OFI Invest Asset Management Purchases New Position in First Solar, Inc. (NASDAQ:FSLR)

OFI Invest Asset Management acquired a new position in shares of First Solar, Inc. (NASDAQ:FSLR - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 21,538 shares of the solar cell manufacturer's stock, valued at approximately $3,666,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Strengthening Families & Communities LLC bought a new position in First Solar in the 3rd quarter valued at about $25,000. Kennebec Savings Bank bought a new position in First Solar in the 3rd quarter valued at about $29,000. Larson Financial Group LLC lifted 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 acquiring an additional 107 shares in the last quarter. Smartleaf Asset Management LLC lifted 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 acquiring an additional 63 shares in the last quarter. Finally, Crews Bank & Trust bought a new position in First Solar in the 4th quarter valued at about $53,000. Institutional investors own 92.08% of the company's stock.

Insider Transactions at First Solar

In other First Solar news, CEO Mark R. Widmar sold 21,542 shares of the business's stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $141.09, for a total value of $3,039,360.78. Following the transaction, the chief executive officer now owns 103,403 shares in the company, valued at approximately $14,589,129.27. The trade was a 17.24 % 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, 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 completion of the transaction, the insider now owns 3,549 shares in the company, valued at $484,793.40. The trade was a 67.81 % decrease in their position. The disclosure for this sale can be found here. 0.58% of the stock is currently owned by insiders.

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Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on FSLR shares. Mizuho raised shares of First Solar from a "neutral" rating to an "outperform" rating and raised their price target for the company from $218.00 to $259.00 in a research report on Tuesday, February 11th. Piper Sandler dropped their target price on shares of First Solar from $250.00 to $230.00 and set an "overweight" rating on the stock in a research report on Wednesday, February 26th. JPMorgan Chase & Co. dropped their target price on shares of First Solar from $282.00 to $268.00 and set an "overweight" rating on the stock in a research report on Wednesday, February 26th. Roth Mkm reissued a "buy" rating and set a $280.00 target price on shares of First Solar in a research report on Wednesday, February 26th. Finally, Morgan Stanley dropped their target price on shares of First Solar from $297.00 to $238.00 and set an "overweight" rating on the stock in a research report on Thursday, February 27th. Four research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $262.08.

First Solar Price Performance

Shares of FSLR traded up $8.00 during mid-day trading on Friday, reaching $139.13. 3,456,379 shares of the stock traded hands, compared to its average volume of 2,725,569. The firm has a fifty day moving average price of $167.08 and a 200 day moving average price of $194.40. The company has a market cap of $14.90 billion, a price-to-earnings ratio of 11.98, a price-to-earnings-growth ratio of 0.19 and a beta of 1.52. The company has a current ratio of 2.14, a quick ratio of 1.44 and a debt-to-equity ratio of 0.05. First Solar, Inc. has a 1 year low of $124.96 and a 1 year high of $306.77.

First Solar (NASDAQ:FSLR - Get Free Report) last released its quarterly earnings results on Tuesday, February 25th. The solar cell manufacturer reported $3.65 EPS for the quarter, missing analysts' consensus estimates 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 net margin of 32.41% and a return on equity of 17.56%. As a group, equities research analysts predict that First Solar, Inc. will post 13.05 earnings per share for the current year.

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.