Czech National Bank Acquires 1,415 Shares of First Solar, Inc. (NASDAQ:FSLR)

Czech National Bank grew its holdings in shares of First Solar, Inc. (NASDAQ:FSLR) by 6.9% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,812 shares of the solar cell manufacturer’s stock after buying an additional 1,415 shares during the quarter. Czech National Bank’s holdings in First Solar were worth $5,441,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in FSLR. Granahan Investment Management LLC lifted its position in First Solar by 15.1% during the 4th quarter. Granahan Investment Management LLC now owns 101,105 shares of the solar cell manufacturer’s stock worth $17,418,000 after buying an additional 13,300 shares in the last quarter. Forest Avenue Capital Management LP lifted its position in First Solar by 15.9% during the 4th quarter. Forest Avenue Capital Management LP now owns 104,450 shares of the solar cell manufacturer’s stock worth $17,995,000 after buying an additional 14,300 shares in the last quarter. Park West Asset Management LLC bought a new stake in shares of First Solar in the 4th quarter valued at about $26,359,000. Burford Brothers Inc. bought a new stake in shares of First Solar in the 4th quarter valued at about $3,539,000. Finally, Spouting Rock Asset Management LLC bought a new stake in shares of First Solar in the 4th quarter valued at about $579,000. 92.08% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft upped their target price on shares of First Solar from $215.00 to $280.00 and gave the company a “buy” rating in a report on Friday, June 28th. Truist Financial assumed coverage on shares of First Solar in a report on Thursday, September 26th. They issued a “buy” rating and a $300.00 target price on the stock. Janney Montgomery Scott cut shares of First Solar from a “buy” rating to a “neutral” rating in a report on Tuesday, June 18th. Piper Sandler upped their target price on shares of First Solar from $219.00 to $250.00 and gave the company an “overweight” rating in a report on Monday, July 22nd. Finally, Bank of America lowered their price target on shares of First Solar from $343.00 to $321.00 and set a “buy” rating on the stock in a report on Tuesday. Four equities research analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $285.44.

First Solar Stock Performance

Shares of NASDAQ:FSLR opened at $205.04 on Friday. The company has a quick ratio of 1.65, a current ratio of 2.23 and a debt-to-equity ratio of 0.06. The firm has a market cap of $21.95 billion, a PE ratio of 21.49, a PEG ratio of 0.42 and a beta of 1.44. The company’s 50 day moving average price is $227.59 and its two-hundred day moving average price is $220.72. First Solar, Inc. has a 12-month low of $129.21 and a 12-month high of $306.77.

First Solar (NASDAQ:FSLR) last posted its quarterly earnings results on Tuesday, July 30th. The solar cell manufacturer reported $3.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.69 by $0.56. The business had revenue of $1.01 billion for the quarter, compared to analyst estimates of $939.71 million. First Solar had a net margin of 31.98% and a return on equity of 17.73%. The firm’s revenue for the quarter was up 24.6% on a year-over-year basis. During the same quarter last year, the business posted $1.85 EPS. Equities research analysts predict that First Solar, Inc. will post 13.62 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Patrick James Buehler sold 8,619 shares of the stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $222.00, for a total transaction of $1,913,418.00. Following the sale, the insider now owns 3,468 shares in the company, valued at approximately $769,896. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CAO Byron Michael Jeffers sold 500 shares of the stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $220.00, for a total value of $110,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Patrick James Buehler sold 8,619 shares of the stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $222.00, for a total transaction of $1,913,418.00. Following the completion of the transaction, the insider now directly owns 3,468 shares of the company’s stock, valued at approximately $769,896. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 10,885 shares of company stock worth $2,405,757. Corporate insiders own 0.58% of the company’s stock.

About First Solar

First Solar, Inc, a solar technology company, provides photovoltaic (PV) solar energy solutions in the United States, France, Japan, Chile, and internationally. The company manufactures and sells PV solar modules with a thin film semiconductor technology that provides a lower-carbon alternative to conventional crystalline silicon PV solar modules.