Vectors Research Management LLC Increases Holdings in First Solar, Inc. (NASDAQ:FSLR)

Vectors Research Management LLC increased its holdings in shares of First Solar, Inc. (NASDAQ:FSLR) by 4.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 14,027 shares of the solar cell manufacturer’s stock after purchasing an additional 581 shares during the quarter. Vectors Research Management LLC’s holdings in First Solar were worth $1,773,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Smartleaf Asset Management LLC boosted its position in shares of First Solar by 31.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 262 shares of the solar cell manufacturer’s stock worth $47,000 after purchasing an additional 63 shares during the period. Independent Advisor Alliance raised its holdings in shares of First Solar by 3.1% in the 4th quarter. Independent Advisor Alliance now owns 2,090 shares of the solar cell manufacturer’s stock valued at $368,000 after buying an additional 63 shares during the period. Huntington National Bank boosted its holdings in First Solar by 15.3% during the 4th quarter. Huntington National Bank now owns 511 shares of the solar cell manufacturer’s stock valued at $90,000 after acquiring an additional 68 shares during the period. Evexia Wealth LLC grew its position in First Solar by 2.1% in the 4th quarter. Evexia Wealth LLC now owns 3,481 shares of the solar cell manufacturer’s stock valued at $586,000 after acquiring an additional 70 shares in the last quarter. Finally, Westpac Banking Corp lifted its position in shares of First Solar by 8.9% during the fourth quarter. Westpac Banking Corp now owns 917 shares of the solar cell manufacturer’s stock worth $162,000 after purchasing an additional 75 shares in the last quarter. 92.08% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on FSLR shares. KeyCorp downgraded First Solar from a “sector weight” rating to an “underweight” rating and set a $100.00 price objective for the company. in a research report on Wednesday, April 30th. Deutsche Bank Aktiengesellschaft set a $265.00 price objective on shares of First Solar in a research report on Thursday, February 27th. Robert W. Baird dropped their target price on First Solar from $267.00 to $240.00 and set an “outperform” rating on the stock in a report on Tuesday, April 15th. Jefferies Financial Group upgraded First Solar from a “hold” rating to a “buy” rating and boosted their target price for the stock from $157.00 to $192.00 in a research note on Wednesday, June 11th. Finally, Piper Sandler lowered their target price on shares of First Solar from $230.00 to $205.00 and set an “overweight” rating for the company in a report on Monday, April 21st. Two analysts have rated the stock with a sell rating, four have given a hold rating, twenty-five have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, First Solar presently has a consensus rating of “Moderate Buy” and a consensus price target of $229.19.

First Solar Stock Down 0.2%

Shares of NASDAQ:FSLR opened at $144.67 on Tuesday. The company has a market capitalization of $15.51 billion, a P/E ratio of 12.30, a P/E/G ratio of 0.29 and a beta of 1.53. The stock’s fifty day simple moving average is $150.52 and its 200-day simple moving average is $156.28. First Solar, Inc. has a 52-week low of $116.56 and a 52-week high of $268.12. The company has a quick ratio of 1.39, a current ratio of 1.93 and a debt-to-equity ratio of 0.04.

First Solar (NASDAQ:FSLR) last issued its quarterly earnings results on Tuesday, April 29th. The solar cell manufacturer reported $1.95 EPS for the quarter, missing analysts’ consensus estimates of $2.50 by ($0.55). The firm 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 16.32% and a net margin of 29.72%. The business’s quarterly revenue was up 6.4% compared to the same quarter last year. During the same quarter last year, the firm earned $2.20 earnings per share. As a group, equities research analysts forecast that First Solar, Inc. will post 13.05 earnings per share for the current fiscal year.

Insider Activity

In other First Solar news, insider Michael Koralewski sold 2,951 shares of the firm’s stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $158.21, for a total value of $466,877.71. Following the transaction, the insider now directly owns 11,369 shares of the company’s stock, valued at $1,798,689.49. This trade represents a 20.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Patrick James Buehler sold 1,868 shares of the business’s stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $149.08, for a total value of $278,481.44. Following the transaction, the insider now directly owns 5,998 shares in the company, valued at $894,181.84. This trade represents a 23.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 14,376 shares of company stock valued at $2,227,172 in the last 90 days. 0.48% of the stock is currently owned by insiders.

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.