Raymond James Financial Inc. Makes New $4.93 Million Investment in First Solar, Inc. (NASDAQ:FSLR)

Raymond James Financial Inc. purchased a new position in First Solar, Inc. (NASDAQ:FSLR - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 27,988 shares of the solar cell manufacturer's stock, valued at approximately $4,933,000.

A number of other institutional investors also recently bought and sold shares of the stock. Wellington Management Group LLP lifted its holdings in shares of First Solar by 75.8% in the 3rd quarter. Wellington Management Group LLP now owns 2,097,364 shares of the solar cell manufacturer's stock worth $523,166,000 after acquiring an additional 904,498 shares during the last quarter. Merewether Investment Management LP lifted its stake in First Solar by 993.4% in the third quarter. Merewether Investment Management LP now owns 322,936 shares of the solar cell manufacturer's stock worth $80,553,000 after purchasing an additional 293,400 shares during the last quarter. Erste Asset Management GmbH purchased a new position in shares of First Solar during the third quarter valued at approximately $67,652,000. Handelsbanken Fonder AB grew its stake in shares of First Solar by 110.4% during the fourth quarter. Handelsbanken Fonder AB now owns 375,010 shares of the solar cell manufacturer's stock valued at $66,092,000 after buying an additional 196,744 shares during the last quarter. Finally, Clean Energy Transition LLP raised its holdings in shares of First Solar by 37.8% in the third quarter. Clean Energy Transition LLP now owns 686,700 shares of the solar cell manufacturer's stock worth $171,290,000 after buying an additional 188,205 shares during the period. 92.08% of the stock is currently owned by institutional investors.

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Wall Street Analysts Forecast Growth

Several equities analysts have commented on FSLR shares. StockNews.com raised First Solar from a "sell" rating to a "hold" rating in a research report on Thursday, January 2nd. Deutsche Bank Aktiengesellschaft set a $265.00 price target on shares of First Solar in a research note on Thursday, February 27th. Wells Fargo & Company dropped their target price on shares of First Solar from $240.00 to $209.00 and set an "overweight" rating on the stock in a research note on Wednesday, January 8th. Truist Financial reiterated a "buy" rating and issued a $285.00 price target (down previously from $300.00) on shares of First Solar in a report on Wednesday, February 26th. Finally, Seaport Res Ptn raised First Solar from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, January 15th. Four analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, First Solar has an average rating of "Moderate Buy" and a consensus target price of $262.08.

First Solar Stock Performance

FSLR traded up $1.76 during trading on Friday, reaching $128.36. 1,277,738 shares of the company's stock were exchanged, compared to its average volume of 2,634,364. The company's fifty day simple moving average is $151.59 and its 200-day simple moving average is $185.87. The stock has a market capitalization of $13.74 billion, a P/E ratio of 11.06, a price-to-earnings-growth ratio of 0.19 and a beta of 1.52. 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, Inc. has a 1 year low of $124.32 and a 1 year high of $306.77.

First Solar (NASDAQ:FSLR - Get Free Report) last posted its earnings results 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 net margin of 32.41% and a return on equity of 17.56%. The business had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.48 billion. As a group, research analysts predict that First Solar, Inc. will post 13.05 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Mark R. Widmar sold 21,542 shares of the stock in a transaction dated Friday, February 28th. The shares were 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 directly owns 103,403 shares of the company's stock, valued at $14,589,129.27. This represents a 17.24 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Georges Antoun sold 229 shares of the business's stock in a transaction that occurred on Monday, March 17th. The shares were 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 $7,066,815. This trade represents a 0.43 % 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 valued at $4,767,158 in the last three months. 0.58% of the stock is currently owned by corporate insiders.

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.