First Solar, Inc. (NASDAQ:FSLR) Shares Purchased by Vanguard Group Inc.

Vanguard Group Inc. lifted its holdings in shares of First Solar, Inc. (NASDAQ:FSLR - Free Report) by 0.9% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 12,821,701 shares of the solar cell manufacturer's stock after purchasing an additional 120,289 shares during the quarter. Vanguard Group Inc. owned about 11.98% of First Solar worth $2,259,697,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Larson Financial Group LLC raised its stake in shares of First Solar by 214.0% in the third quarter. Larson Financial Group LLC now owns 157 shares of the solar cell manufacturer's stock valued at $39,000 after acquiring an additional 107 shares in the last quarter. Smartleaf Asset Management LLC boosted its position in shares of First Solar by 31.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 262 shares of the solar cell manufacturer's stock worth $47,000 after acquiring an additional 63 shares in the last quarter. Crews Bank & Trust purchased a new position in shares of First Solar in the 4th quarter valued at about $53,000. Hudson Edge Investment Partners Inc. acquired a new stake in shares of First Solar during the 4th quarter worth about $53,000. Finally, Financial Avengers Inc. acquired a new position in First Solar in the third quarter valued at approximately $77,000. Institutional investors and hedge funds own 92.08% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on FSLR. Wells Fargo & Company reduced their price objective on shares of First Solar from $240.00 to $209.00 and set an "overweight" rating for the company in a research report on Wednesday, January 8th. JPMorgan Chase & Co. decreased their price objective on shares of First Solar from $282.00 to $268.00 and set an "overweight" rating for the company in a research note on Wednesday, February 26th. Piper Sandler dropped their price objective on First Solar from $250.00 to $230.00 and set an "overweight" rating on the stock in a report on Wednesday, February 26th. Robert W. Baird reduced their target price on First Solar from $307.00 to $267.00 and set an "outperform" rating for the company in a report on Wednesday, December 18th. Finally, Barclays dropped their price target on First Solar from $273.00 to $236.00 and set an "overweight" rating on the stock in a research note on Friday, February 28th. Four analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $262.08.

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Insider Activity at First Solar

In other news, CEO Mark R. Widmar sold 1,272 shares of First Solar stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $132.96, for a total transaction of $169,125.12. Following the completion of the sale, the chief executive officer now directly owns 109,000 shares in the company, valued at $14,492,640. The trade was a 1.15 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available 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 transaction of $80,116.25. Following the transaction, the chief financial officer now directly owns 45,717 shares in the company, valued at $6,114,648.75. The trade was a 1.29 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 34,311 shares of company stock valued at $4,767,158. 0.58% of the stock is owned by insiders.

First Solar Price Performance

NASDAQ FSLR traded up $0.72 during trading hours on Friday, reaching $127.32. The company's stock had a trading volume of 3,085,547 shares, compared to its average volume of 2,643,007. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.44 and a current ratio of 2.14. The company's 50-day moving average is $150.28 and its two-hundred day moving average is $184.79. First Solar, Inc. has a fifty-two week low of $124.32 and a fifty-two week high of $306.77. The stock has a market cap of $13.63 billion, a PE ratio of 10.97, a PEG ratio of 0.19 and a beta of 1.52.

First Solar (NASDAQ:FSLR - Get Free Report) last released 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). 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. Analysts forecast that First Solar, Inc. will post 13.05 EPS for the current 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.