Menta Capital LLC bought a new stake in First Solar, Inc. (NASDAQ:FSLR) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 35,200 shares of the solar cell manufacturer’s stock, valued at approximately $1,404,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. UBS Asset Management Americas Inc. raised its stake in shares of First Solar by 47.3% in the second quarter. UBS Asset Management Americas Inc. now owns 84,014 shares of the solar cell manufacturer’s stock valued at $3,350,000 after acquiring an additional 26,975 shares during the period. Quantitative Investment Management LLC purchased a new stake in shares of First Solar in the second quarter valued at $8,657,000. Rafferty Asset Management LLC purchased a new stake in shares of First Solar in the second quarter valued at $872,000. Mutual of America Capital Management LLC raised its stake in shares of First Solar by 3.1% in the second quarter. Mutual of America Capital Management LLC now owns 64,135 shares of the solar cell manufacturer’s stock valued at $2,558,000 after acquiring an additional 1,928 shares during the period. Finally, New York State Common Retirement Fund raised its stake in shares of First Solar by 10.0% in the second quarter. New York State Common Retirement Fund now owns 206,800 shares of the solar cell manufacturer’s stock valued at $8,247,000 after acquiring an additional 18,799 shares during the period. 53.08% of the stock is currently owned by institutional investors and hedge funds.

In other First Solar news, CEO Mark R. Widmar sold 43,189 shares of the business’s stock in a transaction dated Monday, July 31st. The shares were sold at an average price of $48.55, for a total transaction of $2,096,825.95. Following the sale, the chief executive officer now directly owns 107,454 shares in the company, valued at $5,216,891.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Alexander R. Bradley sold 566 shares of the business’s stock in a transaction dated Tuesday, August 8th. The stock was sold at an average price of $48.66, for a total transaction of $27,541.56. Following the sale, the chief financial officer now owns 963 shares in the company, valued at $46,859.58. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 94,674 shares of company stock worth $4,655,846. 0.58% of the stock is owned by insiders.

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First Solar, Inc. (NASDAQ FSLR) opened at 51.41 on Friday. The stock has a 50 day moving average of $47.85 and a 200-day moving average of $38.35. The company’s market capitalization is $5.37 billion. First Solar, Inc. has a 12-month low of $25.56 and a 12-month high of $53.00.

First Solar (NASDAQ:FSLR) last issued its quarterly earnings data on Thursday, July 27th. The solar cell manufacturer reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.04 by $0.60. The firm had revenue of $623.00 million for the quarter, compared to analyst estimates of $591.55 million. First Solar had a negative net margin of 18.80% and a positive return on equity of 6.43%. First Solar’s revenue was down 38.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.87 EPS. Equities analysts expect that First Solar, Inc. will post $2.11 earnings per share for the current year.

Several equities research analysts have recently weighed in on FSLR shares. Deutsche Bank AG reissued a “hold” rating and issued a $38.00 target price (up previously from $36.00) on shares of First Solar in a research note on Sunday, May 28th. ValuEngine downgraded shares of First Solar from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. BidaskClub raised shares of First Solar from a “hold” rating to a “buy” rating in a research note on Wednesday, June 28th. Zacks Investment Research downgraded shares of First Solar from a “hold” rating to a “sell” rating in a research note on Tuesday, July 4th. Finally, Morgan Stanley reissued an “equal weight” rating on shares of First Solar in a research note on Tuesday, July 11th. One research analyst has rated the stock with a sell rating, sixteen have given a hold rating and eleven have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $45.56.

About First Solar

First Solar, Inc is a provider of photovoltaic (PV) solar energy solutions. The Company designs, manufactures and sells PV solar modules with a thin-film semiconductor technology. The Company also develops, designs, constructs and sells PV solar power systems that primarily use the modules it manufactures.

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

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