Stamos Capital Partners L.P. Grows Position in First Solar, Inc. (NASDAQ:FSLR)

Stamos Capital Partners L.P. boosted its position in First Solar, Inc. (NASDAQ:FSLR - Free Report) by 44.6% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 8,370 shares of the solar cell manufacturer's stock after purchasing an additional 2,580 shares during the period. Stamos Capital Partners L.P.'s holdings in First Solar were worth $1,475,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Vanguard Group Inc. increased its position in First Solar by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 12,821,701 shares of the solar cell manufacturer's stock worth $2,259,697,000 after buying an additional 120,289 shares during the last quarter. Geode Capital Management LLC boosted its stake in First Solar by 2.4% in the fourth quarter. Geode Capital Management LLC now owns 2,666,242 shares of the solar cell manufacturer's stock worth $469,154,000 after buying an additional 63,739 shares in the last quarter. Wellington Management Group LLP grew its stake in shares of First Solar by 12.5% during the fourth quarter. Wellington Management Group LLP now owns 2,359,846 shares of the solar cell manufacturer's stock valued at $415,899,000 after buying an additional 262,482 shares during the last quarter. Invesco Ltd. raised its holdings in First Solar by 13.9% during the 4th quarter. Invesco Ltd. now owns 1,835,056 shares of the solar cell manufacturer's stock valued at $323,410,000 after buying an additional 223,933 shares during the last quarter. Finally, Amundi increased its holdings in First Solar by 31.0% during the 4th quarter. Amundi now owns 1,805,244 shares of the solar cell manufacturer's stock valued at $336,871,000 after purchasing an additional 426,797 shares during the period. 92.08% of the stock is currently owned by institutional investors.

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Analysts Set New Price Targets

Several analysts have commented on FSLR shares. Susquehanna lowered their price objective on shares of First Solar from $223.00 to $217.00 and set a "positive" rating for the company in a report on Monday. UBS Group reduced their price objective on First Solar from $285.00 to $240.00 and set a "buy" rating for the company in a research report on Monday. Guggenheim decreased their price objective on shares of First Solar from $304.00 to $253.00 and set a "buy" rating on the stock in a research report on Monday, April 7th. Royal Bank of Canada cut their target price on shares of First Solar from $280.00 to $251.00 and set an "outperform" rating for the company in a research note on Wednesday, February 26th. Finally, Truist Financial reissued a "buy" rating and issued a $245.00 target price (down from $285.00) on shares of First Solar in a report on Wednesday, April 2nd. Four research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $251.63.

Insider Activity

In other news, insider Kuntal Kumar Verma sold 7,475 shares of the stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $136.60, for a total value of $1,021,085.00. Following the transaction, the insider now directly owns 3,549 shares of the company's stock, valued at approximately $484,793.40. This represents a 67.81 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Alexander R. Bradley sold 599 shares of the company'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 $80,116.25. Following the completion of the sale, 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 position. The disclosure for this sale can be found here. Insiders have sold a total of 34,311 shares of company stock worth $4,767,158 over the last 90 days. 0.58% of the stock is currently owned by corporate insiders.

First Solar Stock Down 3.4 %

Shares of NASDAQ FSLR traded down $4.44 during mid-day trading on Tuesday, reaching $126.82. 2,566,447 shares of the company were exchanged, compared to its average volume of 2,740,249. The stock has a market cap of $13.58 billion, a price-to-earnings ratio of 10.92, a P/E/G ratio of 0.19 and a beta of 1.48. The company has a quick ratio of 1.44, a current ratio of 2.14 and a debt-to-equity ratio of 0.05. The firm has a 50-day moving average of $138.39 and a 200 day moving average of $174.42. 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 announced its earnings results on Tuesday, February 25th. The solar cell manufacturer reported $3.65 earnings per share 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 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 year.

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.