Signaturefd LLC Buys 102 Shares of First Solar, Inc. (NASDAQ:FSLR)

Posted by on Apr 15th, 2023

Signaturefd LLC lifted its stake in shares of First Solar, Inc. (NASDAQ:FSLR – Get Rating) by 3.6% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,955 shares of the solar cell manufacturer’s stock after purchasing an additional 102 shares during the period. Signaturefd LLC’s holdings in First Solar were worth $443,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Fifth Third Bancorp increased its holdings in shares of First Solar by 15.8% during the 3rd quarter. Fifth Third Bancorp now owns 601 shares of the solar cell manufacturer’s stock worth $79,000 after acquiring an additional 82 shares during the last quarter. Greenleaf Trust increased its holdings in shares of First Solar by 1.4% during the 4th quarter. Greenleaf Trust now owns 6,976 shares of the solar cell manufacturer’s stock worth $1,045,000 after acquiring an additional 98 shares during the last quarter. M&T Bank Corp increased its holdings in shares of First Solar by 1.9% during the 3rd quarter. M&T Bank Corp now owns 5,731 shares of the solar cell manufacturer’s stock worth $758,000 after acquiring an additional 106 shares during the last quarter. Cambridge Trust Co. increased its holdings in shares of First Solar by 3.7% during the 4th quarter. Cambridge Trust Co. now owns 3,182 shares of the solar cell manufacturer’s stock worth $477,000 after acquiring an additional 115 shares during the last quarter. Finally, Harrington Investments INC increased its holdings in shares of First Solar by 0.8% during the 3rd quarter. Harrington Investments INC now owns 15,255 shares of the solar cell manufacturer’s stock worth $2,018,000 after acquiring an additional 120 shares during the last quarter. Institutional investors own 80.97% of the company’s stock.

First Solar Stock Down 1.4 %

Shares of FSLR stock opened at $208.40 on Friday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 3.05 and a current ratio of 3.65. First Solar, Inc. has a twelve month low of $59.60 and a twelve month high of $219.55. The business has a fifty day simple moving average of $193.59 and a 200 day simple moving average of $167.24.

First Solar (NASDAQ:FSLR – Get Rating) last announced its quarterly earnings data on Tuesday, February 28th. The solar cell manufacturer reported ($0.07) earnings per share for the quarter, topping the consensus estimate of ($0.18) by $0.11. First Solar had a negative return on equity of 0.75% and a negative net margin of 1.69%. The business had revenue of $1 billion during the quarter, compared to the consensus estimate of $1 billion. During the same period in the prior year, the company earned $1.23 EPS. First Solar’s revenue for the quarter was up 10.5% on a year-over-year basis. On average, research analysts predict that First Solar, Inc. will post 7.25 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms recently weighed in on FSLR. Cowen boosted their target price on First Solar from $195.00 to $205.00 in a report on Wednesday, March 1st. Barclays upped their price objective on First Solar from $162.00 to $230.00 and gave the company an “equal weight” rating in a report on Thursday, March 23rd. Daiwa Capital Markets started coverage on First Solar in a report on Friday, December 23rd. They issued an “outperform” rating and a $175.00 price objective on the stock. Credit Suisse Group upped their price objective on First Solar from $152.00 to $163.00 and gave the company a “neutral” rating in a report on Wednesday, March 15th. Finally, Piper Sandler upped their price objective on First Solar from $200.00 to $225.00 in a report on Thursday, April 6th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $206.79.

Insider Buying and Selling

In other First Solar news, General Counsel Jason E. Dymbort sold 965 shares of the stock in a transaction dated Tuesday, March 7th. The stock was sold at an average price of $212.50, for a total value of $205,062.50. Following the completion of the transaction, the general counsel now directly owns 6,002 shares in the company, valued at $1,275,425. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other First Solar news, CAO Byron Michael Jeffers sold 1,281 shares of the stock in a transaction dated Tuesday, March 7th. The stock was sold at an average price of $212.50, for a total value of $272,212.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, General Counsel Jason E. Dymbort sold 965 shares of the stock in a transaction dated Tuesday, March 7th. The shares were sold at an average price of $212.50, for a total value of $205,062.50. Following the completion of the transaction, the general counsel now owns 6,002 shares of the company’s stock, valued at $1,275,425. The disclosure for this sale can be found here. Insiders sold a total of 37,909 shares of company stock worth $7,870,618 in the last ninety days. 0.58% of the stock is owned by insiders.

About First Solar

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First Solar, Inc is a solar technology company, which engages in the provision of solar modules. It is involved in the design, manufacture, and sale of cadmium tellurid (CdTe) solar modules, which convert sunlight into electricity. The company was founded by Michael J. Ahearn in 1999 and is headquartered in Tempe, AZ.

See Also

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

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