Premier Fund Managers Ltd raised its holdings in shares of First Solar, Inc. (NASDAQ:FSLR) by 17.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 98,925 shares of the solar cell manufacturer’s stock after acquiring an additional 14,922 shares during the quarter. Premier Fund Managers Ltd owned approximately 0.09% of First Solar worth $9,926,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors have also bought and sold shares of FSLR. BlackRock Inc. increased its holdings in First Solar by 20.5% during the 4th quarter. BlackRock Inc. now owns 12,672,907 shares of the solar cell manufacturer’s stock valued at $1,253,603,000 after acquiring an additional 2,156,107 shares in the last quarter. Caas Capital Management LP purchased a new stake in First Solar in the third quarter valued at approximately $66,200,000. First Trust Advisors LP grew its holdings in First Solar by 132.5% in the fourth quarter. First Trust Advisors LP now owns 808,738 shares of the solar cell manufacturer’s stock valued at $80,000,000 after purchasing an additional 460,878 shares during the period. Lansdowne Partners UK LLP grew its holdings in First Solar by 65.5% in the third quarter. Lansdowne Partners UK LLP now owns 891,286 shares of the solar cell manufacturer’s stock valued at $59,002,000 after purchasing an additional 352,762 shares during the period. Finally, Allianz Asset Management GmbH grew its holdings in First Solar by 5,327.7% in the third quarter. Allianz Asset Management GmbH now owns 348,407 shares of the solar cell manufacturer’s stock valued at $23,064,000 after purchasing an additional 341,988 shares during the period. Hedge funds and other institutional investors own 67.70% of the company’s stock.
A number of equities research analysts recently issued reports on FSLR shares. Zacks Investment Research upgraded shares of First Solar from a “hold” rating to a “buy” rating and set a $107.00 target price for the company in a report on Tuesday, December 29th. Bank of America downgraded shares of First Solar from a “neutral” rating to an “underperform” rating in a report on Thursday, January 28th. They noted that the move was a valuation call. Piper Sandler assumed coverage on shares of First Solar in a research report on Thursday, December 10th. They set a “neutral” rating and a $92.00 price target on the stock. Roth Capital lifted their price target on shares of First Solar from $110.00 to $120.00 in a research report on Monday, January 25th. Finally, Credit Suisse Group lifted their price target on shares of First Solar from $64.00 to $70.00 and gave the company an “underperform” rating in a research report on Wednesday, January 20th. Seven analysts have rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the stock. First Solar has an average rating of “Hold” and an average price target of $94.18.
In related news, COO Philip Dejong sold 8,877 shares of the company’s stock in a transaction on Tuesday, December 15th. The shares were sold at an average price of $85.50, for a total value of $758,983.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director R Craig Kennedy sold 550 shares of the company’s stock in a transaction on Friday, January 15th. The shares were sold at an average price of $105.16, for a total transaction of $57,838.00. Following the completion of the sale, the director now directly owns 26,839 shares in the company, valued at $2,822,389.24. The disclosure for this sale can be found here. Over the last three months, insiders have sold 9,977 shares of company stock worth $863,847. Corporate insiders own 0.54% of the company’s stock.
First Solar Profile
First Solar, Inc provides photovoltaic (PV) solar energy solutions in the United States and internationally. It operates in two segments, Modules and Systems. The Modules segment designs, manufactures, and sells cadmium telluride solar modules that convert sunlight into electricity to integrators and operators of PV solar power systems.
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