Asset Management One Co. Ltd. bought a new stake in shares of First Solar, Inc. (NASDAQ:FSLR – Get Rating) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 38,872 shares of the solar cell manufacturer’s stock, valued at approximately $5,785,000.
Several other institutional investors also recently made changes to their positions in FSLR. Quadrant Capital Group LLC boosted its position in shares of First Solar by 671.2% during the third quarter. Quadrant Capital Group LLC now owns 1,018 shares of the solar cell manufacturer’s stock worth $135,000 after buying an additional 886 shares during the period. Park Avenue Securities LLC acquired a new position in shares of First Solar during the fourth quarter worth approximately $343,000. Hudock Inc. acquired a new position in shares of First Solar during the third quarter worth approximately $39,000. Tobam acquired a new position in shares of First Solar during the third quarter worth approximately $517,000. Finally, Green Alpha Advisors LLC boosted its position in shares of First Solar by 3.1% during the fourth quarter. Green Alpha Advisors LLC now owns 24,637 shares of the solar cell manufacturer’s stock worth $3,690,000 after buying an additional 731 shares during the period. 80.97% of the stock is owned by institutional investors.
Insider Buying and Selling at First Solar
In other news, CEO Mark R. Widmar sold 26,553 shares of the company’s stock in a transaction on Friday, March 3rd. The shares were sold at an average price of $206.70, for a total value of $5,488,505.10. Following the transaction, the chief executive officer now directly owns 108,413 shares of the company’s stock, valued at $22,408,967.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, General Counsel Jason E. Dymbort sold 1,610 shares of the company’s stock in a transaction on Friday, March 3rd. The shares were sold at an average price of $200.21, for a total value of $322,338.10. Following the transaction, the general counsel now directly owns 5,039 shares of the company’s stock, valued at $1,008,858.19. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Mark R. Widmar sold 26,553 shares of the company’s stock in a transaction on Friday, March 3rd. The stock was sold at an average price of $206.70, for a total transaction of $5,488,505.10. Following the completion of the transaction, the chief executive officer now directly owns 108,413 shares in the company, valued at $22,408,967.10. The disclosure for this sale can be found here. Insiders have sold a total of 37,909 shares of company stock valued at $7,870,618 in the last three months. 0.58% of the stock is currently owned by company insiders.
First Solar Price Performance
First Solar (NASDAQ:FSLR – Get Rating) last announced its earnings results on Thursday, April 27th. The solar cell manufacturer reported $0.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.99 by ($0.59). First Solar had a net margin of 1.49% and a return on equity of 0.71%. The firm had revenue of $548.29 million for the quarter, compared to analyst estimates of $716.66 million. During the same period last year, the firm earned ($0.41) earnings per share. First Solar’s revenue for the quarter was up 49.4% compared to the same quarter last year. Equities analysts expect that First Solar, Inc. will post 7.22 earnings per share for the current fiscal year.
Analyst Ratings Changes
Several equities analysts have recently issued reports on the company. Barclays boosted their price objective on First Solar from $162.00 to $230.00 and gave the stock an “equal weight” rating in a research report on Thursday, March 23rd. Piper Sandler upped their target price on First Solar from $200.00 to $225.00 in a research report on Thursday, April 6th. Credit Suisse Group upped their target price on First Solar from $163.00 to $170.00 in a research report on Friday. Evercore ISI downgraded First Solar from an “outperform” rating to an “in-line” rating and cut their target price for the stock from $157.00 to $150.00 in a research report on Wednesday, March 1st. Finally, Morgan Stanley downgraded First Solar from an “equal weight” rating to an “underweight” rating and upped their target price for the stock from $194.00 to $200.00 in a research report on Monday, April 3rd. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $207.28.
First Solar Company Profile
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.
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