Sterling Capital Management LLC Raises Holdings in First Solar, Inc. (NASDAQ:FSLR)

Sterling Capital Management LLC boosted its position in First Solar, Inc. (NASDAQ:FSLR - Free Report) by 55.4% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 6,320 shares of the solar cell manufacturer's stock after purchasing an additional 2,254 shares during the period. Sterling Capital Management LLC's holdings in First Solar were worth $1,114,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Smartleaf Asset Management LLC boosted its position in 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 shares of First Solar in the 4th quarter valued at $53,000. Hudson Edge Investment Partners Inc. purchased a new position in First Solar in the 4th quarter worth approximately $53,000. CoreFirst Bank & Trust bought a new position in shares of First Solar in the fourth quarter worth approximately $54,000. 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 buying an additional 75 shares during the period. Hedge funds and other institutional investors own 92.08% of the company's stock.

Insiders Place Their Bets

In related news, insider Georges Antoun sold 229 shares of the company's stock in a transaction on Monday, March 17th. The stock was sold at an average price of $133.75, for a total transaction of $30,628.75. Following the transaction, the insider now owns 52,836 shares of the company's stock, valued at $7,066,815. This represents a 0.43 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Mark R. Widmar sold 1,272 shares of the business's stock in a transaction on Friday, March 7th. The stock was sold at an average price of $132.96, for a total value of $169,125.12. Following the sale, the chief executive officer now owns 109,000 shares in the company, valued at approximately $14,492,640. The trade was a 1.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 34,311 shares of company stock valued at $4,767,158 over the last quarter. Company insiders own 0.48% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on FSLR shares. Truist Financial reissued a "buy" rating and issued a $245.00 target price (down from $285.00) on shares of First Solar in a research note on Wednesday, April 2nd. Roth Mkm reaffirmed a "buy" rating and issued a $280.00 target price on shares of First Solar in a research report on Wednesday, February 26th. Royal Bank of Canada decreased their target price on shares of First Solar from $280.00 to $251.00 and set an "outperform" rating for the company in a report on Wednesday, February 26th. Guggenheim cut their price target on shares of First Solar from $304.00 to $253.00 and set a "buy" rating on the stock in a report on Monday, April 7th. Finally, StockNews.com upgraded shares of First Solar from a "sell" rating to a "hold" rating in a report on Thursday, January 2nd. Four equities 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 company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $251.63.

First Solar Trading Up 2.9 %

NASDAQ:FSLR traded up $3.60 during trading hours on Friday, reaching $127.98. 2,278,470 shares of the stock were exchanged, compared to its average volume of 2,742,666. First Solar, Inc. has a twelve month low of $116.56 and a twelve month high of $306.77. 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 business has a 50-day moving average of $136.14 and a two-hundred day moving average of $172.46. The company has a market capitalization of $13.70 billion, a price-to-earnings ratio of 11.02, a PEG ratio of 0.19 and a beta of 1.48.

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

About First Solar

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.