Daiwa Securities Group Inc. Acquires 793 Shares of First Solar, Inc. (NASDAQ:FSLR)

Daiwa Securities Group Inc. raised its holdings in shares of First Solar, Inc. (NASDAQ:FSLR) by 3.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 24,768 shares of the solar cell manufacturer’s stock after acquiring an additional 793 shares during the quarter. Daiwa Securities Group Inc.’s holdings in First Solar were worth $4,365,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Strengthening Families & Communities LLC bought a new stake in First Solar during the third quarter valued at about $25,000. Larson Financial Group LLC grew its position in shares of First Solar by 214.0% during the third quarter. Larson Financial Group LLC now owns 157 shares of the solar cell manufacturer’s stock valued at $39,000 after purchasing an additional 107 shares in the last quarter. Smartleaf Asset Management LLC grew its position in shares of First Solar by 31.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 262 shares of the solar cell manufacturer’s stock valued at $47,000 after purchasing an additional 63 shares in the last quarter. Crews Bank & Trust purchased a new position in shares of First Solar during the fourth quarter valued at about $53,000. Finally, Hudson Edge Investment Partners Inc. purchased a new position in shares of First Solar during the fourth quarter valued at about $53,000. 92.08% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on FSLR shares. Morgan Stanley cut their price objective on First Solar from $297.00 to $238.00 and set an “overweight” rating for the company in a research report on Thursday, February 27th. Citigroup cut their price objective on First Solar from $254.00 to $236.00 and set a “neutral” rating for the company in a research report on Wednesday, February 26th. Barclays cut their price objective on First Solar from $273.00 to $236.00 and set an “overweight” rating for the company in a research report on Friday, February 28th. JPMorgan Chase & Co. cut their price objective on First Solar from $282.00 to $268.00 and set an “overweight” rating for the company in a research report on Wednesday, February 26th. Finally, UBS Group dropped their price target on First Solar from $360.00 to $285.00 and set a “buy” rating for the company in a research report on Wednesday, February 26th. Four equities research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $262.08.

Insider Activity

In related news, insider Kuntal Kumar Verma sold 419 shares of the business’s stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $132.96, for a total value of $55,710.24. Following the completion of the transaction, the insider now owns 4,695 shares of the company’s stock, valued at $624,247.20. The trade was a 8.19 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Mark R. Widmar sold 21,542 shares of the business’s stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $141.09, for a total transaction of $3,039,360.78. Following the completion of the transaction, the chief executive officer now directly owns 103,403 shares of the company’s stock, valued at $14,589,129.27. This trade represents a 17.24 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 30,739 shares of company stock valued at $4,289,403. Corporate insiders own 0.58% of the company’s stock.

First Solar Stock Performance

First Solar stock opened at $136.04 on Thursday. The company has a 50 day moving average price of $164.63 and a 200-day moving average price of $192.76. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.44 and a current ratio of 2.14. First Solar, Inc. has a fifty-two week low of $124.96 and a fifty-two week high of $306.77. The company has a market capitalization of $14.56 billion, a PE ratio of 11.72, a P/E/G ratio of 0.19 and a beta of 1.52.

First Solar (NASDAQ:FSLR) last posted its quarterly earnings results on Tuesday, February 25th. The solar cell manufacturer reported $3.65 earnings per share for the quarter, missing the consensus estimate of $4.81 by ($1.16). First Solar had a net margin of 32.41% and a return on equity of 17.56%. The company had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.48 billion. As a group, equities analysts forecast that First Solar, Inc. will post 13.05 earnings per share for the current year.

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.