Mivtachim The Workers Social Insurance Fund Ltd. Under Special Management Acquires New Stake in First Solar, Inc. $FSLR

Mivtachim The Workers Social Insurance Fund Ltd. Under Special Management acquired a new stake in shares of First Solar, Inc. (NASDAQ:FSLR) in the 3rd quarter, HoldingsChannel.com reports. The fund acquired 29,000 shares of the solar cell manufacturer’s stock, valued at approximately $6,395,000. First Solar accounts for approximately 0.9% of Mivtachim The Workers Social Insurance Fund Ltd. Under Special Management’s investment portfolio, making the stock its 25th largest position.

A number of other large investors have also recently added to or reduced their stakes in FSLR. Woodline Partners LP raised its holdings in shares of First Solar by 40.7% during the first quarter. Woodline Partners LP now owns 9,044 shares of the solar cell manufacturer’s stock valued at $1,143,000 after acquiring an additional 2,615 shares during the period. Sequoia Financial Advisors LLC purchased a new position in First Solar during the 2nd quarter worth approximately $327,000. Envestnet Portfolio Solutions Inc. raised its stake in First Solar by 6.3% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 1,877 shares of the solar cell manufacturer’s stock valued at $311,000 after purchasing an additional 111 shares during the period. Nordea Investment Management AB lifted its holdings in shares of First Solar by 7.9% in the second quarter. Nordea Investment Management AB now owns 7,929 shares of the solar cell manufacturer’s stock valued at $1,313,000 after purchasing an additional 579 shares in the last quarter. Finally, Private Trust Co. NA lifted its holdings in shares of First Solar by 2,610.0% in the second quarter. Private Trust Co. NA now owns 271 shares of the solar cell manufacturer’s stock valued at $45,000 after purchasing an additional 261 shares in the last quarter. 92.08% of the stock is currently owned by institutional investors.

First Solar Trading Down 2.2%

Shares of FSLR stock opened at $233.30 on Friday. The firm has a market capitalization of $25.04 billion, a P/E ratio of 17.92, a price-to-earnings-growth ratio of 0.31 and a beta of 1.60. First Solar, Inc. has a 1 year low of $116.56 and a 1 year high of $285.99. The firm’s fifty day simple moving average is $246.28 and its 200 day simple moving average is $234.41. The company has a current ratio of 1.91, a quick ratio of 1.55 and a debt-to-equity ratio of 0.03.

Analysts Set New Price Targets

Several analysts recently issued reports on FSLR shares. Bank of America cut their price objective on First Solar from $291.00 to $271.00 and set a “buy” rating for the company in a report on Thursday, January 22nd. JPMorgan Chase & Co. boosted their price target on First Solar from $278.00 to $303.00 and gave the company an “overweight” rating in a research note on Friday, October 31st. Mizuho dropped their price objective on First Solar from $335.00 to $326.00 and set an “outperform” rating on the stock in a report on Wednesday, February 11th. KeyCorp reaffirmed an “overweight” rating on shares of First Solar in a research report on Friday, October 31st. Finally, Seaport Research Partners increased their price objective on First Solar from $217.00 to $305.00 and gave the company a “buy” rating in a report on Tuesday, November 4th. One analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $275.61.

First Solar Profile

First Solar, Inc (NASDAQ: FSLR) is a United States–based solar technology company best known for designing and manufacturing thin‑film photovoltaic (PV) modules that use cadmium telluride (CdTe) semiconductor technology. The company supplies PV modules and delivers integrated solar power solutions for utility‑scale projects, positioning itself as a provider of both components and complete solar energy systems rather than solely a parts supplier. First Solar was founded in 1999 and is headquartered in Tempe, Arizona.

Beyond module manufacturing, First Solar offers a range of project services including development support, engineering, procurement and construction (EPC) services, and operations and maintenance (O&M) for large-scale solar installations.