First Trust Advisors LP Buys 17,157 Shares of First Solar, Inc. (NASDAQ:FSLR)

First Trust Advisors LP boosted its position in First Solar, Inc. (NASDAQ:FSLR - Free Report) by 5.7% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 315,802 shares of the solar cell manufacturer's stock after purchasing an additional 17,157 shares during the quarter. First Trust Advisors LP owned approximately 0.29% of First Solar worth $55,657,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of FSLR. Whalen Wealth Management Inc. raised its stake in shares of First Solar by 47.0% during the 4th quarter. Whalen Wealth Management Inc. now owns 4,859 shares of the solar cell manufacturer's stock worth $856,000 after acquiring an additional 1,554 shares in the last quarter. Allspring Global Investments Holdings LLC increased its position in shares of 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 purchasing an additional 34,074 shares in the last quarter. Paragon Capital Management Inc. purchased a new stake in shares of First Solar during the 4th quarter valued at $1,240,000. Robeco Institutional Asset Management B.V. boosted its position in shares of First Solar by 9.0% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 595,267 shares of the solar cell manufacturer's stock worth $104,910,000 after purchasing an additional 49,074 shares in the last quarter. Finally, Golden State Equity Partners grew its stake in First Solar by 41,342.9% during the 4th quarter. Golden State Equity Partners now owns 2,901 shares of the solar cell manufacturer's stock worth $511,000 after buying an additional 2,894 shares during the last quarter. 92.08% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Barclays dropped their price target on First Solar from $236.00 to $204.00 and set an "overweight" rating on the stock in a research note on Friday, April 11th. JPMorgan Chase & Co. lowered their price objective on shares of First Solar from $282.00 to $268.00 and set an "overweight" rating for the company in a research note on Wednesday, February 26th. BMO Capital Markets reissued an "outperform" rating and issued a $230.00 target price (down from $260.00) on shares of First Solar in a research report on Wednesday, February 26th. Susquehanna lowered their price target on First Solar from $223.00 to $217.00 and set a "positive" rating for the company in a research report on Monday, April 14th. Finally, Seaport Res Ptn raised First Solar from a "hold" rating to a "strong-buy" rating in a report on Wednesday, January 15th. Four research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $250.58.

First Solar Trading Up 10.5 %

Shares of FSLR opened at $135.35 on Wednesday. The firm's fifty day moving average is $134.91 and its two-hundred day moving average is $170.58. The stock has a market cap of $14.49 billion, a PE ratio of 11.66, a price-to-earnings-growth ratio of 0.19 and a beta of 1.48. 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). 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. Research analysts forecast that First Solar, Inc. will post 13.05 earnings per share for the current fiscal year.

Insider Buying and Selling

In other First Solar news, CEO Mark R. Widmar sold 21,542 shares of the firm's stock in a transaction on 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 completion of the sale, the chief executive officer now directly owns 103,403 shares of the company's stock, valued at $14,589,129.27. This trade represents a 17.24 % decrease in their position. 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 the business's stock in a transaction dated 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 transaction, the insider now directly owns 3,549 shares in the company, valued at approximately $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 90 days, insiders have sold 34,311 shares of company stock worth $4,767,158. 0.48% of the stock is owned by corporate insiders.

First Solar Company 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.

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