First Solar, Inc. (NASDAQ:FSLR) Shares Purchased by Viking Fund Management LLC

Viking Fund Management LLC increased its holdings in shares of First Solar, Inc. (NASDAQ:FSLR) by 28.6% during the 3rd quarter, Holdings Channel.com reports. The fund owned 9,000 shares of the solar cell manufacturer’s stock after buying an additional 2,000 shares during the period. Viking Fund Management LLC’s holdings in First Solar were worth $2,245,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Sound Income Strategies LLC boosted its holdings in shares of First Solar by 555.6% during the third quarter. Sound Income Strategies LLC now owns 236 shares of the solar cell manufacturer’s stock valued at $59,000 after acquiring an additional 200 shares during the period. Gilman Hill Asset Management LLC boosted its stake in First Solar by 2.8% during the 3rd quarter. Gilman Hill Asset Management LLC now owns 1,825 shares of the solar cell manufacturer’s stock valued at $455,000 after purchasing an additional 50 shares during the period. Shaker Investments LLC OH bought a new position in First Solar in the 3rd quarter worth about $2,095,000. Exchange Traded Concepts LLC increased its stake in shares of First Solar by 429.9% in the third quarter. Exchange Traded Concepts LLC now owns 1,775 shares of the solar cell manufacturer’s stock valued at $443,000 after purchasing an additional 1,440 shares during the period. Finally, Inspire Investing LLC raised its holdings in shares of First Solar by 4.0% during the third quarter. Inspire Investing LLC now owns 14,049 shares of the solar cell manufacturer’s stock valued at $3,504,000 after buying an additional 544 shares during the last quarter. Institutional investors and hedge funds own 92.08% of the company’s stock.

Insider Transactions at First Solar

In related news, CAO Byron Michael Jeffers sold 500 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $220.00, for a total transaction of $110,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CAO Byron Michael Jeffers sold 500 shares of First Solar stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $220.00, for a total value of $110,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Patrick James Buehler sold 8,619 shares of the firm’s stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $222.00, for a total value of $1,913,418.00. Following the completion of the transaction, the insider now owns 3,468 shares in the company, valued at $769,896. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 10,885 shares of company stock valued at $2,405,757. 0.58% of the stock is owned by corporate insiders.

Analyst Ratings Changes

FSLR has been the topic of several analyst reports. Truist Financial started coverage on First Solar in a research report on Thursday, September 26th. They issued a “buy” rating and a $300.00 target price on the stock. Janney Montgomery Scott downgraded First Solar from a “buy” rating to a “neutral” rating in a research report on Tuesday, June 18th. Oppenheimer lifted their price target on First Solar from $325.00 to $326.00 and gave the company an “outperform” rating in a research report on Wednesday, July 31st. UBS Group increased their target price on shares of First Solar from $350.00 to $360.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Finally, JPMorgan Chase & Co. increased their price objective on First Solar from $262.00 to $282.00 and gave the company an “overweight” rating in a research report on Tuesday, July 16th. Four equities research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $285.44.

First Solar Stock Performance

FSLR stock traded up $6.45 on Friday, reaching $211.49. 3,038,178 shares of the company were exchanged, compared to its average volume of 2,381,552. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.23 and a quick ratio of 1.65. First Solar, Inc. has a 12 month low of $129.21 and a 12 month high of $306.77. The stock’s fifty day moving average price is $227.56 and its 200 day moving average price is $221.58. The firm has a market capitalization of $22.64 billion, a PE ratio of 22.17, a PEG ratio of 0.38 and a beta of 1.44.

First Solar (NASDAQ:FSLR) last announced its quarterly earnings data on Tuesday, July 30th. The solar cell manufacturer reported $3.25 EPS for the quarter, beating analysts’ consensus estimates of $2.69 by $0.56. First Solar had a net margin of 31.98% and a return on equity of 17.73%. The business had revenue of $1.01 billion during the quarter, compared to analyst estimates of $939.71 million. During the same quarter in the prior year, the business earned $1.85 earnings per share. The firm’s revenue for the quarter was up 24.6% on a year-over-year basis. On average, research analysts anticipate that First Solar, Inc. will post 13.53 EPS for the current fiscal year.

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.