Terra Nova Asset Management LLC Increases Position in First Solar, Inc. (NASDAQ:FSLR)

Terra Nova Asset Management LLC boosted its holdings in shares of First Solar, Inc. (NASDAQ:FSLR) by 11.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,625 shares of the solar cell manufacturer’s stock after acquiring an additional 1,001 shares during the period. Terra Nova Asset Management LLC’s holdings in First Solar were worth $1,658,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT acquired a new position in First Solar in the 4th quarter valued at about $1,619,000. Highland Capital Management LLC lifted its holdings in shares of First Solar by 0.8% in the 4th quarter. Highland Capital Management LLC now owns 22,570 shares of the solar cell manufacturer’s stock worth $3,888,000 after acquiring an additional 190 shares during the last quarter. Family Legacy Inc. lifted its holdings in shares of First Solar by 10.2% in the 4th quarter. Family Legacy Inc. now owns 4,881 shares of the solar cell manufacturer’s stock worth $841,000 after acquiring an additional 452 shares during the last quarter. PFG Investments LLC lifted its holdings in shares of First Solar by 9.4% in the 4th quarter. PFG Investments LLC now owns 2,934 shares of the solar cell manufacturer’s stock worth $505,000 after acquiring an additional 251 shares during the last quarter. Finally, Vision Capital Management Inc. acquired a new position in shares of First Solar in the 4th quarter worth approximately $223,000. Hedge funds and other institutional investors own 92.08% of the company’s stock.

Insider Activity

In related news, insider Georges Antoun sold 16,667 shares of the firm’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $155.55, for a total value of $2,592,551.85. Following the completion of the transaction, the insider now directly owns 42,041 shares of the company’s stock, valued at $6,539,477.55. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other First Solar news, insider Georges Antoun sold 16,667 shares of the stock in a transaction on Monday, March 4th. The stock was sold at an average price of $155.55, for a total transaction of $2,592,551.85. Following the completion of the transaction, the insider now directly owns 42,041 shares in the company, valued at $6,539,477.55. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Kuntal Kumar Verma sold 250 shares of the stock in a transaction on Monday, March 18th. The stock was sold at an average price of $148.34, for a total value of $37,085.00. Following the transaction, the insider now owns 5,170 shares of the company’s stock, valued at $766,917.80. The disclosure for this sale can be found here. Over the last three months, insiders sold 19,883 shares of company stock valued at $3,100,837. 0.58% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

FSLR has been the topic of a number of research reports. Royal Bank of Canada reiterated an “outperform” rating and set a $195.00 target price on shares of First Solar in a report on Wednesday, February 28th. Morgan Stanley raised shares of First Solar from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $214.00 to $237.00 in a research report on Friday, December 8th. Mizuho boosted their target price on shares of First Solar from $188.00 to $196.00 and gave the company a “buy” rating in a report on Wednesday, January 3rd. Susquehanna reduced their price target on shares of First Solar from $261.00 to $258.00 and set a “positive” rating on the stock in a research report on Wednesday, February 28th. Finally, Oppenheimer lifted their price target on shares of First Solar from $268.00 to $269.00 and gave the company an “outperform” rating in a research report on Wednesday, February 28th. Four equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $231.48.

First Solar Trading Up 0.8 %

NASDAQ:FSLR opened at $168.80 on Friday. The company has a market capitalization of $18.04 billion, a P/E ratio of 21.81, a P/E/G ratio of 0.29 and a beta of 1.41. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.92 and a current ratio of 3.55. The stock’s 50 day moving average price is $152.04 and its 200 day moving average price is $155.26. First Solar, Inc. has a 52 week low of $129.21 and a 52 week high of $232.00.

First Solar (NASDAQ:FSLR) last announced its earnings results on Tuesday, February 27th. The solar cell manufacturer reported $3.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.19 by $0.06. The firm had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.31 billion. First Solar had a return on equity of 13.80% and a net margin of 25.03%. The company’s revenue was up 15.5% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.07) earnings per share. On average, research analysts forecast that First Solar, Inc. will post 13.51 EPS for the current fiscal year.

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.