PFG Investments LLC Grows Stock Position in First Solar, Inc. (NASDAQ:FSLR)

PFG Investments LLC raised its holdings in shares of First Solar, Inc. (NASDAQ:FSLR) by 9.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,934 shares of the solar cell manufacturer’s stock after acquiring an additional 251 shares during the quarter. PFG Investments LLC’s holdings in First Solar were worth $505,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of the business. Norges Bank bought a new stake in First Solar during the fourth quarter valued at about $213,049,000. Clean Energy Transition LLP raised its stake in First Solar by 948.8% during the 3rd quarter. Clean Energy Transition LLP now owns 1,186,646 shares of the solar cell manufacturer’s stock worth $191,750,000 after acquiring an additional 1,073,500 shares during the period. Goldman Sachs Group Inc. lifted its holdings in First Solar by 197.8% during the first quarter. Goldman Sachs Group Inc. now owns 1,336,038 shares of the solar cell manufacturer’s stock valued at $111,880,000 after purchasing an additional 887,443 shares in the last quarter. Samlyn Capital LLC bought a new stake in shares of First Solar during the 1st quarter valued at $121,554,000. Finally, Bank of America Corp DE lifted its stake in shares of First Solar by 889.2% during the 1st quarter. Bank of America Corp DE now owns 453,658 shares of the solar cell manufacturer’s stock valued at $98,671,000 after buying an additional 511,143 shares in the last quarter. Institutional investors own 92.08% of the company’s stock.

Insiders Place Their Bets

In other First Solar news, insider Kuntal Kumar Verma sold 250 shares of First Solar stock in a transaction on Monday, March 18th. The shares were sold at an average price of $148.34, for a total value of $37,085.00. Following the transaction, the insider now directly owns 5,170 shares of the company’s stock, valued at $766,917.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other First Solar news, insider Kuntal Kumar Verma sold 250 shares of First Solar stock in a transaction on Monday, March 18th. The shares were sold at an average price of $148.34, for a total value of $37,085.00. Following the transaction, the insider now directly owns 5,170 shares of the company’s stock, valued at $766,917.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director R Craig Kennedy sold 1,500 shares of First Solar stock in a transaction on Friday, March 1st. The stock was sold at an average price of $157.76, for a total transaction of $236,640.00. Following the completion of the transaction, the director now directly owns 15,641 shares in the company, valued at $2,467,524.16. The disclosure for this sale can be found here. Over the last three months, insiders have sold 19,883 shares of company stock valued at $3,100,837. 0.58% of the stock is currently owned by insiders.

First Solar Stock Performance

Shares of FSLR stock opened at $167.45 on Thursday. The firm has a market cap of $17.89 billion, a price-to-earnings ratio of 21.63, a PEG ratio of 0.26 and a beta of 1.41. The company’s 50 day moving average is $151.62 and its 200 day moving average is $155.16. The company has a quick ratio of 2.92, a current ratio of 3.55 and a debt-to-equity ratio of 0.07. First Solar, Inc. has a 52-week low of $129.21 and a 52-week high of $232.00.

First Solar (NASDAQ:FSLR) last issued its quarterly earnings data on Tuesday, February 27th. The solar cell manufacturer reported $3.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.19 by $0.06. The company had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.31 billion. First Solar had a net margin of 25.03% and a return on equity of 13.80%. First Solar’s revenue was up 15.5% compared to the same quarter last year. During the same period last year, the company posted ($0.07) earnings per share. On average, sell-side analysts anticipate that First Solar, Inc. will post 13.5 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. Jefferies Financial Group assumed coverage on First Solar in a research note on Friday, December 15th. They issued a “buy” rating and a $211.00 price target for the company. Royal Bank of Canada reiterated an “outperform” rating and issued a $195.00 price target on shares of First Solar in a research note on Wednesday, February 28th. Morgan Stanley upgraded First Solar from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $214.00 to $237.00 in a research report on Friday, December 8th. Susquehanna cut their price objective on First Solar from $261.00 to $258.00 and set a “positive” rating for the company in a research report on Wednesday, February 28th. Finally, Mizuho raised their price objective on First Solar from $188.00 to $196.00 and gave the company a “buy” rating in a research report on Wednesday, January 3rd. Four research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $231.48.

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.