Lbp Am Sa Raises Stake in First Solar, Inc. (NASDAQ:FSLR)

Lbp Am Sa lifted its stake in shares of First Solar, Inc. (NASDAQ:FSLR) by 34.3% during the 4th quarter, Holdings Channel reports. The fund owned 47,013 shares of the solar cell manufacturer’s stock after buying an additional 12,012 shares during the quarter. Lbp Am Sa’s holdings in First Solar were worth $8,286,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of FSLR. PGGM Investments acquired a new position in First Solar in the 4th quarter valued at about $953,000. Tredje AP fonden lifted its holdings in First Solar by 13.2% in the fourth quarter. Tredje AP fonden now owns 17,910 shares of the solar cell manufacturer’s stock valued at $3,156,000 after acquiring an additional 2,091 shares during the last quarter. Avantax Advisory Services Inc. grew its position in First Solar by 105.5% in the fourth quarter. Avantax Advisory Services Inc. now owns 5,210 shares of the solar cell manufacturer’s stock worth $918,000 after acquiring an additional 2,675 shares during the period. Kayne Anderson Capital Advisors LP increased its stake in First Solar by 77.1% during the fourth quarter. Kayne Anderson Capital Advisors LP now owns 49,602 shares of the solar cell manufacturer’s stock worth $8,742,000 after acquiring an additional 21,601 shares during the last quarter. Finally, Farther Finance Advisors LLC raised its position in First Solar by 14.1% in the fourth quarter. Farther Finance Advisors LLC now owns 687 shares of the solar cell manufacturer’s stock valued at $121,000 after purchasing an additional 85 shares during the period. Institutional investors and hedge funds own 92.08% of the company’s stock.

First Solar Price Performance

Shares of FSLR opened at $132.51 on Friday. The company has a current ratio of 2.14, a quick ratio of 1.44 and a debt-to-equity ratio of 0.05. The firm’s fifty day simple moving average is $162.48 and its 200-day simple moving average is $191.64. The firm has a market capitalization of $14.19 billion, a price-to-earnings ratio of 11.41, a PEG ratio of 0.19 and a beta of 1.52. First Solar, Inc. has a twelve month low of $124.96 and a twelve month high of $306.77.

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 analysts’ consensus estimates of $4.81 by ($1.16). The business had revenue of $1.51 billion during the quarter, compared to analyst estimates of $1.48 billion. First Solar had a net margin of 32.41% and a return on equity of 17.56%. Equities analysts forecast that First Solar, Inc. will post 13.05 EPS for the current fiscal year.

Insider Transactions at First Solar

In related news, insider Kuntal Kumar Verma sold 419 shares of the stock in a transaction 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 transaction, the insider now directly owns 4,695 shares of the company’s stock, valued at $624,247.20. This trade represents a 8.19 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Mark R. Widmar sold 21,542 shares of the business’s stock in a transaction on Friday, February 28th. The shares were sold at an average price of $141.09, for a total transaction of $3,039,360.78. Following the completion of the sale, the chief executive officer now directly owns 103,403 shares of the company’s stock, valued at approximately $14,589,129.27. This trade represents a 17.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 30,739 shares of company stock valued at $4,289,403. Corporate insiders own 0.58% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Piper Sandler lowered their price target on First Solar from $250.00 to $230.00 and set an “overweight” rating for the company in a report on Wednesday, February 26th. Bank of America lowered their target price on shares of First Solar from $246.00 to $236.00 and set a “buy” rating for the company in a research note on Tuesday, January 28th. Royal Bank of Canada reduced their price target on shares of First Solar from $280.00 to $251.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 26th. Deutsche Bank Aktiengesellschaft set a $265.00 price objective on shares of First Solar in a report on Thursday, February 27th. Finally, Citigroup dropped their target price on shares of First Solar from $254.00 to $236.00 and set a “neutral” rating for the company in a report on Wednesday, February 26th. Four equities research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, First Solar has an average rating of “Moderate Buy” and an average price target of $262.08.

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.