares of the solar cell manufacturer’s stock valued at $424,000 after purchasing an additional 275 shares during the period. Centaurus Financial Inc. purchased a new stake in First Solar during the second quarter valued at approximately $179,000. Sanctuary Advisors LLC purchased a new stake in First Solar during the second quarter valued at approximately $650,000. Finally, Teachers Retirement System of The State of Kentucky raised its position in First Solar by 691.1% during the second quarter. Teachers Retirement System of The State of Kentucky now owns 76,368 shares of the solar cell manufacturer’s stock valued at $17,218,000 after purchasing an additional 66,715 shares during the period. 92.08% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

FSLR has been the topic of a number of recent research reports. Oppenheimer upped their price objective on First Solar from $325.00 to $326.00 and gave the company an “outperform” rating in a research report on Wednesday, July 31st. Janney Montgomery Scott cut First Solar from a “buy” rating to a “neutral” rating in a research note on Tuesday, June 18th. William Blair assumed coverage on First Solar in a research report on Thursday, August 29th. They set a “market perform” rating on the stock. 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. Finally, Clarkson Capital initiated coverage on First Solar in a research note on Wednesday, August 14th. They issued a “buy” rating and a $270.00 target price for the company. Four equities research analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company’s stock. According to MarketBeat.com, First Solar has a consensus rating of “Moderate Buy” and a consensus price target of $284.12.

Insider Buying and Selling at First Solar

In other news, insider Patrick James Buehler sold 8,619 shares of the company’s stock in a transaction dated 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 directly owns 3,468 shares of the company’s stock, valued at approximately $769,896. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CAO Byron Michael Jeffers sold 1,766 shares of the stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $216.50, for a total transaction of $382,339.00. Following the completion of the transaction, the chief accounting officer now directly owns 500 shares of the company’s stock, valued at $108,250. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Patrick James Buehler sold 8,619 shares of the stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $222.00, for a total transaction of $1,913,418.00. Following the transaction, the insider now directly owns 3,468 shares of the company’s stock, valued at $769,896. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 10,885 shares of company stock worth $2,405,757 over the last 90 days. Corporate insiders own 0.58% of the company’s stock.

First Solar Stock Performance

Shares of FSLR stock opened at $231.13 on Friday. The company has a current ratio of 2.23, a quick ratio of 1.65 and a debt-to-equity ratio of 0.06. The firm has a fifty day moving average price of $227.18 and a 200 day moving average price of $218.76. The company has a market cap of $24.74 billion, a P/E ratio of 24.23, a PEG ratio of 0.42 and a beta of 1.44. 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 (EPS) for the quarter, beating 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 company had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $939.71 million. During the same quarter in the prior year, the firm posted $1.85 earnings per share. First Solar’s revenue for the quarter was up 24.6% on a year-over-year basis. Sell-side analysts predict that First Solar, Inc. will post 13.62 earnings per share for the current fiscal year.

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.