Pictet Asset Management Holding SA Purchases 8,162 Shares of First Solar, Inc. (NASDAQ:FSLR)

Pictet Asset Management Holding SA boosted its position in First Solar, Inc. (NASDAQ:FSLR) by 14.2% during the fourth quarter, Holdings Channel.com reports. The fund owned 65,554 shares of the solar cell manufacturer’s stock after acquiring an additional 8,162 shares during the period. Pictet Asset Management Holding SA’s holdings in First Solar were worth $11,553,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in First Solar by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 12,821,701 shares of the solar cell manufacturer’s stock valued at $2,259,697,000 after purchasing an additional 120,289 shares during the period. State Street Corp increased its stake in shares of First Solar by 2.2% during the third quarter. State Street Corp now owns 4,956,633 shares of the solar cell manufacturer’s stock valued at $1,236,383,000 after buying an additional 108,984 shares during the period. Geode Capital Management LLC raised its holdings in shares of First Solar by 0.9% during the third quarter. Geode Capital Management LLC now owns 2,602,503 shares of the solar cell manufacturer’s stock valued at $647,440,000 after acquiring an additional 24,143 shares in the last quarter. Wellington Management Group LLP lifted its stake in First Solar by 75.8% in the third quarter. Wellington Management Group LLP now owns 2,097,364 shares of the solar cell manufacturer’s stock worth $523,166,000 after acquiring an additional 904,498 shares during the period. Finally, Amundi increased its position in First Solar by 31.0% during the 4th quarter. Amundi now owns 1,805,244 shares of the solar cell manufacturer’s stock valued at $336,871,000 after purchasing an additional 426,797 shares during the period. Hedge funds and other institutional investors own 92.08% of the company’s stock.

First Solar Stock Performance

Shares of FSLR stock opened at $129.82 on Thursday. The firm has a market capitalization of $13.90 billion, a PE ratio of 11.18, a P/E/G ratio of 0.19 and a beta of 1.52. The company has a 50 day moving average price of $146.99 and a 200-day moving average price of $182.93. First Solar, Inc. has a 52 week low of $120.60 and a 52 week high of $306.77. 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 released 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 firm had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.48 billion. As a group, equities research analysts expect that First Solar, Inc. will post 13.05 earnings per share for the current year.

Analyst Ratings Changes

FSLR has been the subject of several research analyst reports. Redburn Atlantic initiated coverage on shares of First Solar in a research report on Monday, March 3rd. They issued a “neutral” rating for the company. UBS Group reduced their target price on First Solar from $360.00 to $285.00 and set a “buy” rating on the stock in a report on Wednesday, February 26th. Wells Fargo & Company lowered their target price on First Solar from $240.00 to $209.00 and set an “overweight” rating for the company in a research note on Wednesday, January 8th. StockNews.com raised First Solar from a “sell” rating to a “hold” rating in a research note on Thursday, January 2nd. Finally, Roth Mkm reissued a “buy” rating and set a $280.00 price objective on shares of First Solar in a research 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. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $260.42.

Insiders Place Their Bets

In related news, CEO Mark R. Widmar sold 1,272 shares of the firm’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 $169,125.12. Following the transaction, the chief executive officer now owns 109,000 shares of the company’s stock, valued at approximately $14,492,640. This trade represents a 1.15 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Kuntal Kumar Verma sold 7,475 shares of the company’s stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $136.60, for a total transaction of $1,021,085.00. Following the sale, the insider now directly owns 3,549 shares of the company’s stock, valued at approximately $484,793.40. This represents a 67.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 34,311 shares of company stock valued at $4,767,158. 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.