Legal & General Group Plc lifted its holdings in First Solar, Inc. (NASDAQ:FSLR) by 9.4% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 119,513 shares of the solar cell manufacturer’s stock after purchasing an additional 10,295 shares during the period. Legal & General Group Plc owned approximately 0.11% of First Solar worth $5,485,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the stock. AGF Investments Inc. grew its holdings in shares of First Solar by 77.4% in the third quarter. AGF Investments Inc. now owns 11,358 shares of the solar cell manufacturer’s stock valued at $521,000 after purchasing an additional 4,955 shares in the last quarter. AGF Investments America Inc. grew its holdings in shares of First Solar by 69.8% in the third quarter. AGF Investments America Inc. now owns 60,371 shares of the solar cell manufacturer’s stock valued at $2,770,000 after purchasing an additional 24,819 shares in the last quarter. Teachers Retirement System of The State of Kentucky grew its holdings in shares of First Solar by 24.8% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 15,600 shares of the solar cell manufacturer’s stock valued at $716,000 after purchasing an additional 3,100 shares in the last quarter. LMR Partners LLP acquired a new position in shares of First Solar in the third quarter valued at approximately $532,000. Finally, American International Group Inc. grew its holdings in shares of First Solar by 4.1% in the third quarter. American International Group Inc. now owns 166,620 shares of the solar cell manufacturer’s stock valued at $7,645,000 after purchasing an additional 6,610 shares in the last quarter. Hedge funds and other institutional investors own 51.21% of the company’s stock.

A number of research analysts recently weighed in on the stock. Cowen restated a “buy” rating and issued a $57.00 price objective on shares of First Solar in a report on Sunday, September 3rd. Roth Capital restated a “buy” rating and issued a $60.00 price objective on shares of First Solar in a report on Tuesday, September 26th. Robert W. Baird restated a “hold” rating and issued a $53.00 price objective on shares of First Solar in a report on Friday, October 27th. Needham & Company LLC restated a “buy” rating and issued a $65.00 price objective on shares of First Solar in a report on Friday, December 1st. Finally, JMP Securities restated an “outperform” rating and issued a $50.00 price objective (down previously from $67.00) on shares of First Solar in a report on Tuesday, September 26th. Eleven analysts have rated the stock with a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $61.47.

First Solar, Inc. (NASDAQ FSLR) opened at $68.96 on Monday. The company has a current ratio of 6.85, a quick ratio of 6.47 and a debt-to-equity ratio of 0.06. First Solar, Inc. has a twelve month low of $25.56 and a twelve month high of $71.80. The company has a market cap of $7,201.70, a P/E ratio of 16.90 and a beta of 2.03.

First Solar (NASDAQ:FSLR) last posted its quarterly earnings results on Thursday, October 26th. The solar cell manufacturer reported $1.95 EPS for the quarter, topping the consensus estimate of $0.84 by $1.11. First Solar had a negative net margin of 14.70% and a positive return on equity of 8.07%. The company had revenue of $1.09 billion during the quarter, compared to analysts’ expectations of $859.22 million. During the same quarter in the previous year, the business posted $1.22 EPS. The firm’s revenue was up 59.5% on a year-over-year basis. equities analysts forecast that First Solar, Inc. will post 2.52 earnings per share for the current fiscal year.

In other news, CEO Mark R. Widmar sold 20,270 shares of the business’s stock in a transaction that occurred on Thursday, December 7th. The shares were sold at an average price of $64.40, for a total transaction of $1,305,388.00. Following the completion of the sale, the chief executive officer now owns 100,754 shares in the company, valued at approximately $6,488,557.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.58% of the stock is currently owned by insiders.

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First Solar Company Profile

First Solar, Inc is a provider of photovoltaic (PV) solar energy solutions. The Company designs, manufactures and sells PV solar modules with a thin-film semiconductor technology. The Company also develops, designs, constructs and sells PV solar power systems that primarily use the modules it manufactures.

Institutional Ownership by Quarter for First Solar (NASDAQ:FSLR)

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