North Growth Management Ltd. Makes New Investment in First Solar, Inc. (NASDAQ:FSLR)

North Growth Management Ltd. bought a new stake in First Solar, Inc. (NASDAQ:FSLR - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 10,000 shares of the solar cell manufacturer's stock, valued at approximately $2,336,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Norges Bank acquired a new position in First Solar in the 4th quarter valued at $298,123,000. Schroder Investment Management Group increased its position in First Solar by 16.7% during the fourth quarter. Schroder Investment Management Group now owns 2,454,499 shares of the solar cell manufacturer's stock worth $422,861,000 after acquiring an additional 351,540 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its position in First Solar by 11.1% during the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 2,801,916 shares of the solar cell manufacturer's stock worth $472,963,000 after acquiring an additional 279,719 shares during the period. Bank Julius Baer & Co. Ltd Zurich raised its stake in First Solar by 2,009.8% in the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 180,681 shares of the solar cell manufacturer's stock worth $31,128,000 after purchasing an additional 172,117 shares in the last quarter. Finally, Park West Asset Management LLC bought a new stake in First Solar in the 4th quarter valued at about $26,359,000. Institutional investors and hedge funds own 92.08% of the company's stock.

Insider Activity at First Solar

In related news, CFO Alexander R. Bradley sold 16,051 shares of First Solar stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $274.69, for a total transaction of $4,409,049.19. Following the completion of the transaction, the chief financial officer now owns 30,652 shares of the company's stock, valued at $8,419,797.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, CAO Byron Michael Jeffers sold 1,766 shares of the firm's stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $216.50, for a total transaction of $382,339.00. Following the completion of the sale, the chief accounting officer now owns 500 shares of the company's stock, valued at approximately $108,250. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Alexander R. Bradley sold 16,051 shares of First Solar stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $274.69, for a total transaction of $4,409,049.19. Following the completion of the sale, the chief financial officer now owns 30,652 shares of the company's stock, valued at approximately $8,419,797.88. The disclosure for this sale can be found here. Insiders have sold 37,203 shares of company stock worth $9,598,253 over the last ninety days. Insiders own 0.58% of the company's stock.

First Solar Trading Up 5.9 %

Shares of FSLR stock traded up $12.81 during trading hours on Friday, hitting $231.07. 1,274,326 shares of the company's stock traded hands, compared to its average volume of 2,450,218. The stock has a market cap of $24.73 billion, a PE ratio of 24.22, a price-to-earnings-growth ratio of 0.37 and a beta of 1.44. The stock's 50 day simple moving average is $227.57 and its 200 day simple moving average is $202.15. The company has a quick ratio of 1.86, a current ratio of 2.23 and a debt-to-equity ratio of 0.06. First Solar, Inc. has a 12 month low of $129.21 and a 12 month high of $306.77.

First Solar (NASDAQ:FSLR - Get Free Report) last announced its earnings results on Tuesday, July 30th. The solar cell manufacturer reported $3.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.69 by $0.56. First Solar had a return on equity of 17.73% and a net margin of 31.98%. The business had revenue of $1.01 billion during the quarter, compared to analyst estimates of $939.71 million. During the same period last year, the company earned $1.85 EPS. First Solar's revenue for the quarter was up 24.6% compared to the same quarter last year. On average, sell-side analysts anticipate that First Solar, Inc. will post 13.53 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. Deutsche Bank Aktiengesellschaft lifted their price target on shares of First Solar from $215.00 to $280.00 and gave the company a "buy" rating in a research report on Friday, June 28th. Janney Montgomery Scott downgraded First Solar from a "buy" rating to a "neutral" rating in a research report on Tuesday, June 18th. Morgan Stanley raised their price target on First Solar from $248.00 to $331.00 and gave the stock an "overweight" rating in a research report on Tuesday, June 4th. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $315.00 price target on shares of First Solar in a research note on Wednesday, July 31st. Finally, Barclays increased their price objective on shares of First Solar from $280.00 to $290.00 and gave the stock an "overweight" rating in a research note on Friday, August 2nd. Four equities research analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $275.36.

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.

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