Brandywine Global Investment Management LLC Takes $11.18 Million Position in First Solar, Inc. (NASDAQ:FSLR)

Brandywine Global Investment Management LLC purchased a new stake in shares of First Solar, Inc. (NASDAQ:FSLR - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 63,454 shares of the solar cell manufacturer's stock, valued at approximately $11,183,000. Brandywine Global Investment Management LLC owned approximately 0.06% of First Solar at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. Smartleaf Asset Management LLC raised its holdings in shares of First Solar by 31.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 262 shares of the solar cell manufacturer's stock valued at $47,000 after buying an additional 63 shares in the last quarter. Crews Bank & Trust purchased a new position in shares of First Solar during the fourth quarter valued at about $53,000. Hudson Edge Investment Partners Inc. bought a new position in shares of First Solar in the 4th quarter worth approximately $53,000. CoreFirst Bank & Trust bought a new stake in shares of First Solar during the 4th quarter valued at $54,000. Finally, Financial Avengers Inc. purchased a new position in First Solar during the 3rd quarter valued at about $77,000. 92.08% of the stock is owned by institutional investors.

Insider Transactions at First Solar

In other news, insider Georges Antoun sold 229 shares of First Solar stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $133.75, for a total transaction of $30,628.75. Following the completion of the sale, the insider now directly owns 52,836 shares in the company, valued at $7,066,815. The trade was a 0.43 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Mark R. Widmar sold 21,542 shares of the firm's stock in a transaction on 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 position. The disclosure for this sale can be found here. Insiders have sold a total of 34,311 shares of company stock valued at $4,767,158 over the last ninety days. Corporate insiders own 0.58% of the company's stock.

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First Solar Stock Performance

FSLR traded up $2.25 during trading on Wednesday, reaching $129.82. 1,938,951 shares of the company were exchanged, compared to its average volume of 2,647,140. The company has a current ratio of 2.14, a quick ratio of 1.44 and a debt-to-equity ratio of 0.05. First Solar, Inc. has a 52 week low of $120.60 and a 52 week high of $306.77. The firm has a 50 day moving average of $147.83 and a 200 day moving average of $183.30. The stock has a market cap of $13.90 billion, a P/E ratio of 11.18, a PEG ratio of 0.19 and a beta of 1.52.

First Solar (NASDAQ:FSLR - Get Free Report) last issued its quarterly earnings results on Tuesday, February 25th. The solar cell manufacturer reported $3.65 earnings per share (EPS) 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 analyst estimates of $1.48 billion. First Solar had a net margin of 32.41% and a return on equity of 17.56%. On average, sell-side analysts forecast that First Solar, Inc. will post 13.05 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have weighed in on FSLR. UBS Group decreased 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. Mizuho raised First Solar from a "neutral" rating to an "outperform" rating and lifted their target price for the company from $218.00 to $259.00 in a research note on Tuesday, February 11th. Morgan Stanley reduced their target price on First Solar from $297.00 to $238.00 and set an "overweight" rating on the stock in a report on Thursday, February 27th. Royal Bank of Canada decreased their target price on shares of First Solar from $280.00 to $251.00 and set an "outperform" rating on the stock in a research report on Wednesday, February 26th. Finally, Seaport Res Ptn raised shares of First Solar from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, January 15th. Four 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 stock. According to MarketBeat.com, First Solar presently has an average rating of "Moderate Buy" and a consensus price target of $260.42.

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.