First Solar, Inc. (NASDAQ:FSLR) Shares Purchased by Secure Asset Management LLC

Secure Asset Management LLC lifted its position in First Solar, Inc. (NASDAQ:FSLR) by 145.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 16,402 shares of the solar cell manufacturer’s stock after purchasing an additional 9,715 shares during the quarter. Secure Asset Management LLC’s holdings in First Solar were worth $2,074,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in First Solar by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 12,821,701 shares of the solar cell manufacturer’s stock valued at $2,259,697,000 after purchasing an additional 120,289 shares during the period. Geode Capital Management LLC lifted its holdings in First Solar by 2.4% in the fourth quarter. Geode Capital Management LLC now owns 2,666,242 shares of the solar cell manufacturer’s stock valued at $469,154,000 after acquiring an additional 63,739 shares during the period. Wellington Management Group LLP boosted its position in First Solar by 12.5% in the 4th quarter. Wellington Management Group LLP now owns 2,359,846 shares of the solar cell manufacturer’s stock worth $415,899,000 after purchasing an additional 262,482 shares in the last quarter. Invesco Ltd. grew its stake in shares of First Solar by 13.9% during the 4th quarter. Invesco Ltd. now owns 1,835,056 shares of the solar cell manufacturer’s stock worth $323,410,000 after purchasing an additional 223,933 shares during the period. Finally, Amundi increased its holdings in shares of First Solar by 31.0% during the 4th quarter. Amundi now owns 1,805,244 shares of the solar cell manufacturer’s stock valued at $336,871,000 after purchasing an additional 426,797 shares in the last quarter. 92.08% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at First Solar

In other First Solar news, CTO Markus Gloeckler sold 9,557 shares of the business’s stock in a transaction dated Wednesday, May 28th. The shares were sold at an average price of $155.05, for a total transaction of $1,481,812.85. Following the sale, the chief technology officer now directly owns 8,037 shares in the company, valued at $1,246,136.85. This represents a 54.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Alexander R. Bradley sold 599 shares of the firm’s stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $133.75, for a total transaction of $80,116.25. Following the completion of the transaction, the chief financial officer now directly owns 45,717 shares of the company’s stock, valued at approximately $6,114,648.75. The trade was a 1.29% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 17,802 shares of company stock worth $2,655,403 over the last three months. Insiders own 0.48% of the company’s stock.

First Solar Stock Up 6.5%

FSLR stock opened at $159.37 on Wednesday. First Solar, Inc. has a one year low of $116.56 and a one year high of $306.77. The firm has a market cap of $17.09 billion, a PE ratio of 13.73, a PEG ratio of 0.19 and a beta of 1.46. The firm’s 50 day moving average price is $141.79 and its 200-day moving average price is $160.01. 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 (NASDAQ:FSLR) last released its quarterly earnings results on Tuesday, April 29th. The solar cell manufacturer reported $1.95 earnings per share for the quarter, missing analysts’ consensus estimates of $2.50 by ($0.55). The business had revenue of $844.57 million for the quarter, compared to analysts’ expectations of $863.11 million. First Solar had a return on equity of 17.56% and a net margin of 32.41%. The business’s revenue for the quarter was up 6.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.20 earnings per share. On average, equities research analysts anticipate that First Solar, Inc. will post 13.05 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on FSLR. The Goldman Sachs Group increased their price target on shares of First Solar from $204.00 to $255.00 and gave the stock a “buy” rating in a report on Monday, May 19th. KeyCorp lowered shares of First Solar from a “sector weight” rating to an “underweight” rating and set a $100.00 target price on the stock. in a research note on Wednesday, April 30th. Citigroup cut their price target on First Solar from $254.00 to $236.00 and set a “neutral” rating for the company in a research note on Wednesday, February 26th. Wolfe Research upgraded First Solar from a “peer perform” rating to an “outperform” rating and set a $221.00 price target on the stock in a research report on Tuesday, May 13th. Finally, Guggenheim cut their price objective on First Solar from $253.00 to $202.00 and set a “buy” rating for the company in a research report on Thursday, May 1st. Two research analysts have rated the stock with a sell rating, five have given a hold rating, twenty-four have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, First Solar presently has a consensus rating of “Moderate Buy” and a consensus target price of $227.94.

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.