First Solar, Inc. (NASDAQ:FSLR) Shares Bought by IFM Investors Pty Ltd

IFM Investors Pty Ltd grew its stake in First Solar, Inc. (NASDAQ:FSLR) by 4.1% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 21,094 shares of the solar cell manufacturer’s stock after purchasing an additional 825 shares during the period. IFM Investors Pty Ltd’s holdings in First Solar were worth $3,561,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Dixon Mitchell Investment Counsel Inc. acquired a new position in First Solar in the first quarter valued at $25,000. First Pacific Financial acquired a new stake in shares of First Solar in the 3rd quarter valued at about $27,000. University of Texas Texas AM Investment Managment Co. purchased a new position in First Solar during the 4th quarter worth approximately $27,000. Estabrook Capital Management acquired a new position in First Solar during the third quarter worth approximately $29,000. Finally, Baystate Wealth Management LLC purchased a new stake in First Solar in the fourth quarter valued at approximately $29,000. 92.08% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at First Solar

In other First Solar news, insider Kuntal Kumar Verma sold 250 shares of the firm’s stock in a transaction on Monday, March 18th. The stock was sold at an average price of $148.34, for a total transaction of $37,085.00. Following the completion of the transaction, the insider now owns 5,170 shares of the company’s stock, valued at $766,917.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Kuntal Kumar Verma sold 250 shares of the company’s stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $148.34, for a total transaction of $37,085.00. Following the transaction, the insider now owns 5,170 shares of the company’s stock, valued at $766,917.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Georges Antoun sold 2,400 shares of First Solar stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of $176.00, for a total transaction of $422,400.00. Following the completion of the sale, the insider now directly owns 37,412 shares of the company’s stock, valued at $6,584,512. The disclosure for this sale can be found here. In the last three months, insiders have sold 26,620 shares of company stock valued at $4,269,540. Insiders own 0.58% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on FSLR. DZ Bank began coverage on shares of First Solar in a research report on Wednesday, April 17th. They set a “buy” rating and a $205.00 target price on the stock. Janney Montgomery Scott started coverage on shares of First Solar in a research report on Friday, April 12th. They set a “buy” rating and a $236.00 price objective on the stock. Wells Fargo & Company raised shares of First Solar from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $187.00 to $250.00 in a report on Friday, April 19th. Oppenheimer reissued an “outperform” rating and set a $269.00 price target on shares of First Solar in a report on Wednesday, April 17th. Finally, Roth Mkm restated a “buy” rating and issued a $230.00 price target on shares of First Solar in a research report on Thursday, April 18th. Three equities research analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $231.36.

First Solar Price Performance

Shares of FSLR traded up $3.71 on Friday, reaching $178.73. The stock had a trading volume of 1,339,017 shares, compared to its average volume of 1,987,694. First Solar, Inc. has a twelve month low of $129.21 and a twelve month high of $232.00. The firm has a market capitalization of $19.13 billion, a PE ratio of 23.09, a PEG ratio of 0.30 and a beta of 1.41. The firm has a 50-day moving average of $163.40 and a 200 day moving average of $157.20. The company has a quick ratio of 2.92, a current ratio of 3.55 and a debt-to-equity ratio of 0.07.

First Solar (NASDAQ:FSLR) last posted its earnings results on Tuesday, February 27th. The solar cell manufacturer reported $3.25 earnings per share for the quarter, beating the consensus estimate of $3.19 by $0.06. First Solar had a return on equity of 13.80% and a net margin of 25.03%. The company had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.31 billion. During the same quarter in the prior year, the company earned ($0.07) earnings per share. First Solar’s revenue was up 15.5% compared to the same quarter last year. Sell-side analysts expect that First Solar, Inc. will post 13.55 EPS for the current year.

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.