Blueshift Asset Management LLC Makes New Investment in First Solar, Inc. (NASDAQ:FSLR)

Blueshift Asset Management LLC purchased a new position in shares of First Solar, Inc. (NASDAQ:FSLR - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 3,252 shares of the solar cell manufacturer's stock, valued at approximately $573,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Wellington Management Group LLP boosted its position in First Solar by 75.8% during 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 purchasing an additional 904,498 shares during the period. Mirova US LLC lifted its stake in shares of First Solar by 961.0% in the fourth quarter. Mirova US LLC now owns 646,310 shares of the solar cell manufacturer's stock worth $113,906,000 after buying an additional 585,394 shares during the last quarter. Amundi boosted its holdings in shares of First Solar by 31.0% during the 4th quarter. Amundi now owns 1,805,244 shares of the solar cell manufacturer's stock worth $336,871,000 after buying an additional 426,797 shares during the period. Merewether Investment Management LP grew its stake in First Solar by 993.4% in the 3rd quarter. Merewether Investment Management LP now owns 322,936 shares of the solar cell manufacturer's stock valued at $80,553,000 after buying an additional 293,400 shares during the last quarter. Finally, Erste Asset Management GmbH bought a new position in First Solar in the 3rd quarter worth $67,652,000. Institutional investors own 92.08% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on FSLR shares. Citigroup cut their price objective on First Solar from $254.00 to $236.00 and set a "neutral" rating for the company in a research report on Wednesday, February 26th. JPMorgan Chase & Co. reduced their price objective on First Solar from $282.00 to $268.00 and set an "overweight" rating for the company in a research report on Wednesday, February 26th. BMO Capital Markets reaffirmed an "outperform" rating and set a $230.00 target price (down previously from $260.00) on shares of First Solar in a research report 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. Finally, UBS Group reduced their target price on shares of First Solar from $360.00 to $285.00 and set a "buy" rating for the company in a research note 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 stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $262.08.

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Insider Activity

In other First Solar news, CEO Mark R. Widmar sold 21,542 shares of the business's stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $141.09, for a total value of $3,039,360.78. Following the completion of the transaction, the chief executive officer now directly owns 103,403 shares of the company's stock, valued at approximately $14,589,129.27. The trade was a 17.24 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Alexander R. Bradley sold 599 shares of the stock in a transaction dated 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 trade represents a 1.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 34,311 shares of company stock valued at $4,767,158 in the last quarter. Company insiders own 0.58% of the company's stock.

First Solar Trading Down 1.9 %

Shares of FSLR stock traded down $2.50 during trading hours on Monday, reaching $128.82. The company had a trading volume of 3,863,241 shares, compared to its average volume of 2,580,332. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.14 and a quick ratio of 1.44. First Solar, Inc. has a 1-year low of $124.96 and a 1-year high of $306.77. The firm has a market cap of $13.79 billion, a price-to-earnings ratio of 11.10, a P/E/G ratio of 0.19 and a beta of 1.52. The company has a 50 day moving average of $156.26 and a 200 day moving average of $187.86.

First Solar (NASDAQ:FSLR - Get Free Report) last released its quarterly earnings data 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). The firm had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.48 billion. First Solar had a return on equity of 17.56% and a net margin of 32.41%. On average, equities research analysts anticipate that First Solar, Inc. will post 13.05 EPS for the current year.

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.