Symphony Financial Ltd. Co. Has $496,000 Position in First Solar, Inc. (NASDAQ:FSLR)


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Symphony Financial Ltd. Co. lifted its holdings in shares of First Solar, Inc. (NASDAQ:FSLR) by 11.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,900 shares of the solar cell manufacturer’s stock after purchasing an additional 500 shares during the quarter. Symphony Financial Ltd. Co.’s holdings in First Solar were worth $496,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. BlackRock Inc. raised its position in First Solar by 8.3% in the 3rd quarter. BlackRock Inc. now owns 10,516,800 shares of the solar cell manufacturer’s stock valued at $696,213,000 after buying an additional 807,405 shares during the last quarter. State Street Corp raised its position in First Solar by 0.5% in the 3rd quarter. State Street Corp now owns 2,206,625 shares of the solar cell manufacturer’s stock valued at $146,079,000 after buying an additional 11,909 shares during the last quarter. Caas Capital Management LP acquired a new stake in First Solar in the 3rd quarter valued at approximately $66,200,000. Lansdowne Partners UK LLP raised its position in First Solar by 65.5% in the 3rd quarter. Lansdowne Partners UK LLP now owns 891,286 shares of the solar cell manufacturer’s stock valued at $59,002,000 after buying an additional 352,762 shares during the last quarter. Finally, Mirova raised its position in First Solar by 1.3% in the 3rd quarter. Mirova now owns 624,612 shares of the solar cell manufacturer’s stock valued at $41,349,000 after buying an additional 8,121 shares during the last quarter. 50.69% of the stock is currently owned by institutional investors.

Shares of NASDAQ FSLR opened at $104.18 on Thursday. The stock has a market capitalization of $11.04 billion, a PE ratio of 49.85, a P/E/G ratio of 1.49 and a beta of 1.22. The company has a debt-to-equity ratio of 0.04, a current ratio of 3.83 and a quick ratio of 3.05. The business has a fifty day moving average price of $95.68 and a two-hundred day moving average price of $77.67. First Solar, Inc. has a fifty-two week low of $28.47 and a fifty-two week high of $109.62.

First Solar (NASDAQ:FSLR) last announced its quarterly earnings data on Tuesday, October 27th. The solar cell manufacturer reported $1.45 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.60 by $0.85. The firm had revenue of $927.57 million during the quarter, compared to analysts’ expectations of $707.70 million. First Solar had a return on equity of 9.49% and a net margin of 6.38%. On average, equities analysts expect that First Solar, Inc. will post 3.92 EPS for the current year.

In other news, Director R Craig Kennedy sold 550 shares of the business’s stock in a transaction on Monday, November 16th. The stock was sold at an average price of $80.77, for a total transaction of $44,423.50. Following the completion of the transaction, the director now owns 27,534 shares of the company’s stock, valued at approximately $2,223,921.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, COO Philip Dejong sold 8,256 shares of the business’s stock in a transaction on Thursday, October 29th. The stock was sold at an average price of $91.15, for a total value of $752,534.40. Following the transaction, the chief operating officer now directly owns 8,877 shares of the company’s stock, valued at approximately $809,138.55. The disclosure for this sale can be found here. Insiders sold a total of 2,518,233 shares of company stock valued at $201,602,966 over the last ninety days. Insiders own 0.54% of the company’s stock.

FSLR has been the topic of a number of recent research reports. TheStreet raised First Solar from a “c+” rating to a “b-” rating in a research report on Monday, October 19th. BidaskClub downgraded First Solar from a “strong-buy” rating to a “buy” rating in a research note on Saturday, September 19th. Morgan Stanley reduced their price target on First Solar from $59.00 to $52.00 and set an “underweight” rating for the company in a research note on Tuesday. Robert W. Baird boosted their price target on First Solar from $97.00 to $125.00 and gave the company an “outperform” rating in a research note on Wednesday, October 28th. Finally, Roth Capital upgraded First Solar from a “neutral” rating to a “buy” rating and set a $100.00 price target for the company in a research note on Monday, October 26th. Six equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $87.32.

About First Solar

First Solar, Inc provides photovoltaic (PV) solar energy solutions in the United States and internationally. It operates in two segments, Modules and Systems. The Modules segment designs, manufactures, and sells cadmium telluride solar modules that convert sunlight into electricity to integrators and operators of PV solar power systems.

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Institutional Ownership by Quarter for First Solar (NASDAQ:FSLR)

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