Ruffer LLP Acquires Shares of 157,055 First Solar, Inc. $FSLR

Ruffer LLP bought a new stake in First Solar, Inc. (NASDAQ:FSLR) during the third quarter, HoldingsChannel.com reports. The firm bought 157,055 shares of the solar cell manufacturer’s stock, valued at approximately $34,634,000. First Solar accounts for approximately 1.9% of Ruffer LLP’s portfolio, making the stock its 19th biggest holding.

Other institutional investors also recently modified their holdings of the company. Joule Financial LLC acquired a new stake in First Solar in the third quarter valued at about $950,000. New York State Common Retirement Fund boosted its stake in shares of First Solar by 1.2% in the 3rd quarter. New York State Common Retirement Fund now owns 67,060 shares of the solar cell manufacturer’s stock valued at $14,789,000 after purchasing an additional 800 shares in the last quarter. TD Waterhouse Canada Inc. grew its holdings in shares of First Solar by 24.5% during the 3rd quarter. TD Waterhouse Canada Inc. now owns 18,049 shares of the solar cell manufacturer’s stock valued at $4,063,000 after purchasing an additional 3,556 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of First Solar by 22.0% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 77,155 shares of the solar cell manufacturer’s stock valued at $17,015,000 after purchasing an additional 13,904 shares during the last quarter. Finally, Ballentine Partners LLC increased its position in First Solar by 8.6% during the 3rd quarter. Ballentine Partners LLC now owns 2,455 shares of the solar cell manufacturer’s stock worth $541,000 after purchasing an additional 195 shares in the last quarter. Institutional investors and hedge funds own 92.08% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Wolfe Research boosted their target price on shares of First Solar from $232.00 to $247.00 in a research note on Friday, October 31st. Weiss Ratings reiterated a “hold (c+)” rating on shares of First Solar in a research report on Monday, December 29th. KeyCorp restated an “overweight” rating on shares of First Solar in a report on Friday, October 31st. Rothschild & Co Redburn raised their price objective on shares of First Solar from $150.00 to $260.00 and gave the company a “neutral” rating in a report on Thursday, November 13th. Finally, DZ Bank cut shares of First Solar from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 31st. One research analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $275.94.

First Solar Stock Up 6.1%

First Solar stock opened at $249.41 on Thursday. The firm has a market cap of $26.76 billion, a price-to-earnings ratio of 19.16, a PEG ratio of 0.30 and a beta of 1.60. First Solar, Inc. has a 52-week low of $116.56 and a 52-week high of $285.99. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.55 and a current ratio of 1.91. The firm has a 50 day moving average price of $256.66 and a two-hundred day moving average price of $229.06.

First Solar (NASDAQ:FSLR) last released its earnings results on Thursday, October 30th. The solar cell manufacturer reported $4.24 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.32 by ($0.08). First Solar had a net margin of 27.73% and a return on equity of 16.61%. The firm had revenue of $1.59 billion during the quarter, compared to analyst estimates of $1.56 billion. During the same quarter in the previous year, the firm earned $2.91 EPS. First Solar’s quarterly revenue was up 79.7% on a year-over-year basis. Equities analysts predict that First Solar, Inc. will post 13.05 EPS for the current year.

Insider Activity at First Solar

In related news, Director Paul H. Stebbins sold 7,000 shares of the firm’s stock in a transaction that occurred on Friday, November 7th. The stock was sold at an average price of $262.40, for a total transaction of $1,836,800.00. Following the completion of the sale, the director owned 15,287 shares of the company’s stock, valued at $4,011,308.80. This trade represents a 31.41% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Michael T. Sweeney sold 4,500 shares of the business’s stock in a transaction that occurred on Thursday, November 6th. The shares were sold at an average price of $271.11, for a total value of $1,219,995.00. Following the completion of the transaction, the director directly owned 13,662 shares in the company, valued at approximately $3,703,904.82. This trade represents a 24.78% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 48,912 shares of company stock worth $12,971,349 in the last 90 days. Corporate insiders own 0.48% of the company’s stock.

First Solar Profile

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.