Mizuho Securities USA LLC Boosts Stake in First Solar, Inc. (NASDAQ:FSLR)

Mizuho Securities USA LLC grew its holdings in First Solar, Inc. (NASDAQ:FSLR - Free Report) by 46.2% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 10,147 shares of the solar cell manufacturer's stock after buying an additional 3,206 shares during the period. Mizuho Securities USA LLC's holdings in First Solar were worth $1,788,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in FSLR. PNC Financial Services Group Inc. raised its position in First Solar by 5.3% during the third quarter. PNC Financial Services Group Inc. now owns 15,422 shares of the solar cell manufacturer's stock valued at $3,847,000 after purchasing an additional 777 shares during the period. Advisors Asset Management Inc. raised its holdings in First Solar by 8.6% during the 3rd quarter. Advisors Asset Management Inc. now owns 5,718 shares of the solar cell manufacturer's stock valued at $1,426,000 after buying an additional 452 shares during the period. Cerity Partners LLC boosted its stake in First Solar by 60.0% during the third quarter. Cerity Partners LLC now owns 7,457 shares of the solar cell manufacturer's stock worth $1,860,000 after buying an additional 2,796 shares during the period. Larson Financial Group LLC lifted its holdings in shares of First Solar by 214.0% in the 3rd quarter. Larson Financial Group LLC now owns 157 shares of the solar cell manufacturer's stock worth $39,000 after acquiring an additional 107 shares during the last quarter. Finally, Daiwa Securities Group Inc. boosted its stake in shares of First Solar by 5.3% during the 3rd quarter. Daiwa Securities Group Inc. now owns 23,975 shares of the solar cell manufacturer's stock worth $5,980,000 after purchasing an additional 1,208 shares during the period. 92.08% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at First Solar

In related news, CEO Mark R. Widmar sold 1,966 shares of First Solar stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $133.75, for a total value of $262,952.50. Following the completion of the transaction, the chief executive officer now owns 111,890 shares in the company, valued at $14,965,287.50. The trade was a 1.73 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Kuntal Kumar Verma sold 7,475 shares of First Solar stock in a transaction dated 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 sale, the insider now directly 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. Insiders have sold 34,311 shares of company stock worth $4,767,158 over the last quarter. 0.58% of the stock is currently owned by company insiders.

First Solar Price Performance

FSLR stock traded up $0.72 during mid-day trading on Friday, reaching $127.32. 3,085,547 shares of the company's stock were exchanged, compared to its average volume of 2,643,007. The company has a market cap of $13.63 billion, a price-to-earnings ratio of 10.97, a price-to-earnings-growth ratio of 0.19 and a beta of 1.52. The stock's 50 day moving average is $151.59 and its 200 day moving average is $185.87. 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, Inc. has a 12-month low of $124.32 and a 12-month high of $306.77.

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 analysts' consensus estimates of $4.81 by ($1.16). First Solar had a return on equity of 17.56% and a net margin of 32.41%. The firm had revenue of $1.51 billion during the quarter, compared to analyst estimates of $1.48 billion. On average, research analysts expect that First Solar, Inc. will post 13.05 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on FSLR. JPMorgan Chase & Co. dropped their target price on First Solar from $282.00 to $268.00 and set an "overweight" rating for the company in a research report on Wednesday, February 26th. Robert W. Baird decreased their price objective on shares of First Solar from $307.00 to $267.00 and set an "outperform" rating for the company in a report on Wednesday, December 18th. Piper Sandler reduced 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. Redburn Atlantic started coverage on First Solar in a report on Monday, March 3rd. They set a "neutral" rating on the stock. Finally, StockNews.com raised First Solar from a "sell" rating to a "hold" rating in a research report on Thursday, January 2nd. Four equities research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, First Solar has an average rating of "Moderate Buy" and an average target price of $262.08.

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.