Sei Investments Co. Buys 10,906 Shares of First Solar, Inc. (NASDAQ:FSLR)

Sei Investments Co. increased its holdings in First Solar, Inc. (NASDAQ:FSLR - Free Report) by 67.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 27,035 shares of the solar cell manufacturer's stock after acquiring an additional 10,906 shares during the period. Sei Investments Co.'s holdings in First Solar were worth $4,764,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Smartleaf Asset Management LLC boosted its holdings in shares of First Solar by 31.7% during the fourth 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 during the period. Crews Bank & Trust purchased a new stake in First Solar in the 4th quarter worth approximately $53,000. Hudson Edge Investment Partners Inc. acquired a new stake in shares of First Solar during the 4th quarter valued at $53,000. Financial Avengers Inc. purchased a new position in shares of First Solar during the 3rd quarter valued at $77,000. Finally, Montag A & Associates Inc. increased its stake in shares of First Solar by 18.8% in the fourth quarter. Montag A & Associates Inc. now owns 475 shares of the solar cell manufacturer's stock worth $84,000 after acquiring an additional 75 shares during the last quarter. 92.08% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at First Solar

In related news, CTO Markus Gloeckler sold 380 shares of the company's stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $133.75, for a total value of $50,825.00. Following the sale, the chief technology officer now owns 17,594 shares of the company's stock, valued at $2,353,197.50. The trade was a 2.11 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Mark R. Widmar sold 1,272 shares of the firm's stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $132.96, for a total transaction of $169,125.12. Following the transaction, the chief executive officer now owns 109,000 shares of the company's stock, valued at approximately $14,492,640. This represents a 1.15 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 34,311 shares of company stock worth $4,767,158. 0.58% of the stock is owned by corporate insiders.

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First Solar Stock Performance

First Solar stock traded down $7.54 during mid-day trading on Friday, reaching $128.69. The company had a trading volume of 4,686,474 shares, compared to its average volume of 2,908,451. The company has a 50 day moving average of $146.23 and a 200-day moving average of $182.60. The firm has a market cap of $13.78 billion, a price-to-earnings ratio of 11.08, a PEG ratio of 0.19 and a beta of 1.52. The company has a quick ratio of 1.44, a current ratio of 2.14 and a debt-to-equity ratio of 0.05. First Solar, Inc. has a 52 week low of $120.60 and a 52 week high of $306.77.

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

Wall Street Analyst Weigh In

A number of research analysts have commented on FSLR shares. Bank of America lowered their target price on First Solar from $246.00 to $236.00 and set a "buy" rating on the stock in a research note on Tuesday, January 28th. Piper Sandler lowered their price target on First Solar from $250.00 to $230.00 and set an "overweight" rating for the company in a research note on Wednesday, February 26th. JPMorgan Chase & Co. cut their price objective 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. UBS Group reduced their target price on shares of First Solar from $360.00 to $285.00 and set a "buy" rating for the company in a research note on Wednesday, February 26th. Finally, BMO Capital Markets restated an "outperform" rating and set a $230.00 price target (down previously from $260.00) on shares of First Solar in a research note on Wednesday, February 26th. 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's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $260.42.

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.