Wellington Management Group LLP Purchases 262,482 Shares of First Solar, Inc. (NASDAQ:FSLR)

Wellington Management Group LLP increased its position in shares of First Solar, Inc. (NASDAQ:FSLR - Free Report) by 12.5% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,359,846 shares of the solar cell manufacturer's stock after acquiring an additional 262,482 shares during the period. Wellington Management Group LLP owned about 2.20% of First Solar worth $415,899,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Brandywine Global Investment Management LLC bought a new stake in First Solar during the 4th quarter worth approximately $11,183,000. SCP Investment LP grew its stake in shares of First Solar by 249.5% in the fourth quarter. SCP Investment LP now owns 13,588 shares of the solar cell manufacturer's stock worth $2,395,000 after purchasing an additional 9,700 shares during the last quarter. RWA Wealth Partners LLC grew its stake in shares of First Solar by 787.9% in the fourth quarter. RWA Wealth Partners LLC now owns 34,032 shares of the solar cell manufacturer's stock worth $5,998,000 after purchasing an additional 30,199 shares during the last quarter. Schroder Investment Management Group raised its position in First Solar by 7.4% during the 4th quarter. Schroder Investment Management Group now owns 1,347,095 shares of the solar cell manufacturer's stock worth $237,412,000 after purchasing an additional 92,881 shares during the last quarter. Finally, Allianz SE bought a new position in First Solar during the 4th quarter worth $411,000. Institutional investors and hedge funds own 92.08% of the company's stock.

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Insider Transactions at First Solar

In other First Solar news, CEO Mark R. Widmar sold 1,966 shares of the business's stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $133.75, for a total transaction of $262,952.50. Following the completion of the sale, the chief executive officer now directly owns 111,890 shares of the company's stock, valued at approximately $14,965,287.50. The trade was a 1.73 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Kuntal Kumar Verma sold 7,475 shares of the stock in a transaction that occurred on 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 completion of the sale, the insider now directly owns 3,549 shares of the company's stock, valued at approximately $484,793.40. This trade represents a 67.81 % 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 over the last three months. Corporate insiders own 0.58% of the company's stock.

First Solar Stock Down 5.5 %

First Solar stock traded down $7.54 during mid-day trading on Friday, reaching $128.69. The stock had a trading volume of 4,687,136 shares, compared to its average volume of 2,686,483. 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 fifty-two week low of $120.60 and a fifty-two week high of $306.77. The stock's 50-day simple moving average is $145.44 and its 200-day simple moving average is $181.88. The firm has a market capitalization of $13.78 billion, a PE ratio of 11.08, a price-to-earnings-growth ratio of 0.19 and a beta of 1.52.

First Solar (NASDAQ:FSLR - Get Free Report) last announced its quarterly earnings results on Tuesday, February 25th. The solar cell manufacturer reported $3.65 EPS 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 for the quarter, compared to the consensus estimate of $1.48 billion. On average, sell-side analysts forecast that First Solar, Inc. will post 13.05 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. BMO Capital Markets reiterated an "outperform" rating and issued a $230.00 price target (down previously from $260.00) on shares of First Solar in a research 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 on the stock in a report on Wednesday, December 18th. Roth Mkm reissued a "buy" rating and set a $280.00 target price on shares of First Solar in a research report on Wednesday, February 26th. Wells Fargo & Company dropped their price target on shares of First Solar from $240.00 to $209.00 and set an "overweight" rating on the stock in a research report on Wednesday, January 8th. Finally, Redburn Atlantic initiated coverage on shares of First Solar in a research note on Monday, March 3rd. They issued a "neutral" rating on the stock. Four research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $260.42.

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.