Mizuho Securities USA LLC Increases Holdings in First Solar, Inc. (NASDAQ:FSLR)

Mizuho Securities USA LLC boosted its position in First Solar, Inc. (NASDAQ:FSLR) by 46.2% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,147 shares of the solar cell manufacturer’s stock after purchasing an additional 3,206 shares during the period. Mizuho Securities USA LLC’s holdings in First Solar were worth $1,788,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. PNC Financial Services Group Inc. increased its position in shares of First Solar by 5.3% in the third quarter. PNC Financial Services Group Inc. now owns 15,422 shares of the solar cell manufacturer’s stock valued at $3,847,000 after buying an additional 777 shares in the last quarter. Advisors Asset Management Inc. increased its holdings in First Solar by 8.6% during the 3rd quarter. Advisors Asset Management Inc. now owns 5,718 shares of the solar cell manufacturer’s stock valued at $1,426,000 after acquiring an additional 452 shares in the last quarter. Cerity Partners LLC raised its position in First Solar by 60.0% during the third quarter. Cerity Partners LLC now owns 7,457 shares of the solar cell manufacturer’s stock worth $1,860,000 after acquiring an additional 2,796 shares during the last quarter. Larson Financial Group LLC lifted its holdings in shares of First Solar by 214.0% in 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. Finally, Daiwa Securities Group Inc. grew its position in shares of First Solar by 5.3% in the third quarter. Daiwa Securities Group Inc. now owns 23,975 shares of the solar cell manufacturer’s stock valued at $5,980,000 after purchasing an additional 1,208 shares during the last quarter. 92.08% of the stock is owned by institutional investors and hedge funds.

First Solar Trading Down 1.9 %

Shares of FSLR stock opened at $128.82 on Tuesday. First Solar, Inc. has a fifty-two week low of $124.96 and a fifty-two week high of $306.77. The firm’s 50 day moving average price is $155.16 and its two-hundred day moving average price is $187.25. The stock has a market cap of $13.79 billion, a price-to-earnings ratio of 11.10, a price-to-earnings-growth ratio of 0.19 and a beta of 1.52. The company has a quick ratio of 1.44, a current ratio of 2.14 and a debt-to-equity ratio of 0.05.

First Solar (NASDAQ:FSLR) last announced 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). First Solar had a return on equity of 17.56% and a net margin of 32.41%. The business had revenue of $1.51 billion for the quarter, compared to analysts’ expectations of $1.48 billion. On average, analysts anticipate that First Solar, Inc. will post 13.05 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on FSLR. Robert W. Baird reduced their target price on First Solar from $307.00 to $267.00 and set an “outperform” rating on the stock in a research note on Wednesday, December 18th. Barclays decreased their price objective on First Solar from $273.00 to $236.00 and set an “overweight” rating on the stock in a research note on Friday, February 28th. Citigroup cut their target price on shares of First Solar from $254.00 to $236.00 and set a “neutral” rating for the company in a research note on Wednesday, February 26th. Redburn Atlantic initiated coverage on shares of First Solar in a research note on Monday, March 3rd. They set a “neutral” rating on the stock. Finally, Deutsche Bank Aktiengesellschaft set a $265.00 price objective on shares of First Solar in a research report on Thursday, February 27th. Four research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $262.08.

Insider Activity

In other First Solar news, CEO Mark R. Widmar sold 1,966 shares of the company’s stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $133.75, for a total value of $262,952.50. Following the completion of the transaction, the chief executive officer now owns 111,890 shares in the company, valued at $14,965,287.50. This represents a 1.73 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO Markus Gloeckler sold 380 shares of First Solar stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $133.75, for a total transaction of $50,825.00. Following the sale, the chief technology officer now owns 17,594 shares in the company, valued at $2,353,197.50. This represents a 2.11 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 34,311 shares of company stock worth $4,767,158. 0.58% of the stock is currently owned by corporate insiders.

First Solar Profile

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.