Ruffer LLP Purchases Shares of 30,480 First Solar, Inc. (NASDAQ:FSLR)

Ruffer LLP acquired a new stake in shares of First Solar, Inc. (NASDAQ:FSLR) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 30,480 shares of the solar cell manufacturer’s stock, valued at approximately $5,372,000.

Other hedge funds also recently bought and sold shares of the company. State Street Corp increased its holdings in First Solar by 2.2% in the third quarter. State Street Corp now owns 4,956,633 shares of the solar cell manufacturer’s stock worth $1,236,383,000 after buying an additional 108,984 shares during the last quarter. Geode Capital Management LLC lifted its position in First Solar by 0.9% in the third quarter. Geode Capital Management LLC now owns 2,602,503 shares of the solar cell manufacturer’s stock worth $647,440,000 after purchasing an additional 24,143 shares during the period. Wellington Management Group LLP lifted its position in First Solar by 75.8% in the third quarter. Wellington Management Group LLP now owns 2,097,364 shares of the solar cell manufacturer’s stock worth $523,166,000 after purchasing an additional 904,498 shares during the period. Amundi lifted its holdings in shares of First Solar by 31.0% during the fourth quarter. Amundi now owns 1,805,244 shares of the solar cell manufacturer’s stock valued at $336,871,000 after acquiring an additional 426,797 shares during the period. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its stake in shares of First Solar by 0.9% in the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,743,813 shares of the solar cell manufacturer’s stock valued at $434,977,000 after buying an additional 15,890 shares in the last quarter. 92.08% of the stock is owned by hedge funds and other institutional investors.

First Solar Stock Performance

NASDAQ FSLR opened at $139.13 on Friday. The company has a quick ratio of 1.44, a current ratio of 2.14 and a debt-to-equity ratio of 0.05. The company has a 50-day simple moving average of $167.08 and a two-hundred day simple moving average of $194.60. The firm has a market cap of $14.90 billion, a price-to-earnings ratio of 11.98, a PEG ratio of 0.19 and a beta of 1.52. First Solar, Inc. has a 12-month low of $124.96 and a 12-month high of $306.77.

First Solar (NASDAQ:FSLR) last released its quarterly earnings results on Tuesday, February 25th. The solar cell manufacturer reported $3.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.81 by ($1.16). First Solar had a return on equity of 17.56% and a net margin of 32.41%. The company had revenue of $1.51 billion during the quarter, compared to the consensus estimate of $1.48 billion. On average, equities analysts forecast that First Solar, Inc. will post 13.05 EPS for the current year.

Insider Activity at First Solar

In other news, CEO Mark R. Widmar sold 21,542 shares of the business’s stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $141.09, for a total value of $3,039,360.78. Following the transaction, the chief executive officer now directly owns 103,403 shares in the company, valued at $14,589,129.27. The trade was a 17.24 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Kuntal Kumar Verma sold 7,475 shares of the business’s stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $136.60, for a total value of $1,021,085.00. Following the completion of the sale, the insider now owns 3,549 shares in the company, valued at $484,793.40. This represents a 67.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.58% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Morgan Stanley decreased their target price on First Solar from $297.00 to $238.00 and set an “overweight” rating for the company in a research report on Thursday, February 27th. Barclays lowered their target price on shares of First Solar from $273.00 to $236.00 and set an “overweight” rating on the stock in a report on Friday, February 28th. BMO Capital Markets reissued an “outperform” rating and issued a $230.00 price objective (down from $260.00) on shares of First Solar in a research report on Wednesday, February 26th. Roth Mkm restated a “buy” rating and issued a $280.00 price target on shares of First Solar in a research note on Wednesday, February 26th. Finally, Truist Financial restated a “buy” rating and set a $285.00 price objective (down previously from $300.00) on shares of First Solar in a research note on Wednesday, February 26th. Four equities research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $262.08.

First Solar Company 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.