Soros Fund Management LLC Buys New Position in First Solar, Inc. (NASDAQ:FSLR)

Soros Fund Management LLC bought a new position in First Solar, Inc. (NASDAQ:FSLR - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 216,642 shares of the solar cell manufacturer's stock, valued at approximately $38,181,000. Soros Fund Management LLC owned 0.20% of First Solar as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of FSLR. Whalen Wealth Management Inc. boosted its stake in shares of First Solar by 47.0% during the 4th quarter. Whalen Wealth Management Inc. now owns 4,859 shares of the solar cell manufacturer's stock worth $856,000 after acquiring an additional 1,554 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its position in First Solar by 665.8% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 39,192 shares of the solar cell manufacturer's stock worth $7,308,000 after acquiring an additional 34,074 shares during the last quarter. Paragon Capital Management Inc. acquired a new position in shares of First Solar during the 4th quarter worth about $1,240,000. Robeco Institutional Asset Management B.V. grew its holdings in First Solar by 9.0% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 595,267 shares of the solar cell manufacturer's stock valued at $104,910,000 after buying an additional 49,074 shares during the last quarter. Finally, Golden State Equity Partners increased its position in First Solar by 41,342.9% in the 4th quarter. Golden State Equity Partners now owns 2,901 shares of the solar cell manufacturer's stock worth $511,000 after buying an additional 2,894 shares during the period. Hedge funds and other institutional investors own 92.08% of the company's stock.

First Solar Trading Up 3.1 %

Shares of NASDAQ FSLR traded up $3.97 during midday trading on Friday, hitting $130.54. The stock had a trading volume of 3,393,776 shares, compared to its average volume of 2,857,118. The firm has a market cap of $14.00 billion, a P/E ratio of 11.24, a price-to-earnings-growth ratio of 0.19 and a beta of 1.48. First Solar, Inc. has a fifty-two week low of $116.56 and a fifty-two week high of $306.77. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.14 and a quick ratio of 1.44. The company's 50-day simple moving average is $131.03 and its 200 day simple moving average is $166.11.

First Solar (NASDAQ:FSLR - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The solar cell manufacturer reported $1.95 earnings per share for the quarter, missing analysts' consensus estimates of $2.50 by ($0.55). First Solar had a return on equity of 17.56% and a net margin of 32.41%. The business had revenue of $844.57 million for the quarter, compared to the consensus estimate of $863.11 million. During the same period last year, the firm earned $2.20 earnings per share. The company's quarterly revenue was up 6.4% on a year-over-year basis. Research analysts anticipate that First Solar, Inc. will post 13.05 EPS for the current year.

Insider Activity at First Solar

In other First Solar news, CFO Alexander R. Bradley sold 599 shares of First Solar stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $133.75, for a total transaction of $80,116.25. Following the transaction, the chief financial officer now directly owns 45,717 shares in the company, valued at approximately $6,114,648.75. The trade was a 1.29 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Mark R. Widmar sold 21,542 shares of the business's stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $141.09, for a total value of $3,039,360.78. Following the completion of the transaction, the chief executive officer now directly owns 103,403 shares of the company's stock, valued at approximately $14,589,129.27. The trade was a 17.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 34,311 shares of company stock worth $4,767,158 in the last ninety days. Company insiders own 0.48% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on FSLR. Jefferies Financial Group lowered First Solar from a "buy" rating to a "hold" rating and lowered their price target for the company from $202.00 to $127.00 in a research note on Wednesday. Morgan Stanley set a $223.00 price objective on First Solar and gave the company an "overweight" rating in a research report on Wednesday, April 23rd. Glj Research upgraded shares of First Solar from a "hold" rating to a "buy" rating and set a $172.37 price target on the stock in a research note on Thursday. The Goldman Sachs Group dropped their price objective on shares of First Solar from $235.00 to $204.00 and set a "buy" rating for the company in a research note on Wednesday. Finally, Guggenheim decreased their target price on shares of First Solar from $253.00 to $202.00 and set a "buy" rating on the stock in a research report on Thursday. Two analysts have rated the stock with a sell rating, five have issued a hold rating, twenty-three have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, First Solar has an average rating of "Moderate Buy" and a consensus target price of $223.87.

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.