Victory Capital Management Inc. Purchases 3,507 Shares of First Solar, Inc. (NASDAQ:FSLR)

Victory Capital Management Inc. increased its position in First Solar, Inc. (NASDAQ:FSLRFree Report) by 7.7% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 49,138 shares of the solar cell manufacturer’s stock after purchasing an additional 3,507 shares during the period. Victory Capital Management Inc.’s holdings in First Solar were worth $7,940,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of FSLR. Raymond James & Associates lifted its holdings in shares of First Solar by 160.6% in the first quarter. Raymond James & Associates now owns 26,796 shares of the solar cell manufacturer’s stock valued at $2,244,000 after purchasing an additional 16,515 shares in the last quarter. American Century Companies Inc. lifted its position in shares of First Solar by 13.8% during the 1st quarter. American Century Companies Inc. now owns 8,472 shares of the solar cell manufacturer’s stock worth $710,000 after buying an additional 1,030 shares in the last quarter. Cibc World Market Inc. lifted its position in shares of First Solar by 71.0% during the 1st quarter. Cibc World Market Inc. now owns 7,464 shares of the solar cell manufacturer’s stock worth $625,000 after buying an additional 3,100 shares in the last quarter. Blair William & Co. IL lifted its position in shares of First Solar by 1.8% during the 1st quarter. Blair William & Co. IL now owns 50,128 shares of the solar cell manufacturer’s stock worth $4,198,000 after buying an additional 890 shares in the last quarter. Finally, Sei Investments Co. lifted its position in shares of First Solar by 11.6% during the 1st quarter. Sei Investments Co. now owns 25,804 shares of the solar cell manufacturer’s stock worth $2,161,000 after buying an additional 2,691 shares in the last quarter. 82.08% of the stock is currently owned by institutional investors.

First Solar Stock Up 0.9 %

Shares of First Solar stock opened at $141.11 on Wednesday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.45 and a current ratio of 3.19. First Solar, Inc. has a 52-week low of $129.21 and a 52-week high of $232.00. The stock has a market capitalization of $15.08 billion, a price-to-earnings ratio of 31.93 and a beta of 1.41. The company’s 50 day moving average price is $157.21 and its 200-day moving average price is $164.52.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. BMO Capital Markets lowered their price objective on First Solar from $226.00 to $216.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 1st. Citigroup lowered their price objective on First Solar from $200.00 to $185.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 18th. Mizuho boosted their price objective on First Solar from $188.00 to $196.00 and gave the company a “buy” rating in a research note on Wednesday, January 3rd. BNP Paribas began coverage on First Solar in a research note on Friday, October 20th. They set an “outperform” rating and a $237.00 price objective on the stock. Finally, Barclays upgraded First Solar from an “equal weight” rating to an “overweight” rating and decreased their price objective for the company from $230.00 to $224.00 in a research note on Thursday, October 12th. Six equities research analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. Based on data from MarketBeat, First Solar presently has an average rating of “Moderate Buy” and an average target price of $234.00.

Get Our Latest Report on FSLR

Insider Transactions at First Solar

In other news, insider Georges Antoun sold 2,400 shares of First Solar stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $158.00, for a total value of $379,200.00. Following the sale, the insider now directly owns 44,441 shares in the company, valued at approximately $7,021,678. The sale was disclosed in a filing with the SEC, which is available through this link. Company insiders own 0.58% of the company’s stock.

About First Solar

(Free Report)

First Solar, Inc provides photovoltaic (PV) solar energy solutions in the United State, Japan, France, Canada, India, Australia, and internationally. The company designs, manufactures, and sells cadmium telluride solar modules that converts sunlight into electricity. It serves developers and operators of systems, utilities, independent power producers, commercial and industrial companies, and other system owners.

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

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