Electron Capital Partners LLC Purchases 7,660,409 Shares of First Solar, Inc. (NASDAQ:FSLR)

Electron Capital Partners LLC boosted its position in First Solar, Inc. (NASDAQ:FSLR) by 81,947.0% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 7,669,757 shares of the solar cell manufacturer’s stock after acquiring an additional 7,660,409 shares during the quarter. First Solar makes up approximately 39.0% of Electron Capital Partners LLC’s investment portfolio, making the stock its largest holding. Electron Capital Partners LLC owned 0.07% of First Solar worth $1,729,223,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Oregon Public Employees Retirement Fund grew its position in First Solar by 0.5% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 9,172 shares of the solar cell manufacturer’s stock worth $2,068,000 after purchasing an additional 49 shares during the last quarter. Cambridge Trust Co. grew its position in First Solar by 1.6% in the 1st quarter. Cambridge Trust Co. now owns 3,232 shares of the solar cell manufacturer’s stock worth $546,000 after purchasing an additional 50 shares during the last quarter. Great Diamond Partners LLC grew its position in First Solar by 3.8% in the 1st quarter. Great Diamond Partners LLC now owns 1,463 shares of the solar cell manufacturer’s stock worth $247,000 after purchasing an additional 53 shares during the last quarter. Xponance Inc. grew its position in First Solar by 0.4% in the 2nd quarter. Xponance Inc. now owns 15,346 shares of the solar cell manufacturer’s stock worth $3,460,000 after purchasing an additional 56 shares during the last quarter. Finally, Massmutual Trust Co. FSB ADV grew its position in First Solar by 24.9% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 311 shares of the solar cell manufacturer’s stock worth $70,000 after purchasing an additional 62 shares during the last quarter. 92.08% of the stock is currently owned by institutional investors and hedge funds.

First Solar Trading Down 1.2 %

FSLR opened at $241.72 on Thursday. 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 company has a market cap of $25.87 billion, a price-to-earnings ratio of 25.34, a price-to-earnings-growth ratio of 0.42 and a beta of 1.44. The firm has a 50 day simple moving average of $223.89 and a 200 day simple moving average of $214.86. First Solar, Inc. has a fifty-two week low of $129.21 and a fifty-two week high of $306.77.

First Solar (NASDAQ:FSLR) last posted its quarterly 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. The business had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $939.71 million. First Solar had a net margin of 31.98% and a return on equity of 17.73%. First Solar’s revenue for the quarter was up 24.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.85 earnings per share. On average, sell-side analysts anticipate that First Solar, Inc. will post 13.62 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Patrick James Buehler sold 8,619 shares of the business’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 transaction was disclosed in a legal filing with the SEC, which is available at this link. 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 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 $769,896. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Byron Michael Jeffers sold 1,766 shares of the company’s stock in a transaction that occurred on 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 directly owns 500 shares of the company’s stock, valued at approximately $108,250. The disclosure for this sale can be found here. Insiders sold a total of 10,885 shares of company stock valued at $2,405,757 over the last ninety days. Insiders own 0.58% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on FSLR shares. Barclays lifted their target price on shares of First Solar from $280.00 to $290.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. Clarkson Capital started coverage on shares of First Solar in a research report on Wednesday, August 14th. They set a “buy” rating and a $270.00 target price on the stock. Robert W. Baird decreased their target price on shares of First Solar from $344.00 to $307.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 2nd. Susquehanna lifted their target price on shares of First Solar from $258.00 to $285.00 and gave the company a “positive” rating in a research report on Wednesday, July 3rd. Finally, DZ Bank upgraded shares of First Solar from a “hold” rating to a “buy” rating and set a $280.00 target price on the stock in a research report on Thursday, August 1st. Five research analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $283.46.

About First Solar

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.