Sei Investments Co. Acquires 4,811 Shares of First Solar, Inc. (NASDAQ:FSLR)

Posted by on Jun 6th, 2023

Sei Investments Co. grew its holdings in shares of First Solar, Inc. (NASDAQ:FSLR – Get Rating) by 16.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 34,896 shares of the solar cell manufacturer’s stock after purchasing an additional 4,811 shares during the quarter. Sei Investments Co.’s holdings in First Solar were worth $5,228,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. New York Life Investment Management LLC bought a new position in First Solar during the fourth quarter valued at about $2,226,000. AXQ Capital LP bought a new position in shares of First Solar in the 4th quarter valued at approximately $457,000. Banque Cantonale Vaudoise lifted its holdings in First Solar by 94.0% in the 4th quarter. Banque Cantonale Vaudoise now owns 26,020 shares of the solar cell manufacturer’s stock worth $3,898,000 after purchasing an additional 12,606 shares during the last quarter. Aviva PLC acquired a new position in First Solar during the fourth quarter valued at approximately $1,820,000. Finally, Waratah Capital Advisors Ltd. bought a new position in shares of First Solar in the fourth quarter valued at approximately $541,000. Institutional investors and hedge funds own 80.97% of the company’s stock.

First Solar Stock Down 1.5 %

Shares of NASDAQ:FSLR opened at $203.67 on Tuesday. The company’s fifty day moving average is $202.85 and its 200-day moving average is $183.47. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.44 and a current ratio of 3.08. First Solar, Inc. has a 52 week low of $60.77 and a 52 week high of $232.00. The company has a market capitalization of $21.76 billion, a PE ratio of 522.24 and a beta of 1.42.

First Solar (NASDAQ:FSLR – Get Rating) last released its quarterly earnings results on Thursday, April 27th. The solar cell manufacturer reported $0.40 EPS for the quarter, missing analysts’ consensus estimates of $0.99 by ($0.59). The firm had revenue of $548.29 million during the quarter, compared to analyst estimates of $716.66 million. First Solar had a net margin of 1.49% and a return on equity of 0.71%. First Solar’s quarterly revenue was up 49.4% on a year-over-year basis. During the same quarter last year, the firm earned ($0.41) earnings per share. Equities research analysts predict that First Solar, Inc. will post 7.33 earnings per share for the current fiscal year.

Insider Buying and Selling

In other First Solar news, Director William J. Post sold 10,000 shares of the business’s stock in a transaction on Tuesday, May 16th. The stock was sold at an average price of $218.52, for a total value of $2,185,200.00. Following the transaction, the director now owns 24,207 shares of the company’s stock, valued at $5,289,713.64. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other First Solar news, Director Paul H. Stebbins sold 2,500 shares of the firm’s stock in a transaction dated Friday, May 12th. The shares were sold at an average price of $229.31, for a total value of $573,275.00. Following the completion of the sale, the director now owns 28,772 shares in the company, valued at approximately $6,597,707.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director William J. Post sold 10,000 shares of the business’s stock in a transaction dated Tuesday, May 16th. The stock was sold at an average price of $218.52, for a total transaction of $2,185,200.00. Following the completion of the transaction, the director now directly owns 24,207 shares of the company’s stock, valued at $5,289,713.64. The disclosure for this sale can be found here. Insiders have sold a total of 27,000 shares of company stock worth $5,776,955 in the last three months. Insiders own 0.58% of the company’s stock.

Wall Street Analyst Weigh In

FSLR has been the subject of several recent analyst reports. Piper Sandler upped their price objective on shares of First Solar from $225.00 to $260.00 in a report on Monday, May 22nd. StockNews.com downgraded First Solar from a “hold” rating to a “sell” rating in a research report on Saturday, May 27th. UBS Group raised First Solar from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $140.00 to $250.00 in a research report on Friday, March 3rd. Robert W. Baird raised their target price on First Solar from $180.00 to $208.00 and gave the company an “outperform” rating in a report on Wednesday, March 1st. Finally, KeyCorp upped their price target on First Solar from $201.00 to $227.00 and gave the stock an “overweight” rating in a report on Monday, March 6th. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, First Solar has an average rating of “Hold” and an average price target of $210.92.

First Solar Company Profile

(Get Rating)

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.

Featured Articles

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

Receive News & Ratings for First Solar Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for First Solar and related companies with MarketBeat.com's FREE daily email newsletter.