Senator Investment Group LP Buys 43,490 Shares of First Solar, Inc. (NASDAQ:FSLR)

Senator Investment Group LP grew its stake in shares of First Solar, Inc. (NASDAQ:FSLR - Free Report) by 43.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 143,490 shares of the solar cell manufacturer's stock after purchasing an additional 43,490 shares during the quarter. Senator Investment Group LP owned approximately 0.13% of First Solar worth $25,289,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Smartleaf Asset Management LLC grew 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 worth $47,000 after purchasing an additional 63 shares during the last quarter. Crews Bank & Trust acquired a new stake in First Solar in the 4th quarter valued at approximately $53,000. Hudson Edge Investment Partners Inc. acquired a new stake in First Solar in the 4th quarter valued at approximately $53,000. CoreFirst Bank & Trust bought a new stake in First Solar during the 4th quarter valued at $54,000. Finally, Montag A & Associates Inc. boosted its position in First Solar by 18.8% during the 4th 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 period. 92.08% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at First Solar

In related news, CEO Mark R. Widmar sold 21,542 shares of First Solar stock in a transaction on Friday, February 28th. The stock was sold at an average price of $141.09, for a total transaction of $3,039,360.78. Following the completion of the sale, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Markus Gloeckler sold 380 shares of the company's stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $133.75, for a total value of $50,825.00. Following the completion of the transaction, the chief technology officer now directly owns 17,594 shares in the company, valued at approximately $2,353,197.50. The trade was a 2.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 34,311 shares of company stock valued at $4,767,158 in the last quarter. Company insiders own 0.48% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on FSLR. Roth Mkm restated a "buy" rating and set a $280.00 price objective on shares of First Solar in a research note on Wednesday, February 26th. Wells Fargo & Company reduced their price target on shares of First Solar from $240.00 to $209.00 and set an "overweight" rating for the company in a research note on Wednesday, January 8th. BMO Capital Markets reissued an "outperform" rating and set a $230.00 target price (down previously from $260.00) on shares of First Solar in a report on Wednesday, February 26th. Susquehanna decreased their price target on First Solar from $223.00 to $217.00 and set a "positive" rating for the company in a research note on Monday, April 14th. Finally, JPMorgan Chase & Co. dropped their price objective on First Solar from $282.00 to $268.00 and set an "overweight" rating on the stock in a research note on Wednesday, February 26th. Four investment 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. Based on data from MarketBeat, First Solar has a consensus rating of "Moderate Buy" and an average target price of $249.96.

First Solar Stock Up 4.0 %

NASDAQ:FSLR traded up $5.42 during trading hours on Friday, hitting $141.86. 2,697,453 shares of the company's stock traded hands, compared to its average volume of 2,773,009. The stock's fifty day moving average price is $133.88 and its two-hundred day moving average price is $169.67. The firm has a market cap of $15.19 billion, a P/E ratio of 12.22, a P/E/G 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 twelve month low of $116.56 and a twelve month high of $306.77.

First Solar (NASDAQ:FSLR - Get Free Report) last issued 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). 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 during the quarter, compared to analyst estimates of $1.48 billion. On average, research analysts expect that First Solar, Inc. will post 13.05 earnings per share for the current fiscal 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.