First Solar, Inc. (NASDAQ:FSLR) Shares Purchased by Amundi

Amundi raised its position in shares of First Solar, Inc. (NASDAQ:FSLR - Free Report) by 31.0% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,805,244 shares of the solar cell manufacturer's stock after purchasing an additional 426,797 shares during the quarter. Amundi owned 1.69% of First Solar worth $336,871,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in FSLR. Strengthening Families & Communities LLC purchased a new stake in shares of First Solar in the third quarter worth $25,000. Kennebec Savings Bank purchased a new stake in First Solar in the 3rd quarter worth $29,000. Larson Financial Group LLC raised its holdings in 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 acquiring an additional 107 shares during the period. Smartleaf Asset Management LLC lifted its position in shares of First Solar by 31.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 262 shares of the solar cell manufacturer's stock valued at $47,000 after acquiring an additional 63 shares in the last quarter. Finally, Crews Bank & Trust bought a new position in shares of First Solar in the fourth quarter worth about $53,000. Hedge funds and other institutional investors own 92.08% of the company's stock.

First Solar Stock Down 2.2 %

NASDAQ FSLR traded down $3.06 during midday trading on Wednesday, hitting $136.04. 2,133,550 shares of the company traded hands, compared to its average volume of 2,750,801. First Solar, Inc. has a 52 week low of $124.96 and a 52 week high of $306.77. The company's 50-day simple moving average is $165.43 and its 200-day simple moving average is $193.16. The company has a market cap of $14.56 billion, a PE ratio of 11.72, a price-to-earnings-growth ratio of 0.19 and a beta of 1.52. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.14 and a quick ratio of 1.44.

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First Solar (NASDAQ:FSLR - Get Free Report) last issued its quarterly earnings data 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 company had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.48 billion. First Solar had a net margin of 32.41% and a return on equity of 17.56%. As a group, equities research analysts forecast that First Solar, Inc. will post 13.05 earnings per share for the current year.

Insider Activity

In other news, CEO Mark R. Widmar sold 21,542 shares of the company's stock in a transaction dated 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 transaction, the chief executive officer now owns 103,403 shares in the company, valued at $14,589,129.27. This represents a 17.24 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Kuntal Kumar Verma sold 419 shares of First Solar stock in a transaction on Friday, March 7th. The stock was sold at an average price of $132.96, for a total transaction of $55,710.24. Following the sale, 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 disclosure for this sale can be found here. In the last quarter, insiders sold 30,739 shares of company stock worth $4,289,403. Insiders own 0.58% of the company's stock.

Analysts Set New Price Targets

Several research analysts have weighed in on FSLR shares. Seaport Res Ptn upgraded First Solar from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, January 15th. Wells Fargo & Company dropped their target price on shares of First Solar from $240.00 to $209.00 and set an "overweight" rating for the company in a research report on Wednesday, January 8th. Bank of America decreased their price target on shares of First Solar from $246.00 to $236.00 and set a "buy" rating on the stock in a research note on Tuesday, January 28th. Mizuho upgraded First Solar from a "neutral" rating to an "outperform" rating and raised their price objective for the company from $218.00 to $259.00 in a research report on Tuesday, February 11th. Finally, Guggenheim decreased their target price on First Solar from $335.00 to $304.00 and set a "buy" rating on the stock in a research report on Thursday, February 27th. Four analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, First Solar currently has an average rating of "Moderate Buy" and an average target price of $262.08.

First Solar Company 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.