First Solar, Inc. (NASDAQ:FSLR) Stock Holdings Boosted by GAMMA Investing LLC

GAMMA Investing LLC lifted its position in First Solar, Inc. (NASDAQ:FSLR) by 9.5% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,859 shares of the solar cell manufacturer’s stock after buying an additional 161 shares during the period. GAMMA Investing LLC’s holdings in First Solar were worth $464,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Czech National Bank grew its stake in shares of First Solar by 6.9% in the 3rd quarter. Czech National Bank now owns 21,812 shares of the solar cell manufacturer’s stock worth $5,441,000 after purchasing an additional 1,415 shares during the last quarter. Handelsbanken Fonder AB boosted its holdings in First Solar by 114.5% during the third quarter. Handelsbanken Fonder AB now owns 178,266 shares of the solar cell manufacturer’s stock worth $44,467,000 after buying an additional 95,167 shares in the last quarter. Massmutual Trust Co. FSB ADV grew its position in 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 during the last quarter. Trust Co. of Toledo NA OH increased its holdings in shares of First Solar by 19.3% in 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 buying an additional 275 shares in the last quarter. Finally, Centaurus Financial Inc. acquired a new stake in shares of First Solar during the 2nd quarter valued at $179,000. Institutional investors and hedge funds own 92.08% of the company’s stock.

First Solar Stock Performance

FSLR opened at $226.05 on Thursday. The company has a quick ratio of 1.65, a current ratio of 2.23 and a debt-to-equity ratio of 0.06. The business has a 50 day moving average of $227.86 and a 200-day moving average of $220.82. First Solar, Inc. has a 12-month low of $129.21 and a 12-month high of $306.77. The stock has a market cap of $24.20 billion, a price-to-earnings ratio of 23.69, a PEG ratio of 0.42 and a beta of 1.44.

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

Insiders Place Their Bets

In related news, CAO Byron Michael Jeffers sold 1,766 shares of the business’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $216.50, for a total value of $382,339.00. Following the completion of the sale, the chief accounting officer now directly owns 500 shares in the company, valued at approximately $108,250. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related news, CAO Byron Michael Jeffers sold 1,766 shares of the company’s 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 sale, the chief accounting officer now 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 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 approximately $769,896. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 10,885 shares of company stock worth $2,405,757 in the last quarter. Corporate insiders own 0.58% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the company. BMO Capital Markets cut their target price on First Solar from $311.00 to $286.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 31st. Janney Montgomery Scott lowered shares of First Solar from a “buy” rating to a “neutral” rating in a research note on Tuesday, June 18th. William Blair started coverage on shares of First Solar in a research note on Thursday, August 29th. They set a “market perform” rating on the stock. Deutsche Bank Aktiengesellschaft raised their price objective on First Solar from $215.00 to $280.00 and gave the stock a “buy” rating in a research report on Friday, June 28th. Finally, Robert W. Baird lowered their price target on First Solar from $344.00 to $307.00 and set an “outperform” rating for the company in a research note on Tuesday, July 2nd. Four research analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $283.24.

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.