First Solar, Inc. (NASDAQ:FSLR) Shares Bought by QRG Capital Management Inc.

QRG Capital Management Inc. boosted its position in shares of First Solar, Inc. (NASDAQ:FSLR) by 29.2% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 2,307 shares of the solar cell manufacturer’s stock after acquiring an additional 522 shares during the quarter. QRG Capital Management Inc.’s holdings in First Solar were worth $576,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. AlphaMark Advisors LLC acquired a new stake in First Solar during the 3rd quarter worth about $25,000. Atlas Capital Advisors LLC lifted its position in First Solar by 411.1% during the 2nd 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. Summit Securities Group LLC acquired a new position in shares of First Solar in the 2nd quarter valued at about $36,000. Itau Unibanco Holding S.A. acquired a new position in shares of First Solar in the 2nd quarter valued at about $38,000. Finally, Alta Advisers Ltd acquired a new position in shares of First Solar in the 2nd quarter valued at about $45,000. Institutional investors and hedge funds own 92.08% of the company’s stock.

First Solar Price Performance

NASDAQ:FSLR opened at $193.93 on Friday. First Solar, Inc. has a 12 month low of $129.21 and a 12 month high of $306.77. The stock has a 50 day moving average of $218.98 and a two-hundred day moving average of $225.18. The company has a current ratio of 2.14, a quick ratio of 1.44 and a debt-to-equity ratio of 0.05. The firm has a market cap of $20.76 billion, a P/E ratio of 16.70, a price-to-earnings-growth ratio of 0.34 and a beta of 1.48.

First Solar (NASDAQ:FSLR) last posted its quarterly earnings results on Tuesday, October 29th. The solar cell manufacturer reported $2.91 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.10 by ($0.19). The company had revenue of $887.70 million during the quarter, compared to analysts’ expectations of $1.07 billion. First Solar had a net margin of 32.41% and a return on equity of 17.56%. First Solar’s revenue for the quarter was up 10.7% on a year-over-year basis. During the same quarter last year, the company earned $2.50 earnings per share. On average, analysts expect that First Solar, Inc. will post 13.16 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on FSLR. Citigroup raised First Solar from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $200.00 to $254.00 in a report on Tuesday, October 22nd. Morgan Stanley decreased their price objective on First Solar from $329.00 to $297.00 and set an “overweight” rating for the company in a report on Wednesday, October 30th. Guggenheim decreased their price objective on First Solar from $368.00 to $335.00 and set a “buy” rating for the company in a report on Wednesday, October 30th. Barclays boosted their price objective on First Solar from $280.00 to $290.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. Finally, Hsbc Global Res raised First Solar to a “strong-buy” rating in a report on Wednesday, October 9th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $281.13.

Insider Activity

In other news, insider Patrick James Buehler sold 8,619 shares of the company’s stock in a transaction that occurred on 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 completion of the sale, the insider now directly owns 3,468 shares in the company, valued at $769,896. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, CAO Byron Michael Jeffers sold 500 shares of the stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $220.00, for a total value of $110,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Patrick James Buehler sold 8,619 shares of the firm’s stock in a transaction on 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 of the company’s stock, valued at approximately $769,896. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.58% of the company’s stock.

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.