Cibc World Markets Corp Raises Stock Holdings in First Solar, Inc. (NASDAQ:FSLR)

Cibc World Markets Corp raised its stake in First Solar, Inc. (NASDAQ:FSLR - Free Report) by 17.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 16,653 shares of the solar cell manufacturer's stock after purchasing an additional 2,444 shares during the period. Cibc World Markets Corp's holdings in First Solar were worth $2,935,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Larson Financial Group LLC grew its position in First Solar by 214.0% in the 3rd quarter. Larson Financial Group LLC now owns 157 shares of the solar cell manufacturer's stock valued at $39,000 after purchasing an additional 107 shares during the period. Smartleaf Asset Management LLC grew its holdings in shares of First Solar by 31.7% during the fourth 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 during the last quarter. Crews Bank & Trust bought a new stake in shares of First Solar during the fourth quarter worth about $53,000. Hudson Edge Investment Partners Inc. acquired a new stake in shares of First Solar in the 4th quarter worth about $53,000. Finally, Financial Avengers Inc. bought a new position in First Solar in the 3rd quarter valued at about $77,000. Institutional investors and hedge funds own 92.08% of the company's stock.

First Solar Price Performance

Shares of FSLR traded down $2.50 during mid-day trading on Monday, reaching $128.82. 3,861,911 shares of the stock traded hands, compared to its average volume of 2,580,330. 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 1 year low of $124.96 and a 1 year high of $306.77. The company has a market cap of $13.79 billion, a price-to-earnings ratio of 11.10, a price-to-earnings-growth ratio of 0.19 and a beta of 1.52. The firm has a fifty day moving average price of $156.26 and a 200 day moving average price of $187.86.

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First Solar (NASDAQ:FSLR - Get Free Report) last posted 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). The company 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%. As a group, equities research analysts predict that First Solar, Inc. will post 13.05 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts have commented on FSLR shares. Redburn Atlantic began coverage on First Solar in a report on Monday, March 3rd. They set a "neutral" rating for the company. Wells Fargo & Company lowered their price target on First Solar from $240.00 to $209.00 and set an "overweight" rating for the company in a research report on Wednesday, January 8th. Roth Mkm reaffirmed a "buy" rating and set a $280.00 price objective on shares of First Solar in a report on Wednesday, February 26th. Piper Sandler dropped their target price on shares of First Solar from $250.00 to $230.00 and set an "overweight" rating on the stock in a research report on Wednesday, February 26th. Finally, Mizuho raised First Solar from a "neutral" rating to an "outperform" rating and increased their price target for the company from $218.00 to $259.00 in a research report on Tuesday, February 11th. Four analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $262.08.

Insider Buying and Selling at First Solar

In related news, CEO Mark R. Widmar sold 21,542 shares of the 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 of the company's stock, valued at approximately $14,589,129.27. This trade represents a 17.24 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Kuntal Kumar Verma sold 7,475 shares of the business's stock in a transaction on Friday, February 28th. The stock was sold at an average price of $136.60, for a total transaction of $1,021,085.00. Following the completion of the sale, the insider now directly owns 3,549 shares of the company's stock, valued at $484,793.40. This represents a 67.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 34,311 shares of company stock worth $4,767,158 over the last ninety days. Insiders own 0.58% of the company's stock.

First Solar 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.