Hsbc Holdings PLC Grows Stock Position in First Solar, Inc. (NASDAQ:FSLR)

Hsbc Holdings PLC raised its position in First Solar, Inc. (NASDAQ:FSLR - Free Report) by 38.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 622,212 shares of the solar cell manufacturer's stock after purchasing an additional 172,167 shares during the quarter. Hsbc Holdings PLC owned 0.58% of First Solar worth $109,784,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in First Solar during the 4th quarter worth about $317,399,000. Demars Financial Group LLC lifted its position in shares of First Solar by 17,404.5% during the fourth quarter. Demars Financial Group LLC now owns 722,760 shares of the solar cell manufacturer's stock worth $127,379,000 after purchasing an additional 718,631 shares in the last quarter. Mirova US LLC boosted its stake in shares of First Solar by 961.0% in the fourth 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 grew its holdings 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 purchasing an additional 426,797 shares in the last quarter. Finally, Wellington Management Group LLP increased its stake in First Solar by 12.5% during the 4th quarter. Wellington Management Group LLP now owns 2,359,846 shares of the solar cell manufacturer's stock worth $415,899,000 after buying an additional 262,482 shares during the period. 92.08% of the stock is currently owned by institutional investors and hedge funds.

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 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 owns 52,836 shares of the company's stock, valued at approximately $7,066,815. This trade represents a 0.43 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Mark R. Widmar sold 21,542 shares of the business's stock in a transaction on Friday, February 28th. The stock was sold at an average price of $141.09, for a total transaction of $3,039,360.78. Following the sale, the chief executive officer now owns 103,403 shares in the company, valued at $14,589,129.27. The trade was a 17.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 34,311 shares of company stock worth $4,767,158 over the last 90 days. Company insiders own 0.48% of the company's stock.

First Solar Stock Performance

First Solar stock traded up $5.42 during mid-day trading on Friday, reaching $141.86. 2,698,287 shares of the company were exchanged, compared to its average volume of 2,783,160. The firm's 50-day simple moving average is $133.46 and its two-hundred day simple moving average is $168.70. First Solar, Inc. has a twelve month low of $116.56 and a twelve month high of $306.77. The firm has a market cap of $15.21 billion, a PE ratio of 12.22, a price-to-earnings-growth ratio of 0.19 and a beta of 1.48. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.44 and a current ratio of 2.14.

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 for the quarter, missing the consensus estimate of $4.81 by ($1.16). The company had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.48 billion. First Solar had a return on equity of 17.56% and a net margin of 32.41%. Equities analysts predict that First Solar, Inc. will post 13.05 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Barclays dropped their price target on shares of First Solar from $236.00 to $204.00 and set an "overweight" rating for the company in a research note on Friday, April 11th. Redburn Atlantic assumed coverage on First Solar in a research note on Monday, March 3rd. They set a "neutral" rating for the company. BMO Capital Markets reaffirmed an "outperform" rating and issued a $230.00 price target (down previously from $260.00) on shares of First Solar in a research report on Wednesday, February 26th. JPMorgan Chase & Co. lowered their price objective 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. Finally, Piper Sandler reduced their target price on shares of First Solar from $230.00 to $205.00 and set an "overweight" rating on the stock in a report on Monday, April 21st. Four investment analysts have rated the stock with a hold rating, twenty-three have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, First Solar presently has an average rating of "Moderate Buy" and an average target price of $249.96.

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.