Schroder Investment Management Group Acquires 92,881 Shares of First Solar, Inc. (NASDAQ:FSLR)

Schroder Investment Management Group raised its position in shares of First Solar, Inc. (NASDAQ:FSLR - Free Report) by 7.4% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,347,095 shares of the solar cell manufacturer's stock after purchasing an additional 92,881 shares during the period. Schroder Investment Management Group owned approximately 1.26% of First Solar worth $237,412,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Larson Financial Group LLC lifted its stake in First Solar by 214.0% in the third quarter. Larson Financial Group LLC now owns 157 shares of the solar cell manufacturer's stock worth $39,000 after purchasing an additional 107 shares during the last quarter. Smartleaf Asset Management LLC boosted its holdings in First Solar by 31.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 262 shares of the solar cell manufacturer's stock valued at $47,000 after acquiring an additional 63 shares during the period. Crews Bank & Trust bought a new position in First Solar during the 4th quarter worth approximately $53,000. Hudson Edge Investment Partners Inc. purchased a new position in First Solar in the 4th quarter worth approximately $53,000. Finally, CoreFirst Bank & Trust bought a new stake in First Solar in the fourth quarter valued at approximately $54,000. Institutional investors own 92.08% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on FSLR. Mizuho upgraded shares of First Solar from a "neutral" rating to an "outperform" rating and raised their target price for the stock from $218.00 to $259.00 in a report on Tuesday, February 11th. Piper Sandler cut their price target on shares of First Solar from $250.00 to $230.00 and set an "overweight" rating on the stock in a report on Wednesday, February 26th. UBS Group dropped their target price on shares of First Solar from $360.00 to $285.00 and set a "buy" rating for the company in a report on Wednesday, February 26th. Morgan Stanley cut their target price on First Solar from $297.00 to $238.00 and set an "overweight" rating on the stock in a research note on Thursday, February 27th. Finally, Roth Mkm reaffirmed a "buy" rating and set a $280.00 price target on shares of First Solar in a research report on Wednesday, February 26th. Four analysts have rated the stock with a hold rating, twenty-three have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, First Solar presently has an average rating of "Moderate Buy" and an average price target of $262.08.

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First Solar Stock Up 1.0 %

Shares of NASDAQ:FSLR traded up $1.25 during trading on Tuesday, reaching $127.68. 2,777,491 shares of the stock traded hands, compared to its average volume of 2,646,851. The stock has a market cap of $13.67 billion, a P/E ratio of 11.00, 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 stock has a 50-day moving average of $148.95 and a two-hundred day moving average of $184.01. First Solar, Inc. has a 52-week low of $120.60 and a 52-week high of $306.77.

First Solar (NASDAQ:FSLR - Get Free Report) last issued its earnings results on Tuesday, February 25th. The solar cell manufacturer reported $3.65 EPS for the quarter, missing the consensus estimate of $4.81 by ($1.16). First Solar had a net margin of 32.41% and a return on equity of 17.56%. The business had revenue of $1.51 billion for the quarter, compared to analysts' expectations of $1.48 billion. As a group, sell-side analysts expect that First Solar, Inc. will post 13.05 earnings per share for the current fiscal year.

Insider Activity

In other First Solar news, CFO Alexander R. Bradley sold 599 shares of the firm's stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $133.75, for a total value of $80,116.25. Following the transaction, the chief financial officer now directly owns 45,717 shares of the company's stock, valued at approximately $6,114,648.75. This trade represents a 1.29 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CTO Markus Gloeckler sold 380 shares of the company's stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $133.75, for a total transaction of $50,825.00. Following the sale, the chief technology officer now directly owns 17,594 shares of the company's stock, valued at $2,353,197.50. The trade was a 2.11 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 34,311 shares of company stock valued at $4,767,158 in the last 90 days. 0.58% 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.