Sandy Spring Bank lifted its holdings in First Solar, Inc. (NASDAQ:FSLR) by 135.0% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 23,919 shares of the solar cell manufacturer’s stock after acquiring an additional 13,739 shares during the period. Sandy Spring Bank’s holdings in First Solar were worth $1,583,000 as of its most recent filing with the SEC.
Other hedge funds have also added to or reduced their stakes in the company. FMR LLC lifted its stake in First Solar by 10,102.9% during the 1st quarter. FMR LLC now owns 97,744 shares of the solar cell manufacturer’s stock valued at $5,164,000 after acquiring an additional 96,786 shares in the last quarter. First Trust Advisors LP grew its holdings in shares of First Solar by 116.1% during the second quarter. First Trust Advisors LP now owns 280,921 shares of the solar cell manufacturer’s stock worth $13,906,000 after purchasing an additional 150,924 shares in the last quarter. XTX Markets LLC purchased a new position in shares of First Solar during the second quarter worth about $332,000. Retirement Systems of Alabama grew its holdings in shares of First Solar by 0.3% during the second quarter. Retirement Systems of Alabama now owns 237,000 shares of the solar cell manufacturer’s stock worth $11,732,000 after purchasing an additional 675 shares in the last quarter. Finally, Janney Montgomery Scott LLC boosted its stake in First Solar by 46.7% in the second quarter. Janney Montgomery Scott LLC now owns 12,747 shares of the solar cell manufacturer’s stock worth $631,000 after buying an additional 4,055 shares in the last quarter. Institutional investors and hedge funds own 60.90% of the company’s stock.
In related news, major shareholder Lukas T. Walton sold 2,500,000 shares of the firm’s stock in a transaction that occurred on Friday, October 30th. The stock was sold at an average price of $80.00, for a total transaction of $200,000,000.00. Following the completion of the sale, the insider now directly owns 11,341,358 shares of the company’s stock, valued at approximately $907,308,640. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Lukas T. Walton sold 8,649,074 shares of the firm’s stock in a transaction that occurred on Monday, September 21st. The stock was sold at an average price of $68.50, for a total value of $592,461,569.00. Following the sale, the insider now directly owns 13,841,358 shares of the company’s stock, valued at $948,133,023. The disclosure for this sale can be found here. In the last quarter, insiders sold 11,158,430 shares of company stock valued at $793,298,402. Company insiders own 0.54% of the company’s stock.
Shares of NASDAQ FSLR traded up $0.49 during trading on Tuesday, reaching $80.70. The company had a trading volume of 21,455 shares, compared to its average volume of 2,037,184. First Solar, Inc. has a 12-month low of $28.47 and a 12-month high of $97.93. The stock has a market cap of $8.50 billion, a PE ratio of 38.38, a P/E/G ratio of 1.16 and a beta of 1.28. The business’s 50-day moving average is $80.49 and its 200 day moving average is $63.64. The company has a quick ratio of 3.05, a current ratio of 3.83 and a debt-to-equity ratio of 0.04.
First Solar (NASDAQ:FSLR) last released its earnings results on Tuesday, October 27th. The solar cell manufacturer reported $1.45 EPS for the quarter, topping analysts’ consensus estimates of $0.60 by $0.85. First Solar had a return on equity of 9.49% and a net margin of 6.38%. On average, analysts anticipate that First Solar, Inc. will post 3.91 earnings per share for the current year.
Several analysts have issued reports on FSLR shares. Credit Suisse Group lowered First Solar from a “neutral” rating to an “underperform” rating and upped their target price for the stock from $54.00 to $64.00 in a research note on Monday, October 26th. 140166 started coverage on First Solar in a research note on Thursday, October 15th. They issued a “neutral” rating and a $90.00 target price for the company. JPMorgan Chase & Co. lowered First Solar from an “overweight” rating to a “neutral” rating and set a $94.00 target price for the company. in a research note on Thursday, October 29th. TheStreet raised First Solar from a “c+” rating to a “b-” rating in a research note on Monday, October 19th. Finally, JMP Securities boosted their price objective on First Solar from $91.00 to $100.00 and gave the company an “outperform” rating in a research report on Tuesday, October 20th. They noted that the move was a valuation call. Six analysts have rated the stock with a sell rating, five have assigned a hold rating and eight have issued a buy rating to the company’s stock. First Solar presently has an average rating of “Hold” and a consensus target price of $80.47.
First Solar Profile
First Solar, Inc provides photovoltaic (PV) solar energy solutions in the United States and internationally. It operates in two segments, Modules and Systems. The Modules segment designs, manufactures, and sells cadmium telluride solar modules that convert sunlight into electricity to integrators and operators of PV solar power systems.
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