Shares of First Solar, Inc. (NASDAQ:FSLR) sold by Sentry Investment Management LLC

Sentry Investment Management LLC reduced its position in First Solar, Inc. (NASDAQ:FSLR – Free Report) by 17.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 465 shares of the solar cell maker’s stock after selling 95 shares during the quarter. Sentry Investment Management LLC’s holdings in First Solar were worth $105,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in FSLR. Vanguard Group Inc. raised its position in First Solar by 0.9% in the first quarter. Vanguard Group Inc. now owns 12,257,053 shares of the solar cell maker’s stock worth $2,068,991,000 after acquiring an additional 105,236 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding SA boosted its position in shares of First Solar by 11.1% in the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding SA now owns 2,801,916 shares of the solar cell maker’s stock worth $472,963,000 after acquiring an additional 279,719 shares in the last quarter. Schroder Investment Management Group boosted its stake in First Solar by 16.7% in the 4th quarter. Schroder Investment Management Group now owns 2,454,499 shares of the solar cell maker’s stock valued at $422,861,000 after purchasing an additional 351,540 shares during the last quarter. Norges Bank purchased a new stake in First Solar in the fourth quarter valued at $298,123,000. Finally, Northern Trust Corp grew its position in First Solar by 1.7% during the fourth quarter. Northern Trust Corp now owns 1,020,527 shares of the solar cell maker’s stock worth $175,816,000 after buying an additional 16,756 shares during the last quarter. Institutional investors and hedge funds own 92.08% of the company’s shares.

The performance of the first solar price

First Solar stock opened at $235.95 on Friday. The firm has a fifty day moving average of $220.93 and a 200 day moving average of $209.11. First Solar, Inc. it has a 52-week low of $129.21 and a 52-week high of $306.77. The company has a quick ratio of 1.65, a current ratio of 2.23, and a debt-to-equity ratio of 0.06. The firm has a market cap of $25.26 billion, a P/E ratio of 24.73, a PEG ratio of 0.35 and a beta of 1.44.

First Solar (NASDAQ:FSLR – Get Free Report ) last announced its quarterly earnings results on Tuesday, July 30th. The solar cell maker reported $3.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.69 by $0.56. The firm had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $939.71 million. First Solar had a return on equity of 17.73% and a net margin of 31.98%. The company’s quarterly revenue was up 24.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.85 EPS. As a group, analysts predict that First Solar, Inc. will post 13.6 EPS for the current year.

The Wall Street analyst weighs in

FSLR has been the subject of a number of analyst reports. Oppenheimer boosted their price objective on First Solar from $325.00 to $326.00 and gave the company an “outperform” rating in a research note on Wednesday, July 31st. Piper Sandler raised their target price on shares of First Solar from $219.00 to $250.00 and gave the stock an “overweight” rating in a report on Monday, July 22nd. Robert W. Baird reduced their price objective on shares of First Solar from $344.00 to $307.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 2nd. JPMorgan Chase & Co. lifted their target price on shares of First Solar from $262.00 to $282.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 16th. Finally, Barclays boosted their price target on First Solar from $280.00 to $290.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. Five research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the stock. The stock currently has an average rating of “Moderate Buy” and a consensus price target of $277.25, based on data from MarketBeat.com.

Check out our latest analysis of FSLR

Insider buying and selling

In other First Solar news, insider Patrick James Buehler sold 8,619 shares of the stock in a transaction that occurred 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 of the company’s stock, valued at $769,896. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed via this hyperlink. In related news, CAO Byron Michael Jeffers sold 1,766 shares of the stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $216.50, for a total value of $382,339.00. Following the completion of the transaction, the chief accounting officer now owns 500 shares of the company’s stock, valued at $108,250. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available on the SEC’s website. Also, insider Patrick James Buehler sold 8,619 shares of First Solar stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $222.00, for a total value of $1,913,418.00. Following the sale, the insider now owns 3,468 shares in the company, valued at $769,896. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 12,506 shares of company stock worth $2,827,217. Corporate insiders own 0.58% of the company’s shares.

About First Solar

(Free Report)

First Solar, Inc, a solar technology company, provides solar photovoltaic (PV) energy solutions in the United States, France, Japan, Chile and internationally. The company manufactures and sells photovoltaic solar modules with a thin-film semiconductor technology that provides a low-carbon alternative to conventional crystalline silicon solar photovoltaic modules.

See Also

Want to see what other hedge funds own FSLR? Visit HoldingsChannel.com to get the latest 13F filings and insider trading for First Solar, Inc. (NASDAQ:FSLR – Free Report).

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