Legend Financial Advisors Inc. acquired a new stake in shares of First Solar, Inc. (NASDAQ:FSLR – Free Report) during the 1st quarter, Holdings Channel.com reports. The institutional investor acquired 4,495 shares of the solar cell manufacturer’s stock, valued at approximately $759,000. First Solar accounts for about 0.5% of Legend Financial Advisors Inc.’s portfolio, making the stock its 23rd largest holding.
Other institutional investors have also recently modified their holdings of the company. Norges Bank bought a new position in First Solar during the 4th quarter worth approximately $298,123,000. Schroder Investment Management Group grew its position in shares of First Solar by 16.7% in the 4th quarter. Schroder Investment Management Group now owns 2,454,499 shares of the solar cell manufacturer’s stock worth $422,861,000 after buying an additional 351,540 shares during the last quarter. Assenagon Asset Management S.A. grew its position in shares of First Solar by 504.1% in the 4th quarter. Assenagon Asset Management S.A. now owns 399,650 shares of the solar cell manufacturer’s stock worth $68,852,000 after buying an additional 333,496 shares during the last quarter. Vanguard Group Inc. grew its position in shares of First Solar by 2.4% in the 3rd quarter. Vanguard Group Inc. now owns 12,040,031 shares of the solar cell manufacturer’s stock worth $1,945,549,000 after buying an additional 279,424 shares during the last quarter. Finally, Wellington Management Group LLP grew its position in shares of First Solar by 10.2% in the 3rd quarter. Wellington Management Group LLP now owns 2,283,705 shares of the solar cell manufacturer’s stock worth $369,024,000 after buying an additional 211,755 shares during the last quarter. 92.08% of the stock is currently owned by institutional investors.
First Solar Price Performance
Shares of First Solar stock traded down $24.46 on Friday, hitting $225.46. The company’s stock had a trading volume of 6,087,910 shares, compared to its average volume of 2,946,899. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.86 and a current ratio of 2.41. The firm has a fifty day moving average price of $232.57 and a 200-day moving average price of $185.22. The company has a market capitalization of $24.13 billion, a price-to-earnings ratio of 23.63, a price-to-earnings-growth ratio of 0.30 and a beta of 1.48. First Solar, Inc. has a 1 year low of $129.21 and a 1 year high of $306.77.
Insider Activity at First Solar
In other First Solar news, insider Georges Antoun sold 2,400 shares of the company’s stock in a transaction on Thursday, April 4th. The stock was sold at an average price of $176.00, for a total transaction of $422,400.00. Following the transaction, the insider now directly owns 37,412 shares in the company, valued at $6,584,512. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CFO Alexander R. Bradley sold 16,051 shares of the stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $274.69, for a total transaction of $4,409,049.19. Following the completion of the sale, the chief financial officer now owns 30,652 shares in the company, valued at $8,419,797.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Georges Antoun sold 2,400 shares of the firm’s stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $176.00, for a total transaction of $422,400.00. Following the completion of the sale, the insider now owns 37,412 shares of the company’s stock, valued at approximately $6,584,512. The disclosure for this sale can be found here. Over the last three months, insiders have sold 57,890 shares of company stock worth $13,709,131. Insiders own 0.58% of the company’s stock.
Analysts Set New Price Targets
A number of equities research analysts have recently weighed in on FSLR shares. Jefferies Financial Group lifted their price objective on First Solar from $209.50 to $211.00 and gave the stock a “buy” rating in a research report on Thursday, May 2nd. Barclays lifted their price objective on First Solar from $227.00 to $228.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 15th. Roth Mkm reiterated a “buy” rating and issued a $320.00 price objective (up from $230.00) on shares of First Solar in a research report on Friday, May 31st. Guggenheim cut their price objective on First Solar from $359.00 to $356.00 and set a “buy” rating on the stock in a research report on Thursday, May 2nd. Finally, JPMorgan Chase & Co. raised their target price on First Solar from $240.00 to $262.00 and gave the company an “overweight” rating in a research note on Thursday, May 23rd. Five research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $267.52.
Check Out Our Latest Report on FSLR
First Solar Profile
First Solar, Inc, a solar technology company, provides photovoltaic (PV) solar energy solutions in the United States, France, Japan, Chile, and internationally. The company manufactures and sells PV solar modules with a thin film semiconductor technology that provides a lower-carbon alternative to conventional crystalline silicon PV solar modules.
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