Ensign Peak Advisors Inc Increases Stock Position in First Solar, Inc. (NASDAQ:FSLR)

Ensign Peak Advisors Inc boosted its stake in First Solar, Inc. (NASDAQ:FSLR) by 1.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 36,216 shares of the solar cell manufacturer’s stock after acquiring an additional 480 shares during the period. Ensign Peak Advisors Inc’s holdings in First Solar were worth $6,383,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Smartleaf Asset Management LLC increased its stake in First Solar by 31.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 262 shares of the solar cell manufacturer’s stock valued at $47,000 after purchasing an additional 63 shares during the period. Crews Bank & Trust acquired a new position in First Solar in the fourth quarter valued at $53,000. Hudson Edge Investment Partners Inc. acquired a new position in First Solar in the fourth quarter valued at $53,000. Banque Transatlantique SA acquired a new position in First Solar in the fourth quarter valued at $53,000. Finally, CoreFirst Bank & Trust acquired a new position in First Solar in the fourth quarter valued at $54,000. 92.08% of the stock is owned by hedge funds and other institutional investors.

First Solar Stock Up 22.7%

FSLR stock opened at $191.60 on Wednesday. The company has a market cap of $20.55 billion, a P/E ratio of 16.50, a P/E/G ratio of 0.19 and a beta of 1.46. First Solar, Inc. has a 52 week low of $116.56 and a 52 week high of $306.77. The company’s 50-day moving average price is $132.05 and its 200 day moving average price is $163.45. The company has a current ratio of 2.14, a quick ratio of 1.44 and a debt-to-equity ratio of 0.05.

First Solar (NASDAQ:FSLR) last announced its quarterly earnings results on Tuesday, April 29th. The solar cell manufacturer reported $1.95 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.50 by ($0.55). First Solar had a net margin of 32.41% and a return on equity of 17.56%. The business had revenue of $844.57 million during the quarter, compared to analysts’ expectations of $863.11 million. During the same period last year, the company earned $2.20 EPS. The firm’s revenue for the quarter was up 6.4% on a year-over-year basis. On average, research analysts expect that First Solar, Inc. will post 13.05 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Guggenheim dropped their price objective on shares of First Solar from $253.00 to $202.00 and set a “buy” rating on the stock in a research note on Thursday, May 1st. Glj Research upgraded shares of First Solar from a “hold” rating to a “buy” rating and set a $172.37 price objective on the stock in a research note on Thursday, May 1st. Susquehanna dropped their price objective on shares of First Solar from $223.00 to $217.00 and set a “positive” rating on the stock in a research note on Monday, April 14th. Robert W. Baird dropped their price target on shares of First Solar from $267.00 to $240.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 15th. Finally, UBS Group dropped their price target on shares of First Solar from $240.00 to $235.00 and set a “buy” rating on the stock in a research note on Wednesday, April 30th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating, twenty-four have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $223.76.

Insider Buying and Selling at First Solar

In other First Solar news, CFO Alexander R. Bradley sold 599 shares of the company’s stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $133.75, for a total value of $80,116.25. Following the sale, the chief financial officer now owns 45,717 shares of the company’s stock, valued at $6,114,648.75. This represents a 1.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Georges Antoun sold 229 shares of the company’s stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $133.75, for a total transaction of $30,628.75. Following the completion of the sale, the insider now directly owns 52,836 shares in the company, valued at $7,066,815. This trade represents a 0.43% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 34,311 shares of company stock valued at $4,767,158 over the last quarter. Corporate insiders own 0.48% of the company’s stock.

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.