Apollon Wealth Management LLC boosted its holdings in shares of First Solar, Inc. (NASDAQ:FSLR – Get Rating) by 20.0% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 3,001 shares of the solar cell manufacturer's stock after purchasing an additional 500 shares during the period. Apollon Wealth Management LLC's holdings in First Solar were worth $204,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently bought and sold shares of FSLR. Deutsche Bank AG boosted its holdings in shares of First Solar by 28.9% in the second quarter. Deutsche Bank AG now owns 573,514 shares of the solar cell manufacturer's stock valued at $39,072,000 after acquiring an additional 128,432 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in shares of First Solar by 31.9% in the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 268,418 shares of the solar cell manufacturer's stock valued at $18,287,000 after acquiring an additional 64,865 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of First Solar by 4.0% in the second quarter. JPMorgan Chase & Co. now owns 246,274 shares of the solar cell manufacturer's stock valued at $16,778,000 after acquiring an additional 9,471 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in shares of First Solar by 16.1% in the second quarter. Principal Financial Group Inc. now owns 391,042 shares of the solar cell manufacturer's stock valued at $26,642,000 after acquiring an additional 54,091 shares in the last quarter. Finally, Inspire Investing LLC boosted its holdings in shares of First Solar by 9.4% in the second quarter. Inspire Investing LLC now owns 3,747 shares of the solar cell manufacturer's stock valued at $255,000 after acquiring an additional 323 shares in the last quarter. 79.21% of the stock is owned by hedge funds and other institutional investors.
Get First Solar alerts:Analyst Ratings Changes
Several analysts have recently weighed in on the stock. Robert W. Baird lifted their target price on shares of First Solar from $164.00 to $180.00 in a report on Friday, October 28th. Barclays upgraded shares of First Solar from an "underweight" rating to an "equal weight" rating and raised their price objective for the company from $89.00 to $162.00 in a research note on Tuesday, November 1st. Cowen raised their price objective on shares of First Solar from $167.00 to $175.00 in a research note on Friday, October 28th. KeyCorp raised their price objective on shares of First Solar from $145.00 to $175.00 and gave the company an "overweight" rating in a research note on Monday, November 7th. Finally, Susquehanna raised their price objective on shares of First Solar from $120.00 to $175.00 and gave the company a "positive" rating in a research note on Friday, September 9th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have given a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $161.96.
First Solar Trading Up 1.2 %
FSLR opened at $171.43 on Friday. The stock has a market capitalization of $18.28 billion, a PE ratio of 194.81 and a beta of 1.26. The firm's fifty day moving average price is $140.92 and its 200 day moving average price is $106.52. The company has a debt-to-equity ratio of 0.04, a current ratio of 4.09 and a quick ratio of 3.10. First Solar, Inc. has a 12-month low of $59.60 and a 12-month high of $173.21.First Solar (NASDAQ:FSLR – Get Rating) last issued its earnings results on Thursday, October 27th. The solar cell manufacturer reported ($0.46) earnings per share for the quarter, missing analysts' consensus estimates of ($0.16) by ($0.30). The business had revenue of $629.00 million for the quarter, compared to analyst estimates of $747.97 million. First Solar had a return on equity of 1.61% and a net margin of 3.75%. The firm's revenue for the quarter was up 7.8% on a year-over-year basis. During the same period last year, the company posted $0.42 earnings per share. As a group, research analysts expect that First Solar, Inc. will post -0.51 EPS for the current fiscal year.
Insider Transactions at First Solar
In related news, Director R Craig Kennedy sold 600 shares of the stock in a transaction dated Monday, October 17th. The shares were sold at an average price of $125.68, for a total value of $75,408.00. Following the completion of the transaction, the director now owns 18,888 shares in the company, valued at approximately $2,373,843.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.54% of the company's stock.
First Solar Profile
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First Solar, Inc provides photovoltaic (PV) solar energy solutions in the United State, Japan, France, Canada, India, Australia, and internationally. The company designs, manufactures, and sells cadmium telluride solar modules that converts sunlight into electricity. It serves developers and operators of systems, utilities, independent power producers, commercial and industrial companies, and other system owners.
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