Franklin Resources Inc. Grows Stock Position in First Solar, Inc. (NASDAQ:FSLR)

Franklin Resources Inc. raised its position in First Solar, Inc. (NASDAQ:FSLR - Free Report) by 15.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 151,328 shares of the solar cell manufacturer's stock after acquiring an additional 19,694 shares during the period. Franklin Resources Inc. owned approximately 0.14% of First Solar worth $26,670,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of FSLR. Vanguard Group Inc. grew its stake in First Solar by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 12,821,701 shares of the solar cell manufacturer's stock worth $2,259,697,000 after buying an additional 120,289 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of First Solar by 0.9% during the third quarter. Geode Capital Management LLC now owns 2,602,503 shares of the solar cell manufacturer's stock worth $647,440,000 after acquiring an additional 24,143 shares during the last quarter. Wellington Management Group LLP increased its holdings in shares of First Solar by 12.5% during the fourth quarter. Wellington Management Group LLP now owns 2,359,846 shares of the solar cell manufacturer's stock valued at $415,899,000 after acquiring an additional 262,482 shares in the last quarter. Amundi raised its position in shares of First Solar by 31.0% in the 4th quarter. Amundi now owns 1,805,244 shares of the solar cell manufacturer's stock valued at $336,871,000 after purchasing an additional 426,797 shares during the last quarter. Finally, Norges Bank acquired a new stake in First Solar in the 4th quarter worth approximately $317,399,000. 92.08% of the stock is owned by hedge funds and other institutional investors.

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Insider Transactions at First Solar

In related news, General Counsel Jason E. Dymbort sold 363 shares of First Solar stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $133.75, for a total transaction of $48,551.25. Following the transaction, the general counsel now owns 22,273 shares in the company, valued at approximately $2,979,013.75. This trade represents a 1.60 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Georges Antoun sold 229 shares of the firm's stock in a transaction on Monday, March 17th. The stock was sold at an average price of $133.75, for a total value of $30,628.75. Following the completion of the sale, the insider now directly owns 52,836 shares of the company's stock, valued at $7,066,815. This trade represents a 0.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 34,311 shares of company stock valued at $4,767,158. Corporate insiders own 0.58% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on FSLR shares. Bank of America lowered their price objective on shares of First Solar from $236.00 to $215.00 and set a "buy" rating for the company in a research note on Tuesday. Mizuho raised First Solar from a "neutral" rating to an "outperform" rating and lifted their price target for the stock from $218.00 to $259.00 in a research report on Tuesday, February 11th. Roth Mkm reissued a "buy" rating and issued a $280.00 price objective on shares of First Solar in a report on Wednesday, February 26th. Seaport Res Ptn raised First Solar from a "hold" rating to a "strong-buy" rating in a report on Wednesday, January 15th. Finally, Deutsche Bank Aktiengesellschaft set a $265.00 price target on shares of First Solar in a report on Thursday, February 27th. Four equities research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $256.08.

First Solar Price Performance

FSLR stock traded up $3.74 during trading on Friday, hitting $125.93. The stock had a trading volume of 2,689,100 shares, compared to its average volume of 2,733,280. The company's 50-day moving average price is $139.83 and its two-hundred day moving average price is $176.18. First Solar, Inc. has a twelve month low of $116.56 and a twelve month high of $306.77. The stock has a market capitalization of $13.48 billion, a P/E ratio of 10.85, a PEG ratio of 0.19 and a beta of 1.48. 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 (NASDAQ:FSLR - Get Free Report) last issued its quarterly 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). The firm had revenue of $1.51 billion for 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, research analysts predict that First Solar, Inc. will post 13.05 EPS for the current fiscal year.

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.