First Solar, Inc. (NASDAQ:FSLR) Shares Sold by Mackenzie Financial Corp

Mackenzie Financial Corp decreased its holdings in shares of First Solar, Inc. (NASDAQ:FSLR) by 17.0% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 17,689 shares of the solar cell manufacturer’s stock after selling 3,630 shares during the period. Mackenzie Financial Corp’s holdings in First Solar were worth $3,047,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of FSLR. Clean Energy Transition LLP lifted its position 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. Barclays PLC lifted its holdings in shares of First Solar by 125.5% during the third quarter. Barclays PLC now owns 848,623 shares of the solar cell manufacturer’s stock worth $137,130,000 after purchasing an additional 472,327 shares during the period. Covalis Capital LLP boosted its position in First Solar by 615.6% in the third quarter. Covalis Capital LLP now owns 408,012 shares of the solar cell manufacturer’s stock valued at $65,931,000 after buying an additional 350,996 shares during the last quarter. Assenagon Asset Management S.A. increased its holdings in First Solar by 504.1% in the 4th quarter. Assenagon Asset Management S.A. now owns 399,650 shares of the solar cell manufacturer’s stock worth $68,852,000 after buying an additional 333,496 shares during the period. Finally, Vanguard Group Inc. raised its position in First Solar by 2.4% during the 3rd quarter. Vanguard Group Inc. now owns 12,040,031 shares of the solar cell manufacturer’s stock worth $1,945,549,000 after buying an additional 279,424 shares during the last quarter. Institutional investors and hedge funds own 92.08% of the company’s stock.

Insider Activity

In other First Solar news, Director R Craig Kennedy sold 1,500 shares of the business’s 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 transaction, the director now owns 15,641 shares of the company’s stock, valued at $2,467,524.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other First Solar news, Director R Craig Kennedy sold 1,500 shares of the business’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $157.76, for a total value of $236,640.00. Following the transaction, the director now directly owns 15,641 shares in the company, valued at approximately $2,467,524.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Markus Gloeckler sold 679 shares of the stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $160.00, for a total transaction of $108,640.00. Following the completion of the sale, the chief technology officer now directly owns 14,473 shares of the company’s stock, valued at approximately $2,315,680. The disclosure for this sale can be found here. Insiders sold 26,620 shares of company stock worth $4,269,540 over the last ninety days. Corporate insiders own 0.58% of the company’s stock.

First Solar Trading Up 0.7 %

Shares of FSLR opened at $176.28 on Tuesday. First Solar, Inc. has a 52-week low of $129.21 and a 52-week high of $232.00. The stock has a market cap of $18.87 billion, a PE ratio of 22.78, a price-to-earnings-growth ratio of 0.30 and a beta of 1.41. The firm’s fifty day moving average is $161.72 and its two-hundred day moving average is $156.46. 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 (NASDAQ:FSLR) last posted its quarterly earnings results on Tuesday, February 27th. The solar cell manufacturer reported $3.25 earnings per share for the quarter, topping analysts’ consensus estimates of $3.19 by $0.06. The firm 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 quarterly revenue was up 15.5% on a year-over-year basis. During the same period in the previous year, the business posted ($0.07) earnings per share. Research analysts forecast that First Solar, Inc. will post 13.55 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have recently weighed in on FSLR. Royal Bank of Canada reiterated an “outperform” rating and issued a $195.00 price objective on shares of First Solar in a research note on Wednesday, February 28th. Susquehanna reiterated a “positive” rating and set a $258.00 price objective on shares of First Solar in a research note on Friday, April 5th. Oppenheimer restated an “outperform” rating and issued a $269.00 target price on shares of First Solar in a research note on Wednesday, April 17th. Mizuho lifted their price target on First Solar from $188.00 to $196.00 and gave the company a “buy” rating in a research report on Wednesday, January 3rd. Finally, Wells Fargo & Company upgraded First Solar from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $187.00 to $250.00 in a research report on Friday. Three investment analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company. Based on data from MarketBeat, First Solar has a consensus rating of “Moderate Buy” and an average target price of $229.68.

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.