First Solar, Inc. (NASDAQ:FSLR) Shares Acquired by Korea Investment CORP

Korea Investment CORP raised its holdings in shares of First Solar, Inc. (NASDAQ:FSLR - Free Report) by 29.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 101,683 shares of the solar cell manufacturer's stock after purchasing an additional 23,383 shares during the period. Korea Investment CORP owned approximately 0.09% of First Solar worth $17,921,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the business. Wellington Management Group LLP increased its position in First Solar by 75.8% in the third quarter. Wellington Management Group LLP now owns 2,097,364 shares of the solar cell manufacturer's stock worth $523,166,000 after buying an additional 904,498 shares in the last quarter. Mirova US LLC raised its position in shares of First Solar by 961.0% during the 4th quarter. Mirova US LLC now owns 646,310 shares of the solar cell manufacturer's stock valued at $113,906,000 after purchasing an additional 585,394 shares during the period. Amundi lifted its position in shares of First Solar by 31.0% in the fourth quarter. Amundi now owns 1,805,244 shares of the solar cell manufacturer's stock valued at $336,871,000 after acquiring an additional 426,797 shares in the last quarter. Merewether Investment Management LP boosted its stake in First Solar by 993.4% in the 3rd quarter. Merewether Investment Management LP now owns 322,936 shares of the solar cell manufacturer's stock worth $80,553,000 after purchasing an additional 293,400 shares during the period. Finally, Erste Asset Management GmbH bought a new stake in First Solar in the 3rd quarter valued at $67,652,000. Hedge funds and other institutional investors own 92.08% of the company's stock.

Remove Ads

First Solar Price Performance

FSLR traded down $0.26 on Tuesday, hitting $126.18. 2,234,452 shares of the company's stock were exchanged, compared to its average volume of 2,783,073. The company has a current ratio of 2.14, a quick ratio of 1.44 and a debt-to-equity ratio of 0.05. The firm has a 50-day moving average price of $148.95 and a 200-day moving average price of $184.01. First Solar, Inc. has a fifty-two week low of $120.60 and a fifty-two week high of $306.77. The stock has a market cap of $13.51 billion, a price-to-earnings ratio of 10.86, a P/E/G ratio of 0.19 and a beta of 1.52.

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 for the quarter, missing the consensus estimate of $4.81 by ($1.16). The business had revenue of $1.51 billion during the quarter, compared to analysts' expectations 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 analysts anticipate that First Solar, Inc. will post 13.05 earnings per share for the current year.

Insider Activity at First Solar

In other First Solar news, insider Georges Antoun sold 229 shares of the firm'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 transaction, the insider now directly owns 52,836 shares of the company's stock, valued at approximately $7,066,815. This trade represents a 0.43 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Mark R. Widmar sold 21,542 shares of the firm's stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $141.09, for a total value of $3,039,360.78. Following the transaction, the chief executive officer now directly owns 103,403 shares in the company, valued at approximately $14,589,129.27. This represents a 17.24 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 34,311 shares of company stock worth $4,767,158. Company insiders own 0.58% of the company's stock.

Analyst Upgrades and Downgrades

FSLR has been the topic of a number of recent research reports. Morgan Stanley decreased their price objective on First Solar from $297.00 to $238.00 and set an "overweight" rating on the stock in a research report on Thursday, February 27th. Wells Fargo & Company lowered their target price 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. Seaport Res Ptn upgraded shares of 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 objective on shares of First Solar in a research note on Wednesday, February 26th. Finally, Truist Financial reissued a "buy" rating and set a $285.00 price target (down from $300.00) on shares of First Solar in a research note on Wednesday, February 26th. Four equities research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average 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.