Zacks Investment Management purchased a new position in First Solar, Inc. (NASDAQ:FSLR) during the fourth quarter, HoldingsChannel.com reports. The firm purchased 10,010 shares of the solar cell manufacturer’s stock, valued at approximately $425,000.

A number of other institutional investors and hedge funds also recently modified their holdings of FSLR. Cambridge Investment Research Advisors Inc. increased its stake in First Solar by 38.9% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 15,358 shares of the solar cell manufacturer’s stock worth $744,000 after purchasing an additional 4,305 shares in the last quarter. SG Americas Securities LLC increased its stake in First Solar by 38.9% in the 3rd quarter. SG Americas Securities LLC now owns 54,913 shares of the solar cell manufacturer’s stock worth $2,659,000 after purchasing an additional 15,391 shares in the last quarter. MML Investors Services LLC increased its stake in First Solar by 30.1% in the 3rd quarter. MML Investors Services LLC now owns 6,491 shares of the solar cell manufacturer’s stock worth $314,000 after purchasing an additional 1,501 shares in the last quarter. Commonwealth Bank of Australia increased its stake in First Solar by 47.4% in the 3rd quarter. Commonwealth Bank of Australia now owns 12,600 shares of the solar cell manufacturer’s stock worth $609,000 after purchasing an additional 4,050 shares in the last quarter. Finally, Ffcm LLC increased its stake in First Solar by 1,217.6% in the 3rd quarter. Ffcm LLC now owns 9,039 shares of the solar cell manufacturer’s stock worth $194,000 after purchasing an additional 8,353 shares in the last quarter. 60.89% of the stock is currently owned by hedge funds and other institutional investors.

A number of equities analysts recently weighed in on the company. Bank of America reissued a “buy” rating and issued a $60.00 price target on shares of First Solar in a research note on Tuesday, February 26th. JPMorgan Chase & Co. dropped their price target on First Solar to $70.00 and set an “overweight” rating on the stock in a research note on Friday, February 22nd. Zacks Investment Research cut First Solar from a “hold” rating to a “sell” rating in a research note on Friday, February 22nd. Roth Capital dropped their price target on First Solar to $60.00 and set a “buy” rating on the stock in a research note on Friday, February 15th. Finally, BidaskClub cut First Solar from a “hold” rating to a “sell” rating in a research note on Saturday, February 9th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and twelve have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $63.40.

NASDAQ:FSLR traded down $0.08 on Tuesday, hitting $51.64. 18,046 shares of the company’s stock traded hands, compared to its average volume of 1,515,912. The company has a debt-to-equity ratio of 0.09, a current ratio of 4.57 and a quick ratio of 4.11. First Solar, Inc. has a 1 year low of $36.51 and a 1 year high of $81.72. The stock has a market cap of $5.42 billion, a PE ratio of 37.85, a price-to-earnings-growth ratio of 1.53 and a beta of 1.27.

First Solar (NASDAQ:FSLR) last released its earnings results on Thursday, February 21st. The solar cell manufacturer reported $0.49 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.64 by ($0.15). First Solar had a net margin of 6.43% and a return on equity of 2.80%. The business had revenue of $691.00 million for the quarter, compared to analysts’ expectations of $812.52 million. During the same period last year, the firm earned ($0.25) EPS. The company’s revenue was up 103.8% compared to the same quarter last year. On average, equities research analysts anticipate that First Solar, Inc. will post 2.48 earnings per share for the current year.

In other First Solar news, CFO Alexander R. Bradley sold 6,427 shares of First Solar stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $53.65, for a total transaction of $344,808.55. Following the transaction, the chief financial officer now owns 6,427 shares of the company’s stock, valued at approximately $344,808.55. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Alexander R. Bradley sold 1,254 shares of First Solar stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $51.30, for a total value of $64,330.20. Following the transaction, the chief financial officer now directly owns 8,887 shares in the company, valued at approximately $455,903.10. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 8,662 shares of company stock worth $458,862. Company insiders own 0.54% of the company’s stock.

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About First Solar

First Solar, Inc provides photovoltaic (PV) solar energy solutions in the United States and internationally. It operates in two segments, Modules and Systems. The Components segment designs, manufactures, and sells cadmium telluride solar modules that convert sunlight into electricity. This segment offers its products to integrators and operators of PV solar power systems.

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

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