Russell Investments Group Ltd. Has $23.42 Million Stake in First Solar, Inc. (NASDAQ:FSLR)

Russell Investments Group Ltd. lifted its position in First Solar, Inc. (NASDAQ:FSLR - Free Report) by 73.2% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 132,481 shares of the solar cell manufacturer's stock after purchasing an additional 55,971 shares during the quarter. Russell Investments Group Ltd. owned 0.12% of First Solar worth $23,422,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Norges Bank acquired a new stake in shares of First Solar during the fourth quarter worth approximately $317,399,000. Mirova US LLC grew its position in First Solar by 961.0% during the 4th quarter. Mirova US LLC now owns 646,310 shares of the solar cell manufacturer's stock worth $113,906,000 after acquiring an additional 585,394 shares during the last quarter. Amundi increased its holdings in First Solar by 31.0% during the 4th quarter. Amundi now owns 1,805,244 shares of the solar cell manufacturer's stock valued at $336,871,000 after purchasing an additional 426,797 shares in the last quarter. Wellington Management Group LLP raised its position in First Solar by 12.5% in the 4th quarter. Wellington Management Group LLP now owns 2,359,846 shares of the solar cell manufacturer's stock valued at $415,899,000 after purchasing an additional 262,482 shares during the last quarter. Finally, Handelsbanken Fonder AB grew its holdings in shares of First Solar by 110.4% during the fourth quarter. Handelsbanken Fonder AB now owns 375,010 shares of the solar cell manufacturer's stock worth $66,092,000 after purchasing an additional 196,744 shares during the last quarter. Institutional investors and hedge funds own 92.08% of the company's stock.

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Insider Buying and Selling at First Solar

In related news, CEO Mark R. Widmar sold 21,542 shares of First Solar stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $141.09, for a total transaction of $3,039,360.78. Following the sale, the chief executive officer now directly owns 103,403 shares of the company's stock, valued at approximately $14,589,129.27. The trade was a 17.24 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Georges Antoun sold 229 shares of the company's stock in a transaction on Monday, March 17th. The stock was sold at an average price of $133.75, for a total transaction of $30,628.75. Following the transaction, the insider now owns 52,836 shares of the company's stock, valued at $7,066,815. This trade represents a 0.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 34,311 shares of company stock worth $4,767,158 over the last 90 days. Insiders own 0.58% of the company's stock.

First Solar Stock Performance

Shares of NASDAQ:FSLR traded up $5.92 on Monday, reaching $131.85. 746,590 shares of the company's stock were exchanged, compared to its average volume of 2,729,002. The company has a fifty day moving average of $139.83 and a 200-day moving average of $175.63. First Solar, Inc. has a twelve month low of $116.56 and a twelve month high of $306.77. The company has a current ratio of 2.14, a quick ratio of 1.44 and a debt-to-equity ratio of 0.05. The company has a market capitalization of $14.12 billion, a price-to-earnings ratio of 11.36, a PEG ratio of 0.19 and a beta of 1.48.

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

Analysts Set New Price Targets

FSLR has been the subject of a number of research analyst reports. Deutsche Bank Aktiengesellschaft set a $265.00 price target on First Solar in a report on Thursday, February 27th. Robert W. Baird reduced their target price on shares of First Solar from $307.00 to $267.00 and set an "outperform" rating on the stock in a research report on Wednesday, December 18th. Wells Fargo & Company lowered their price target on shares of First Solar from $240.00 to $209.00 and set an "overweight" rating for the company in a report on Wednesday, January 8th. Roth Mkm reaffirmed a "buy" rating and set a $280.00 price objective on shares of First Solar in a report on Wednesday, February 26th. Finally, Citigroup decreased their price objective on First Solar from $254.00 to $236.00 and set a "neutral" rating on the stock in a research report on Wednesday, February 26th. Four analysts have rated the stock with a hold rating, twenty-three have given a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $256.08.

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.