Resona Asset Management Co. Ltd. Acquires Shares of 30,809 First Solar, Inc. (NASDAQ:FSLR)

Resona Asset Management Co. Ltd. bought a new position in shares of First Solar, Inc. (NASDAQ:FSLR - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 30,809 shares of the solar cell manufacturer's stock, valued at approximately $5,458,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Clear Harbor Asset Management LLC raised its holdings 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 purchasing an additional 55 shares during the period. Doliver Advisors LP increased its holdings in shares of First Solar by 1.2% during the fourth quarter. Doliver Advisors LP now owns 4,713 shares of the solar cell manufacturer's stock valued at $831,000 after acquiring an additional 56 shares in the last quarter. Smartleaf Asset Management LLC lifted its holdings 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 worth $47,000 after purchasing an additional 63 shares in the last quarter. Independent Advisor Alliance grew its position in 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 purchasing an additional 63 shares during the period. Finally, Huntington National Bank increased its stake in First Solar by 15.3% during the 4th quarter. Huntington National Bank now owns 511 shares of the solar cell manufacturer's stock valued at $90,000 after purchasing an additional 68 shares in the last quarter. Institutional investors and hedge funds own 92.08% of the company's stock.

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Analysts Set New Price Targets

FSLR has been the subject of several recent research reports. Citigroup decreased their target price on shares of First Solar from $254.00 to $236.00 and set a "neutral" rating for the company in a research report on Wednesday, February 26th. Morgan Stanley lowered their price target on First Solar from $297.00 to $238.00 and set an "overweight" rating for the company in a research report on Thursday, February 27th. 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. JPMorgan Chase & Co. dropped their price target 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. Finally, Robert W. Baird cut their price target on shares of First Solar from $307.00 to $267.00 and set an "outperform" rating on the stock in a report on Wednesday, December 18th. Four equities research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $256.08.

First Solar Stock Up 3.9 %

FSLR stock traded up $4.85 during midday trading on Monday, hitting $130.78. The stock had a trading volume of 600,317 shares, compared to its average volume of 2,728,512. First Solar, Inc. has a 52-week low of $116.56 and a 52-week high of $306.77. The firm has a market cap of $14.00 billion, a price-to-earnings ratio of 11.26, 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 current ratio of 2.14 and a quick ratio of 1.44. The business has a 50-day moving average of $139.83 and a two-hundred day moving average of $175.63.

First Solar (NASDAQ:FSLR - Get Free Report) last announced its earnings results on Tuesday, February 25th. The solar cell manufacturer reported $3.65 earnings per share for the quarter, missing analysts' consensus estimates of $4.81 by ($1.16). The business had revenue of $1.51 billion for the quarter, compared to the consensus estimate 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 forecast that First Solar, Inc. will post 13.05 earnings per share for the current fiscal year.

Insider Buying and Selling at First Solar

In related news, insider Kuntal Kumar Verma sold 419 shares of First Solar stock in a transaction on Friday, March 7th. The stock was sold at an average price of $132.96, for a total transaction of $55,710.24. Following the transaction, the insider now directly owns 4,695 shares in the company, valued at approximately $624,247.20. The trade was a 8.19 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Mark R. Widmar sold 21,542 shares of the business's stock in a transaction that occurred on 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 of the company's stock, 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. In the last three months, insiders have sold 34,311 shares of company stock worth $4,767,158. Insiders own 0.58% of the company's stock.

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.