Bridgewater Associates LP Acquires 4,974 Shares of First Solar, Inc. (NASDAQ:FSLR)

Bridgewater Associates LP lifted its position in shares of First Solar, Inc. (NASDAQ:FSLR - Free Report) by 5.5% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 94,963 shares of the solar cell manufacturer's stock after acquiring an additional 4,974 shares during the quarter. Bridgewater Associates LP owned approximately 0.09% of First Solar worth $16,736,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Smartleaf Asset Management LLC raised 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 purchasing an additional 63 shares during the period. Crews Bank & Trust purchased a new stake in shares of First Solar during the fourth quarter worth $53,000. Hudson Edge Investment Partners Inc. purchased a new position in shares of First Solar in the fourth quarter valued at $53,000. CoreFirst Bank & Trust purchased a new stake in First Solar during the 4th quarter worth about $54,000. Finally, Montag A & Associates Inc. grew its holdings in First Solar by 18.8% during the 4th quarter. Montag A & Associates Inc. now owns 475 shares of the solar cell manufacturer's stock valued at $84,000 after buying an additional 75 shares in the last quarter. 92.08% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on FSLR shares. Truist Financial reaffirmed a "buy" rating and set a $245.00 target price (down previously from $285.00) on shares of First Solar in a report on Wednesday, April 2nd. Piper Sandler reduced their target price on First Solar from $250.00 to $230.00 and set an "overweight" rating for the company in a research report on Wednesday, February 26th. Seaport Res Ptn raised First Solar from a "hold" rating to a "strong-buy" rating in a report on Wednesday, January 15th. Roth Mkm reissued a "buy" rating and issued a $280.00 price target on shares of First Solar in a research note on Wednesday, February 26th. Finally, Citigroup dropped their price objective on shares of First Solar from $254.00 to $236.00 and set a "neutral" rating for the company in a report on Wednesday, February 26th. Four research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $251.63.

First Solar Stock Up 2.9 %

NASDAQ:FSLR traded up $3.60 during mid-day trading on Friday, hitting $127.98. 2,278,470 shares of the company's stock were exchanged, compared to its average volume of 2,740,584. The business has a fifty day moving average price of $136.14 and a 200 day moving average price of $172.03. First Solar, Inc. has a one year low of $116.56 and a one year high of $306.77. The company has a market cap of $13.70 billion, a PE ratio of 11.02, a P/E/G ratio of 0.19 and a beta of 1.48. 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 (NASDAQ:FSLR - Get Free Report) last announced its quarterly earnings data on Tuesday, February 25th. The solar cell manufacturer reported $3.65 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 analysts' expectations of $1.48 billion. Equities analysts predict that First Solar, Inc. will post 13.05 EPS for the current year.

Insider Activity at First Solar

In other First Solar news, CEO Mark R. Widmar sold 21,542 shares of the company's stock in a transaction that occurred 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 completion of the sale, the chief executive officer now directly owns 103,403 shares of the company's stock, valued at approximately $14,589,129.27. This represents a 17.24 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Kuntal Kumar Verma sold 7,475 shares of the company's stock in a transaction on Friday, February 28th. The stock was sold at an average price of $136.60, for a total value of $1,021,085.00. Following the completion of the sale, the insider now owns 3,549 shares of the company's stock, valued at $484,793.40. This trade represents a 67.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 34,311 shares of company stock valued at $4,767,158. 0.48% of the stock is owned by corporate insiders.

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.