First Solar, Inc. (NASDAQ:FSLR) Shares Acquired by LGT Group Foundation

LGT Group Foundation lifted its holdings in shares of First Solar, Inc. (NASDAQ:FSLR - Free Report) by 77.6% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 40,100 shares of the solar cell manufacturer's stock after buying an additional 17,527 shares during the period. LGT Group Foundation's holdings in First Solar were worth $7,067,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Strengthening Families & Communities LLC acquired a new stake in First Solar during the 3rd quarter worth approximately $25,000. Kennebec Savings Bank acquired a new stake in shares of First Solar during the third quarter worth $29,000. Larson Financial Group LLC grew its position in First Solar by 214.0% in the 3rd quarter. Larson Financial Group LLC now owns 157 shares of the solar cell manufacturer's stock valued at $39,000 after buying an additional 107 shares during the last quarter. Smartleaf Asset Management LLC grew its position in First Solar by 31.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 262 shares of the solar cell manufacturer's stock valued at $47,000 after buying an additional 63 shares during the last quarter. Finally, Crews Bank & Trust acquired a new position in First Solar in the 4th quarter valued at $53,000. Hedge funds and other institutional investors own 92.08% of the company's stock.

Analyst Ratings Changes

FSLR has been the subject of several recent analyst reports. Seaport Res Ptn upgraded shares of First Solar from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, January 15th. Piper Sandler lowered their price objective on First Solar from $250.00 to $230.00 and set an "overweight" rating on the stock in a report on Wednesday, February 26th. Wells Fargo & Company cut their target price on First Solar from $240.00 to $209.00 and set an "overweight" rating for the company in a research note on Wednesday, January 8th. Roth Mkm reissued a "buy" rating and issued a $280.00 price target on shares of First Solar in a report on Wednesday, February 26th. Finally, Bank of America dropped their price objective on First Solar from $246.00 to $236.00 and set a "buy" rating on the stock in a report on Tuesday, January 28th. Four investment analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $262.08.

Insider Buying and Selling

In other First Solar news, insider Kuntal Kumar Verma sold 7,475 shares of the company's stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $136.60, for a total transaction of $1,021,085.00. Following the completion of the sale, the insider now directly owns 3,549 shares in the company, valued at $484,793.40. This represents a 67.81 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 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 completion of the transaction, the chief executive officer now owns 103,403 shares in the company, valued at approximately $14,589,129.27. This trade represents a 17.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.58% of the stock is currently owned by company insiders.

First Solar Trading Down 6.3 %

NASDAQ:FSLR traded down $8.55 on Monday, reaching $127.63. The stock had a trading volume of 4,694,070 shares, compared to its average volume of 2,661,246. First Solar, Inc. has a 12-month low of $126.54 and a 12-month high of $306.77. The company has a market cap of $13.66 billion, a price-to-earnings ratio of 10.99, a P/E/G ratio of 0.19 and a beta of 1.47. The firm's fifty day moving average is $171.20 and its two-hundred day moving average is $196.97. 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 earnings per share 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 during the quarter, compared to analyst estimates of $1.48 billion. Equities analysts expect 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.