First Solar, Inc. (NASDAQ:FSLR) Position Raised by Cohen & Steers Inc.

Cohen & Steers Inc. lifted its position in shares of First Solar, Inc. (NASDAQ:FSLR - Free Report) by 40.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 24,302 shares of the solar cell manufacturer's stock after acquiring an additional 7,051 shares during the quarter. Cohen & Steers Inc.'s holdings in First Solar were worth $4,283,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Smartleaf Asset Management LLC increased its stake 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 worth $47,000 after purchasing an additional 63 shares in the last quarter. Crews Bank & Trust purchased a new stake in shares of First Solar in the 4th quarter valued at approximately $53,000. Hudson Edge Investment Partners Inc. purchased a new stake in First Solar in the fourth quarter valued at $53,000. CoreFirst Bank & Trust acquired a new position in shares of First Solar in the 4th quarter worth approximately $54,000. Finally, Montag A & Associates Inc. increased its holdings in First Solar by 18.8% in the 4th quarter. Montag A & Associates Inc. now owns 475 shares of the solar cell manufacturer's stock valued at $84,000 after purchasing an additional 75 shares during the last quarter. Hedge funds and other institutional investors own 92.08% of the company's stock.

Wall Street Analyst Weigh In

FSLR has been the subject of a number of research reports. Truist Financial reaffirmed a "buy" rating and issued a $245.00 price objective (down from $285.00) on shares of First Solar in a research note on Wednesday, April 2nd. Robert W. Baird decreased their price target on shares of First Solar from $267.00 to $240.00 and set an "outperform" rating for the company in a research report on Tuesday. Wells Fargo & Company lowered their price target on shares of First Solar from $240.00 to $209.00 and set an "overweight" rating for the company in a report on Wednesday, January 8th. Guggenheim reduced their price target on shares of First Solar from $304.00 to $253.00 and set a "buy" rating for the company in a research report on Monday, April 7th. Finally, Redburn Atlantic began coverage on First Solar in a research report on Monday, March 3rd. They issued a "neutral" rating for the company. 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 data from MarketBeat, First Solar currently has an average rating of "Moderate Buy" and a consensus price target of $251.63.

First Solar Stock Up 2.9 %

Shares of FSLR traded up $3.60 during midday trading on Friday, hitting $127.98. The company had a trading volume of 2,278,470 shares, compared to its average volume of 2,742,666. The stock has a market cap of $13.70 billion, a price-to-earnings ratio of 11.02, a PEG ratio of 0.19 and a beta of 1.48. The company's 50 day moving average price is $136.14 and its 200 day moving average price is $172.46. The company has a quick ratio of 1.44, a current ratio of 2.14 and a debt-to-equity ratio of 0.05. First Solar, Inc. has a 52 week low of $116.56 and a 52 week high of $306.77.

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 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, equities research analysts predict that First Solar, Inc. will post 13.05 EPS for the current year.

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 shares were sold at an average price of $141.09, for a total transaction 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 $14,589,129.27. The trade was a 17.24 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Kuntal Kumar Verma sold 7,475 shares of the firm's stock in a transaction that occurred on Friday, February 28th. The shares were 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 owns 3,549 shares in the company, valued at $484,793.40. The trade was a 67.81 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 34,311 shares of company stock valued at $4,767,158. 0.48% of the stock is currently owned by insiders.

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.