Optimize Financial Inc Takes $1.47 Million Position in First Solar, Inc. (NASDAQ:FSLR)

Optimize Financial Inc acquired a new stake in First Solar, Inc. (NASDAQ:FSLR - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 8,332 shares of the solar cell manufacturer's stock, valued at approximately $1,468,000. First Solar comprises 1.1% of Optimize Financial Inc's holdings, making the stock its 24th biggest position.

Several other hedge funds have also added to or reduced their stakes in FSLR. Clear Harbor Asset Management LLC raised its stake in shares of First Solar by 0.6% during the fourth quarter. Clear Harbor Asset Management LLC now owns 9,210 shares of the solar cell manufacturer's stock valued at $1,623,000 after acquiring an additional 55 shares during the last quarter. Doliver Advisors LP raised its position in First Solar by 1.2% during the 4th quarter. Doliver Advisors LP now owns 4,713 shares of the solar cell manufacturer's stock worth $831,000 after purchasing an additional 56 shares during the last quarter. Smartleaf Asset Management LLC grew its position in shares of 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. Independent Advisor Alliance grew its position in shares of First Solar by 3.1% in the 4th quarter. Independent Advisor Alliance now owns 2,090 shares of the solar cell manufacturer's stock valued at $368,000 after buying an additional 63 shares during the last quarter. Finally, Huntington National Bank increased its stake in shares of First Solar by 15.3% in the fourth quarter. Huntington National Bank now owns 511 shares of the solar cell manufacturer's stock valued at $90,000 after buying an additional 68 shares during the period. 92.08% of the stock is currently owned by institutional investors and hedge funds.

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Wall Street Analyst Weigh In

FSLR has been the topic of several analyst reports. Robert W. Baird reduced their target price on First Solar from $267.00 to $240.00 and set an "outperform" rating on the stock in a report on Tuesday. Barclays decreased their price objective on shares of First Solar from $236.00 to $204.00 and set an "overweight" rating for the company in a research report on Friday. BMO Capital Markets restated an "outperform" rating and issued a $230.00 target price (down previously from $260.00) on shares of First Solar in a report on Wednesday, February 26th. StockNews.com raised First Solar from a "sell" rating to a "hold" rating in a research report on Thursday, January 2nd. Finally, Redburn Atlantic assumed coverage on First Solar in a report on Monday, March 3rd. They issued a "neutral" rating for the company. Four investment analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $251.63.

First Solar Stock Up 0.3 %

FSLR traded up $0.35 during mid-day trading on Tuesday, reaching $131.61. 260,213 shares of the stock were exchanged, compared to its average volume of 2,726,928. The company has a 50 day moving average price of $139.20 and a two-hundred day moving average price of $174.76. The stock has a market capitalization of $14.09 billion, a PE ratio of 11.36, 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, Inc. has a 1 year low of $116.56 and a 1 year high of $306.77.

First Solar (NASDAQ:FSLR - Get Free Report) last issued its quarterly earnings data on Tuesday, February 25th. The solar cell manufacturer reported $3.65 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $4.81 by ($1.16). First Solar had a return on equity of 17.56% and a net margin of 32.41%. The firm had revenue of $1.51 billion during the quarter, compared to the consensus estimate of $1.48 billion. As a group, research analysts anticipate that First Solar, Inc. will post 13.05 EPS for the current year.

Insider Activity at First Solar

In related news, CFO Alexander R. Bradley sold 599 shares of the stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $133.75, for a total transaction of $80,116.25. Following the completion of the transaction, the chief financial officer now owns 45,717 shares in the company, valued at approximately $6,114,648.75. This represents a 1.29 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Mark R. Widmar sold 1,966 shares of First Solar stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $133.75, for a total transaction of $262,952.50. Following the completion of the sale, the chief executive officer now directly owns 111,890 shares in the company, valued at approximately $14,965,287.50. This represents a 1.73 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 34,311 shares of company stock valued at $4,767,158. 0.58% of the stock is owned by insiders.

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.