International Assets Investment Management LLC Takes $26 Million Position in First Solar, Inc. (NASDAQ:FSLR)

International Assets Investment Management LLC bought a new position in shares of First Solar, Inc. (NASDAQ:FSLR) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 150,917 shares of the solar cell manufacturer’s stock, valued at approximately $26,000,000. International Assets Investment Management LLC owned 0.14% of First Solar as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently made changes to their positions in FSLR. Assenagon Asset Management S.A. grew its stake in shares of 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 valued at $68,852,000 after purchasing an additional 333,496 shares during the last quarter. Sora Investors LLC grew its position in First Solar by 63.6% in the 3rd quarter. Sora Investors LLC now owns 90,000 shares of the solar cell manufacturer’s stock valued at $14,543,000 after buying an additional 35,000 shares during the last quarter. Vanguard Group Inc. increased its stake in First Solar by 2.4% in the 3rd quarter. Vanguard Group Inc. now owns 12,040,031 shares of the solar cell manufacturer’s stock valued at $1,945,549,000 after buying an additional 279,424 shares during the period. Aviva PLC raised its position in First Solar by 27.8% during the 3rd quarter. Aviva PLC now owns 50,354 shares of the solar cell manufacturer’s stock worth $8,137,000 after buying an additional 10,940 shares during the last quarter. Finally, Trust Co. of Vermont raised its position in First Solar by 21.0% during the 3rd quarter. Trust Co. of Vermont now owns 7,356 shares of the solar cell manufacturer’s stock worth $1,189,000 after buying an additional 1,277 shares during the last quarter. Hedge funds and other institutional investors own 92.08% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. Oppenheimer boosted their price target on shares of First Solar from $269.00 to $271.00 and gave the stock an “outperform” rating in a research note on Thursday. Mizuho boosted their target price on First Solar from $196.00 to $209.00 and gave the stock a “buy” rating in a research report on Thursday. Bank of America increased their target price on First Solar from $187.00 to $194.00 and gave the stock a “buy” rating in a research note on Wednesday, April 10th. The Goldman Sachs Group lifted their price target on First Solar from $265.00 to $268.00 and gave the company a “buy” rating in a research note on Thursday. Finally, Evercore ISI upgraded First Solar from an “in-line” rating to an “outperform” rating and set a $227.00 price objective for the company in a research report on Tuesday, April 23rd. Three investment analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, First Solar presently has an average rating of “Moderate Buy” and an average target price of $238.16.

First Solar Stock Performance

NASDAQ:FSLR opened at $191.55 on Friday. First Solar, Inc. has a 1-year low of $129.21 and a 1-year high of $232.00. The firm has a 50 day simple moving average of $165.60 and a 200-day simple moving average of $158.00. The firm has a market cap of $20.50 billion, a PE ratio of 20.08, a P/E/G ratio of 0.30 and a beta of 1.37. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.55 and a quick ratio of 2.92.

First Solar (NASDAQ:FSLR) last issued its quarterly earnings results on Wednesday, May 1st. The solar cell manufacturer reported $2.20 earnings per share for the quarter, topping analysts’ consensus estimates of $1.90 by $0.30. First Solar had a return on equity of 16.60% and a net margin of 28.75%. The company had revenue of $794.10 million for the quarter, compared to analyst estimates of $718.19 million. During the same quarter in the prior year, the company posted $0.40 EPS. The business’s revenue for the quarter was up 44.8% compared to the same quarter last year. On average, equities analysts expect that First Solar, Inc. will post 13.57 EPS for the current year.

Insider Buying and Selling

In other First Solar news, insider Georges Antoun sold 2,400 shares of First Solar stock in a transaction dated Thursday, April 4th. The stock was sold at an average price of $176.00, for a total value of $422,400.00. Following the completion of the sale, the insider now owns 37,412 shares in the company, valued at approximately $6,584,512. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other First Solar news, CTO Markus Gloeckler sold 679 shares of First Solar stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $160.00, for a total value of $108,640.00. Following the transaction, the chief technology officer now owns 14,473 shares in the company, valued at approximately $2,315,680. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Georges Antoun sold 2,400 shares of the company’s stock in a transaction on Thursday, April 4th. The stock was sold at an average price of $176.00, for a total value of $422,400.00. Following the sale, the insider now owns 37,412 shares of the company’s stock, valued at $6,584,512. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 26,620 shares of company stock worth $4,269,540. 0.58% of the stock is owned by company insiders.

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.