Robeco Institutional Asset Management B.V. Grows Stock Position in First Solar, Inc. (NASDAQ:FSLR)

Robeco Institutional Asset Management B.V. grew its holdings in First Solar, Inc. (NASDAQ:FSLR - Free Report) by 1,757.2% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 546,193 shares of the solar cell manufacturer's stock after buying an additional 516,783 shares during the period. Robeco Institutional Asset Management B.V. owned 0.51% of First Solar worth $136,242,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of FSLR. Nvwm LLC increased its position in First Solar by 122,080.0% during the third quarter. Nvwm LLC now owns 6,109 shares of the solar cell manufacturer's stock worth $1,524,000 after purchasing an additional 6,104 shares during the last quarter. Fullcircle Wealth LLC purchased a new position in shares of First Solar in the third quarter valued at approximately $349,000. Gladstone Institutional Advisory LLC boosted its stake in shares of First Solar by 33.3% in the third quarter. Gladstone Institutional Advisory LLC now owns 1,739 shares of the solar cell manufacturer's stock valued at $434,000 after purchasing an additional 434 shares during the period. SteelPeak Wealth LLC purchased a new position in shares of First Solar in the third quarter valued at approximately $437,000. Finally, Pinnacle Associates Ltd. boosted its stake in shares of First Solar by 12.4% in the third quarter. Pinnacle Associates Ltd. now owns 2,213 shares of the solar cell manufacturer's stock valued at $552,000 after purchasing an additional 244 shares during the period. 92.08% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at First Solar

In other First Solar news, CAO Byron Michael Jeffers sold 500 shares of the business's stock in a transaction on Monday, August 12th. The shares were sold at an average price of $220.00, for a total transaction of $110,000.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other First Solar news, CAO Byron Michael Jeffers sold 500 shares of the business's stock in a transaction on Monday, August 12th. The shares were sold at an average price of $220.00, for a total transaction of $110,000.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Patrick James Buehler sold 8,619 shares of the business's stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $222.00, for a total transaction of $1,913,418.00. Following the sale, the insider now owns 3,468 shares in the company, valued at $769,896. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 10,885 shares of company stock valued at $2,405,757. 0.58% of the stock is owned by company insiders.

First Solar Stock Performance

FSLR traded up $7.34 during trading on Monday, hitting $212.28. The stock had a trading volume of 5,896,890 shares, compared to its average volume of 2,443,723. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.65 and a current ratio of 2.14. The firm has a market capitalization of $22.73 billion, a P/E ratio of 18.28, a PEG ratio of 0.34 and a beta of 1.48. The company's 50-day moving average price is $221.68 and its 200 day moving average price is $224.61. First Solar, Inc. has a twelve month low of $129.21 and a twelve month high of $306.77.

First Solar (NASDAQ:FSLR - Get Free Report) last announced its quarterly earnings data on Tuesday, October 29th. The solar cell manufacturer reported $2.91 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.10 by ($0.19). The firm had revenue of $887.70 million during the quarter, compared to analyst estimates of $1.07 billion. First Solar had a net margin of 32.41% and a return on equity of 17.56%. The business's quarterly revenue was up 10.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.50 earnings per share. On average, equities research analysts forecast that First Solar, Inc. will post 13.12 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on FSLR. UBS Group lifted their price target on shares of First Solar from $350.00 to $360.00 and gave the stock a "buy" rating in a research note on Wednesday, July 31st. Jefferies Financial Group decreased their price target on shares of First Solar from $271.00 to $266.00 and set a "buy" rating for the company in a research note on Thursday, October 10th. Truist Financial began coverage on shares of First Solar in a research note on Thursday, September 26th. They issued a "buy" rating and a $300.00 price target for the company. Citigroup upgraded shares of First Solar from a "neutral" rating to a "buy" rating and lifted their price target for the stock from $200.00 to $254.00 in a research note on Tuesday, October 22nd. Finally, Roth Mkm decreased their price target on shares of First Solar from $320.00 to $280.00 and set a "buy" rating for the company in a research note on Tuesday, October 15th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, First Solar presently has an average rating of "Moderate Buy" and an average price target of $281.13.

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.