Rafferty Asset Management LLC bought a new position in First Solar, Inc. (NASDAQ:FSLR) during the second quarter, according to its most recent Form 13F filing with the SEC. The firm bought 21,866 shares of the solar cell manufacturer’s stock, valued at approximately $872,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in FSLR. BlackRock Inc. lifted its stake in First Solar by 7,977.6% in the 1st quarter. BlackRock Inc. now owns 6,922,544 shares of the solar cell manufacturer’s stock worth $187,601,000 after purchasing an additional 6,836,843 shares in the last quarter. Schroder Investment Management Group lifted its stake in First Solar by 12,600.7% in the 2nd quarter. Schroder Investment Management Group now owns 1,679,286 shares of the solar cell manufacturer’s stock worth $67,306,000 after purchasing an additional 1,666,064 shares in the last quarter. Wellington Management Group LLP lifted its stake in First Solar by 28.8% in the 1st quarter. Wellington Management Group LLP now owns 3,038,924 shares of the solar cell manufacturer’s stock worth $82,356,000 after purchasing an additional 679,898 shares in the last quarter. State Treasurer State of Michigan lifted its stake in First Solar by 99.1% in the 2nd quarter. State Treasurer State of Michigan now owns 754,373 shares of the solar cell manufacturer’s stock worth $30,084,000 after purchasing an additional 375,500 shares in the last quarter. Finally, Delta Lloyd Asset Management N.V. purchased a new position in First Solar in the 2nd quarter worth approximately $12,647,000. 53.08% of the stock is currently owned by institutional investors and hedge funds.

First Solar, Inc. (NASDAQ:FSLR) opened at 51.41 on Monday. The firm has a 50 day moving average of $47.85 and a 200 day moving average of $38.35. The firm’s market cap is $5.37 billion. First Solar, Inc. has a 1-year low of $25.56 and a 1-year high of $53.00.

First Solar (NASDAQ:FSLR) last issued its earnings results on Thursday, July 27th. The solar cell manufacturer reported $0.64 EPS for the quarter, beating the Zacks’ consensus estimate of $0.04 by $0.60. First Solar had a negative net margin of 18.80% and a positive return on equity of 6.43%. The business had revenue of $623.00 million for the quarter, compared to the consensus estimate of $591.55 million. During the same quarter last year, the firm posted $0.87 EPS. The business’s revenue for the quarter was down 38.7% compared to the same quarter last year. On average, equities research analysts expect that First Solar, Inc. will post $2.11 EPS for the current year.

A number of research firms have weighed in on FSLR. Axiom Securities reissued a “buy” rating on shares of First Solar in a research note on Thursday, August 10th. Vetr lowered shares of First Solar from a “hold” rating to a “sell” rating and set a $49.20 target price on the stock. in a research note on Monday. JMP Securities set a $67.00 target price on shares of First Solar and gave the stock a “buy” rating in a research note on Wednesday, August 16th. ValuEngine raised shares of First Solar from a “hold” rating to a “buy” rating in a research note on Friday, August 11th. Finally, BidaskClub lowered shares of First Solar from a “strong-buy” rating to a “buy” rating in a research note on Thursday, August 3rd. Two investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and eleven have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $45.58.

In other news, CFO Alexander R. Bradley sold 566 shares of the firm’s stock in a transaction on Tuesday, August 8th. The shares were sold at an average price of $48.66, for a total value of $27,541.56. Following the transaction, the chief financial officer now owns 963 shares of the company’s stock, valued at approximately $46,859.58. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Mark R. Widmar sold 43,189 shares of the firm’s stock in a transaction on Monday, July 31st. The shares were sold at an average price of $48.55, for a total transaction of $2,096,825.95. Following the completion of the transaction, the chief executive officer now directly owns 107,454 shares in the company, valued at approximately $5,216,891.70. The disclosure for this sale can be found here. In the last three months, insiders sold 94,674 shares of company stock worth $4,655,846. Insiders own 0.58% of the company’s stock.

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First Solar 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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