100,000 Shares in First Solar, Inc. $FSLR Bought by Bornite Capital Management LP

Bornite Capital Management LP acquired a new position in shares of First Solar, Inc. (NASDAQ:FSLR) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 100,000 shares of the solar cell manufacturer’s stock, valued at approximately $22,053,000. First Solar accounts for about 2.0% of Bornite Capital Management LP’s holdings, making the stock its 21st largest holding. Bornite Capital Management LP owned about 0.09% of First Solar at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of FSLR. Norges Bank acquired a new position in First Solar during the second quarter worth $212,621,000. Viking Global Investors LP boosted its stake in shares of First Solar by 60.6% during the 2nd quarter. Viking Global Investors LP now owns 2,266,050 shares of the solar cell manufacturer’s stock worth $375,122,000 after buying an additional 854,919 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of First Solar by 3.5% in the 3rd quarter. Vanguard Group Inc. now owns 13,721,979 shares of the solar cell manufacturer’s stock valued at $3,026,108,000 after acquiring an additional 464,130 shares in the last quarter. Atreides Management LP bought a new position in First Solar in the second quarter valued at approximately $65,134,000. Finally, Ariel Investments LLC bought a new stake in shares of First Solar during the 2nd quarter worth approximately $50,869,000. Institutional investors own 92.08% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. Wall Street Zen raised shares of First Solar from a “hold” rating to a “buy” rating in a research report on Saturday, November 8th. Weiss Ratings reissued a “hold (c+)” rating on shares of First Solar in a report on Monday, December 29th. UBS Group upped their price objective on shares of First Solar from $275.00 to $330.00 and gave the company a “buy” rating in a report on Monday, November 3rd. Royal Bank Of Canada raised their target price on shares of First Solar from $244.00 to $258.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 20th. Finally, Daiwa Securities Group raised their price objective on shares of First Solar from $215.00 to $284.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 9th. One analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $275.61.

First Solar Price Performance

Shares of FSLR stock opened at $238.57 on Thursday. The business has a fifty day simple moving average of $247.08 and a 200 day simple moving average of $234.41. The company has a market cap of $25.60 billion, a P/E ratio of 18.32, a P/E/G ratio of 0.29 and a beta of 1.60. The company has a quick ratio of 1.55, a current ratio of 1.91 and a debt-to-equity ratio of 0.03. First Solar, Inc. has a twelve month low of $116.56 and a twelve month high of $285.99.

About First Solar

First Solar, Inc (NASDAQ: FSLR) is a United States–based solar technology company best known for designing and manufacturing thin?film photovoltaic (PV) modules that use cadmium telluride (CdTe) semiconductor technology. The company supplies PV modules and delivers integrated solar power solutions for utility?scale projects, positioning itself as a provider of both components and complete solar energy systems rather than solely a parts supplier. First Solar was founded in 1999 and is headquartered in Tempe, Arizona.

Beyond module manufacturing, First Solar offers a range of project services including development support, engineering, procurement and construction (EPC) services, and operations and maintenance (O&M) for large-scale solar installations.