Triodos Investment Management BV Raises Holdings in First Solar, Inc. (NASDAQ:FSLR)

Triodos Investment Management BV grew its holdings in First Solar, Inc. (NASDAQ:FSLR - Free Report) by 119.0% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 208,450 shares of the solar cell manufacturer's stock after buying an additional 113,250 shares during the quarter. First Solar makes up about 3.0% of Triodos Investment Management BV's investment portfolio, making the stock its 15th largest holding. Triodos Investment Management BV owned approximately 0.19% of First Solar worth $36,737,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in FSLR. Whalen Wealth Management Inc. grew its holdings in shares of First Solar by 47.0% during the fourth quarter. Whalen Wealth Management Inc. now owns 4,859 shares of the solar cell manufacturer's stock valued at $856,000 after buying an additional 1,554 shares during the last quarter. Allspring Global Investments Holdings LLC increased its position in shares of First Solar by 665.8% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 39,192 shares of the solar cell manufacturer's stock valued at $7,308,000 after purchasing an additional 34,074 shares during the last quarter. Stifel Financial Corp lifted its stake in shares of First Solar by 36.9% in the 3rd quarter. Stifel Financial Corp now owns 21,446 shares of the solar cell manufacturer's stock worth $5,350,000 after purchasing an additional 5,780 shares during the period. Paragon Capital Management Inc. purchased a new position in First Solar during the fourth quarter valued at $1,240,000. Finally, Robeco Institutional Asset Management B.V. grew its stake in shares of First Solar by 9.0% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 595,267 shares of the solar cell manufacturer's stock valued at $104,910,000 after acquiring an additional 49,074 shares during the period. 92.08% of the stock is currently owned by institutional investors.

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Insider Activity

In other news, insider Georges Antoun sold 229 shares of the firm'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 $30,628.75. Following the transaction, the insider now directly owns 52,836 shares of the company's stock, valued at approximately $7,066,815. This trade represents a 0.43 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Mark R. Widmar sold 21,542 shares of the company'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 completion of the sale, the chief executive officer now owns 103,403 shares of the company's stock, valued at $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. Insiders sold a total of 34,311 shares of company stock valued at $4,767,158 in the last three months. 0.58% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Guggenheim reduced their price objective on shares of First Solar from $335.00 to $304.00 and set a "buy" rating for the company in a research note on Thursday, February 27th. Redburn Atlantic assumed coverage on First Solar in a research note on Monday, March 3rd. They issued a "neutral" rating for the company. UBS Group lowered their price target on First Solar from $360.00 to $285.00 and set a "buy" rating on the stock in a report on Wednesday, February 26th. Deutsche Bank Aktiengesellschaft set a $265.00 price objective on shares of First Solar in a research report on Thursday, February 27th. Finally, Truist Financial reaffirmed a "buy" rating and set a $285.00 target price (down from $300.00) on shares of First Solar in a research note on Wednesday, February 26th. Four investment analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $262.08.

First Solar Stock Performance

First Solar stock traded down $2.62 during trading hours on Monday, hitting $124.70. 1,292,873 shares of the stock traded hands, compared to its average volume of 2,637,732. First Solar, Inc. has a 1 year low of $120.62 and a 1 year high of $306.77. The stock has a market capitalization of $13.35 billion, a price-to-earnings ratio of 10.76, a P/E/G ratio of 0.19 and a beta of 1.52. 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 firm's 50 day moving average price is $150.28 and its 200-day moving average price is $184.79.

First Solar (NASDAQ:FSLR - Get Free Report) last posted its quarterly earnings results on Tuesday, February 25th. The solar cell manufacturer reported $3.65 earnings per share (EPS) 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 analysts' expectations of $1.48 billion. First Solar had a return on equity of 17.56% and a net margin of 32.41%. As a group, equities analysts expect that First Solar, Inc. will post 13.05 EPS for the current fiscal 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.