E Fund Management Co. Ltd. Makes New $278,000 Investment in First Solar, Inc. (NASDAQ:FSLR)

E Fund Management Co. Ltd. purchased a new position in shares of First Solar, Inc. (NASDAQ:FSLR) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 1,232 shares of the solar cell manufacturer’s stock, valued at approximately $278,000.

Several other hedge funds have also recently added to or reduced their stakes in FSLR. Principal Securities Inc. bought a new position in First Solar during the 4th quarter worth approximately $69,000. Janney Montgomery Scott LLC grew its position in shares of First Solar by 1,176.5% during the 4th quarter. Janney Montgomery Scott LLC now owns 16,875 shares of the solar cell manufacturer’s stock worth $2,907,000 after buying an additional 15,553 shares during the period. Robeco Institutional Asset Management B.V. grew its position in shares of First Solar by 33.8% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 12,826 shares of the solar cell manufacturer’s stock worth $2,210,000 after buying an additional 3,239 shares during the period. Brown Advisory Inc. grew its position in shares of First Solar by 26.6% during the 4th quarter. Brown Advisory Inc. now owns 3,173 shares of the solar cell manufacturer’s stock worth $547,000 after buying an additional 666 shares during the period. Finally, Norges Bank acquired a new stake in shares of First Solar during the 4th quarter worth approximately $298,123,000. Institutional investors own 92.08% of the company’s stock.

Insider Transactions at First Solar

In other news, insider Patrick James Buehler sold 8,619 shares of First Solar stock in a transaction on 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 sale, the insider now directly owns 3,468 shares in the company, valued at approximately $769,896. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Patrick James Buehler sold 8,619 shares of the business’s stock in a transaction dated 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 in the company, valued at approximately $769,896. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Byron Michael Jeffers sold 500 shares of the business’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $220.00, for a total value of $110,000.00. The disclosure for this sale can be found here. Insiders have sold 10,885 shares of company stock worth $2,405,757 in the last ninety days. Company insiders own 0.58% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on FSLR shares. 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 price objective for the company. The Goldman Sachs Group raised their price objective on shares of First Solar from $268.00 to $302.00 and gave the stock a “buy” rating in a research report on Tuesday, June 4th. Robert W. Baird reduced their price objective on shares of First Solar from $344.00 to $307.00 and set an “outperform” rating for the company in a research report on Tuesday, July 2nd. DZ Bank raised shares of First Solar from a “hold” rating to a “buy” rating and set a $280.00 price target for the company in a research report on Thursday, August 1st. Finally, UBS Group lifted their price target on shares of First Solar from $350.00 to $360.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Five research analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $283.46.

First Solar Trading Up 0.8 %

NASDAQ FSLR opened at $241.81 on Thursday. The stock has a market capitalization of $25.88 billion, a price-to-earnings ratio of 25.35, a PEG ratio of 0.40 and a beta of 1.44. First Solar, Inc. has a one year low of $129.21 and a one year high of $306.77. 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 business’s fifty day moving average is $221.49 and its 200-day moving average is $211.71.

First Solar (NASDAQ:FSLR) last released its earnings results on Tuesday, July 30th. The solar cell manufacturer reported $3.25 EPS for the quarter, topping analysts’ consensus estimates of $2.69 by $0.56. The company had revenue of $1.01 billion for the quarter, compared to analysts’ expectations of $939.71 million. First Solar had a return on equity of 17.73% and a net margin of 31.98%. The business’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 business posted $1.85 EPS. Equities research analysts predict that First Solar, Inc. will post 13.6 EPS for the current year.

First Solar 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.