HighTower Advisors LLC Acquires 3,502 Shares of First Solar, Inc. (NASDAQ:FSLR)

HighTower Advisors LLC boosted its position in First Solar, Inc. (NASDAQ:FSLR - Free Report) by 6.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 55,550 shares of the solar cell manufacturer's stock after purchasing an additional 3,502 shares during the period. HighTower Advisors LLC owned about 0.05% of First Solar worth $9,790,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Whalen Wealth Management Inc. increased its position in First Solar by 47.0% during the fourth quarter. Whalen Wealth Management Inc. now owns 4,859 shares of the solar cell manufacturer's stock worth $856,000 after buying an additional 1,554 shares in the last quarter. Allspring Global Investments Holdings LLC increased its position in First Solar by 665.8% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 39,192 shares of the solar cell manufacturer's stock worth $7,308,000 after buying an additional 34,074 shares in the last quarter. Stifel Financial Corp increased its position in First Solar by 36.9% during the third quarter. Stifel Financial Corp now owns 21,446 shares of the solar cell manufacturer's stock worth $5,350,000 after buying an additional 5,780 shares in the last quarter. Paragon Capital Management Inc. purchased a new position in First Solar during the fourth quarter worth $1,240,000. Finally, Robeco Institutional Asset Management B.V. increased its position in First Solar by 9.0% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 595,267 shares of the solar cell manufacturer's stock worth $104,910,000 after buying an additional 49,074 shares in the last quarter. Hedge funds and other institutional investors own 92.08% of the company's stock.

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Insider Activity

In other First Solar news, insider Georges Antoun sold 229 shares of the business's stock in a transaction on Monday, March 17th. The shares were sold at an average price of $133.75, for a total transaction of $30,628.75. Following the sale, the insider now directly owns 52,836 shares of the company's stock, valued at $7,066,815. The trade was a 0.43 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Mark R. Widmar sold 1,966 shares of the business's stock in a transaction on Monday, March 17th. The shares were sold at an average price of $133.75, for a total transaction of $262,952.50. Following the sale, the chief executive officer now directly owns 111,890 shares in the company, valued at approximately $14,965,287.50. This trade represents a 1.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 34,311 shares of company stock worth $4,767,158. Insiders own 0.58% of the company's stock.

First Solar Stock Up 2.2 %

Shares of NASDAQ FSLR traded up $2.86 during midday trading on Friday, reaching $131.32. 4,507,737 shares of the company's stock were exchanged, compared to its average volume of 2,566,027. First Solar, Inc. has a 52-week low of $124.96 and a 52-week high of $306.77. The stock has a market capitalization of $14.06 billion, a PE ratio of 11.31, a price-to-earnings-growth ratio of 0.19 and a beta of 1.52. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.44 and a current ratio of 2.14. The business's fifty day moving average price is $157.42 and its two-hundred day moving average price is $188.89.

First Solar (NASDAQ:FSLR - Get Free Report) last issued 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 business had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.48 billion. First Solar had a return on equity of 17.56% and a net margin of 32.41%. Analysts forecast that First Solar, Inc. will post 13.05 EPS for the current year.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Bank of America dropped their price target on First Solar from $246.00 to $236.00 and set a "buy" rating for the company in a research report on Tuesday, January 28th. UBS Group lowered their price objective on First Solar from $360.00 to $285.00 and set a "buy" rating for the company in a research report on Wednesday, February 26th. Redburn Atlantic initiated coverage on First Solar in a research report on Monday, March 3rd. They issued a "neutral" rating for the company. Seaport Res Ptn raised First Solar from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, January 15th. Finally, Royal Bank of Canada lowered their price objective on First Solar from $280.00 to $251.00 and set an "outperform" rating for the company in a research 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, First Solar currently has a consensus rating of "Moderate Buy" and a consensus price target of $262.08.

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.