Natixis Advisors LLC Buys Shares of 62,580 First Solar, Inc. (NASDAQ:FSLR)

Natixis Advisors LLC purchased a new position in First Solar, Inc. (NASDAQ:FSLR - Free Report) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 62,580 shares of the solar cell manufacturer's stock, valued at approximately $14,109,000. Natixis Advisors LLC owned about 0.06% of First Solar at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in shares of First Solar in the fourth quarter valued at approximately $298,123,000. Schroder Investment Management Group increased its stake in shares of First Solar by 16.7% in the 4th 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 last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its holdings in shares of First Solar by 11.1% during the 1st 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. Park West Asset Management LLC acquired a new position in shares of First Solar during the 4th quarter valued at about $26,359,000. Finally, Swedbank AB acquired a new stake in First Solar during the first quarter worth about $21,815,000. 92.08% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at First Solar

In other news, insider Patrick James Buehler sold 8,619 shares of the firm's stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $222.00, for a total value of $1,913,418.00. Following the completion of the sale, the insider now owns 3,468 shares in the company, valued at approximately $769,896. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, insider Patrick James Buehler sold 8,619 shares of the stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $222.00, for a total transaction of $1,913,418.00. Following the completion of the transaction, the insider now directly owns 3,468 shares of the company's stock, valued at approximately $769,896. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Kuntal Kumar Verma sold 1,621 shares of First Solar stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $260.00, for a total value of $421,460.00. Following the completion of the sale, the insider now owns 3,549 shares in the company, valued at $922,740. The disclosure for this sale can be found here. Insiders sold 12,506 shares of company stock worth $2,827,217 over the last 90 days. 0.58% of the stock is currently owned by insiders.

First Solar Stock Performance

Shares of FSLR traded down $0.64 during mid-day trading on Thursday, reaching $214.76. 1,081,494 shares of the company's stock were exchanged, compared to its average volume of 2,405,771. The business's fifty day simple moving average is $221.51 and its 200-day simple moving average is $206.67. First Solar, Inc. has a 52-week low of $129.21 and a 52-week high of $306.77. The stock has a market capitalization of $22.99 billion, a PE ratio of 22.51, a price-to-earnings-growth ratio of 0.38 and a beta of 1.44. 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 (NASDAQ:FSLR - Get Free Report) last announced its earnings results on Tuesday, July 30th. The solar cell manufacturer reported $3.25 earnings per share for the quarter, topping the consensus estimate of $2.69 by $0.56. The business had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $939.71 million. First Solar had a net margin of 31.98% and a return on equity of 17.73%. The business's quarterly revenue was up 24.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.85 earnings per share. On average, equities research analysts expect that First Solar, Inc. will post 13.58 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on FSLR shares. Barclays boosted their target price on shares of First Solar from $280.00 to $290.00 and gave the company an "overweight" rating in a report on Friday, August 2nd. Clarkson Capital began coverage on First Solar in a research report on Wednesday, August 14th. They issued a "buy" rating and a $270.00 target price on the stock. Deutsche Bank Aktiengesellschaft increased their price target on First Solar from $215.00 to $280.00 and gave the stock a "buy" rating in a report on Friday, June 28th. JPMorgan Chase & Co. upped their target price on shares of First Solar from $262.00 to $282.00 and gave the company an "overweight" rating in a research report on Tuesday, July 16th. Finally, Royal Bank of Canada reiterated an "outperform" rating and set a $315.00 price target on shares of First Solar in a research report on Wednesday, July 31st. Five analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target 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.