Mivtachim The Workers Social Insurance Fund Ltd. Under Special Management Takes Position in First Solar, Inc. $FSLR

Mivtachim The Workers Social Insurance Fund Ltd. Under Special Management acquired a new stake in First Solar, Inc. (NASDAQ:FSLR) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 29,000 shares of the solar cell manufacturer’s stock, valued at approximately $6,395,000. First Solar comprises 0.9% of Mivtachim The Workers Social Insurance Fund Ltd. Under Special Management’s holdings, making the stock its 25th biggest position.

A number of other hedge funds have also modified their holdings of the business. Bornite Capital Management LP purchased a new stake in First Solar in the 3rd quarter valued at $22,053,000. CenterBook Partners LP increased its stake in First Solar by 195.3% in the third quarter. CenterBook Partners LP now owns 40,480 shares of the solar cell manufacturer’s stock valued at $8,927,000 after purchasing an additional 26,771 shares during the period. Ingalls & Snyder LLC acquired a new stake in shares of First Solar in the third quarter valued at about $208,000. NEOS Investment Management LLC grew its position in First Solar by 45.7% during the third quarter. NEOS Investment Management LLC now owns 12,410 shares of the solar cell manufacturer’s stock worth $2,737,000 after buying an additional 3,891 shares during the period. Finally, Vanguard Group Inc. raised its holdings in First Solar by 3.5% during the third quarter. Vanguard Group Inc. now owns 13,721,979 shares of the solar cell manufacturer’s stock worth $3,026,108,000 after purchasing an additional 464,130 shares during the last quarter. 92.08% of the stock is currently owned by hedge funds and other institutional investors.

First Solar Stock Performance

NASDAQ:FSLR opened at $233.30 on Friday. The firm’s fifty day simple moving average is $246.28 and its 200 day simple moving average is $234.41. The company has a current ratio of 1.91, a quick ratio of 1.55 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. The firm has a market capitalization of $25.04 billion, a price-to-earnings ratio of 17.92, a PEG ratio of 0.31 and a beta of 1.60.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on FSLR. Mizuho dropped their price target on First Solar from $335.00 to $326.00 and set an “outperform” rating for the company in a research report on Wednesday, February 11th. UBS Group raised their target price 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. DZ Bank cut shares of First Solar from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 31st. Rothschild & Co Redburn increased their price target on shares of First Solar from $150.00 to $260.00 and gave the company a “neutral” rating in a research report on Thursday, November 13th. Finally, Guggenheim upped their target price on First Solar from $289.00 to $312.00 and gave the company a “buy” rating in a research note on Thursday, January 8th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and eight have given a Hold rating to the company’s stock. According to data from MarketBeat, First Solar has a consensus rating of “Moderate Buy” and an average price target of $275.61.

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.