Proficio Capital Partners LLC Takes Position in First Solar, Inc. (NASDAQ:FSLR)

Proficio Capital Partners LLC purchased a new stake in First Solar, Inc. (NASDAQ:FSLR - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 49,171 shares of the solar cell manufacturer's stock, valued at approximately $8,666,000.

A number of other large investors have also recently modified their holdings of the business. Oak Grove Capital LLC grew its holdings in shares of First Solar by 77.3% during the 4th quarter. Oak Grove Capital LLC now owns 6,650 shares of the solar cell manufacturer's stock valued at $1,172,000 after purchasing an additional 2,900 shares during the last quarter. Laffer Tengler Investments Inc. increased its stake in shares of First Solar by 47.5% in the 4th quarter. Laffer Tengler Investments Inc. now owns 1,738 shares of the solar cell manufacturer's stock worth $306,000 after acquiring an additional 560 shares in the last quarter. Keybank National Association OH boosted its position in shares of First Solar by 3.3% in the 4th quarter. Keybank National Association OH now owns 5,271 shares of the solar cell manufacturer's stock worth $929,000 after purchasing an additional 169 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in First Solar by 8.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 773,292 shares of the solar cell manufacturer's stock valued at $136,285,000 after purchasing an additional 57,188 shares during the last quarter. Finally, State of Michigan Retirement System grew its holdings in shares of First Solar by 3.3% during the fourth quarter. State of Michigan Retirement System now owns 34,700 shares of the solar cell manufacturer's stock valued at $6,116,000 after buying an additional 1,100 shares during the last quarter. Institutional investors own 92.08% of the company's stock.

Remove Ads

First Solar Trading Up 1.5 %

FSLR traded up $1.90 on Wednesday, hitting $129.24. The company had a trading volume of 1,562,893 shares, compared to its average volume of 2,554,291. The business's fifty day simple moving average is $159.91 and its 200 day simple moving average is $189.73. 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, Inc. has a 12-month low of $124.96 and a 12-month high of $306.77. The company has a market cap of $13.84 billion, a PE ratio of 11.13, a PEG ratio of 0.19 and a beta of 1.52.

First Solar (NASDAQ:FSLR - Get Free Report) last released its 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. Equities research analysts expect that First Solar, Inc. will post 13.05 EPS for the current year.

Insider Transactions at First Solar

In other First Solar news, insider Georges Antoun sold 229 shares of the firm's stock in a transaction on Monday, March 17th. The stock was sold at an average price of $133.75, for a total transaction of $30,628.75. Following the transaction, the insider now directly owns 52,836 shares in the company, valued at $7,066,815. This trade represents a 0.43 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Alexander R. Bradley sold 599 shares of the company's stock in a transaction on Monday, March 17th. The stock was sold at an average price of $133.75, for a total value of $80,116.25. Following the completion of the sale, the chief financial officer now owns 45,717 shares of the company's stock, valued at $6,114,648.75. This represents a 1.29 % 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 worth $4,767,158. 0.58% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts have recently commented on FSLR shares. Truist Financial reiterated a "buy" rating and issued a $285.00 price target (down from $300.00) on shares of First Solar in a research note on Wednesday, February 26th. Piper Sandler dropped their price objective on shares of First Solar from $250.00 to $230.00 and set an "overweight" rating on the stock in a report on Wednesday, February 26th. BMO Capital Markets reaffirmed an "outperform" rating and set a $230.00 target price (down from $260.00) on shares of First Solar in a report on Wednesday, February 26th. UBS Group cut their price objective on shares of First Solar from $360.00 to $285.00 and set a "buy" rating for the company in a research report on Wednesday, February 26th. Finally, Royal Bank of Canada decreased their target price on First Solar from $280.00 to $251.00 and set an "outperform" rating on the stock in a report on Wednesday, February 26th. Four investment analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, First Solar has a consensus rating of "Moderate Buy" and a consensus target price 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.