First Solar, Inc. $FSLR Shares Acquired by Northwestern Mutual Wealth Management Co.

Northwestern Mutual Wealth Management Co. raised its holdings in shares of First Solar, Inc. (NASDAQ:FSLR) by 1,054.3% during the fourth quarter, HoldingsChannel.com reports. The firm owned 52,219 shares of the solar cell manufacturer’s stock after buying an additional 47,695 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in First Solar were worth $13,641,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Aventura Private Wealth LLC acquired a new position in shares of First Solar in the 4th quarter valued at $25,000. Strategic Wealth Investment Group LLC acquired a new position in shares of First Solar in the 2nd quarter valued at $26,000. Pinpoint Asset Management Singapore Pte. Ltd. acquired a new position in shares of First Solar in the 3rd quarter valued at $44,000. Torren Management LLC acquired a new position in shares of First Solar in the 4th quarter valued at $47,000. Finally, Westfuller Advisors LLC acquired a new position in shares of First Solar in the 3rd quarter valued at $52,000. 92.08% of the stock is owned by institutional investors and hedge funds.

First Solar Price Performance

NASDAQ:FSLR opened at $237.86 on Thursday. First Solar, Inc. has a one year low of $135.50 and a one year high of $285.99. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.15 and a current ratio of 2.56. The firm has a market cap of $25.56 billion, a price-to-earnings ratio of 15.37, a PEG ratio of 0.49 and a beta of 1.57. The firm’s fifty day moving average is $202.87 and its two-hundred day moving average is $231.14.

First Solar (NASDAQ:FSLR) last posted its earnings results on Thursday, April 30th. The solar cell manufacturer reported $3.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.87 by $0.35. First Solar had a net margin of 30.73% and a return on equity of 18.01%. The business had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.03 billion. During the same period in the prior year, the company posted $1.95 EPS. The company’s revenue for the quarter was up 23.6% on a year-over-year basis. Research analysts expect that First Solar, Inc. will post 17.64 EPS for the current year.

Insider Buying and Selling at First Solar

In other news, insider Patrick James Buehler sold 235 shares of the stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $215.63, for a total transaction of $50,673.05. Following the sale, the insider directly owned 7,406 shares of the company’s stock, valued at $1,596,955.78. This represents a 3.08% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Alexander R. Bradley sold 498 shares of the stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $215.63, for a total transaction of $107,383.74. Following the sale, the chief financial officer directly owned 30,712 shares in the company, valued at approximately $6,622,428.56. The trade was a 1.60% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders sold 92,430 shares of company stock worth $18,670,055. 0.39% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Wall Street Zen downgraded First Solar from a “buy” rating to a “hold” rating in a research report on Saturday, February 28th. BMO Capital Markets cut their target price on First Solar from $252.00 to $237.00 and set a “market perform” rating on the stock in a research report on Monday, April 20th. Barclays cut their target price on First Solar from $228.00 to $213.00 and set an “overweight” rating on the stock in a research report on Monday, April 20th. Morgan Stanley cut their target price on First Solar from $275.00 to $230.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 28th. Finally, Zacks Research raised First Solar from a “strong sell” rating to a “hold” rating in a research report on Monday, April 27th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, twelve have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $247.03.

About First Solar

First Solar, Inc (NASDAQ: FSLR) is a United States–based solar technology company best known for designing and manufacturing thin‑film photovoltaic (PV) modules that use cadmium telluride (CdTe) semiconductor technology. The company supplies PV modules and delivers integrated solar power solutions for utility‑scale projects, positioning itself as a provider of both components and complete solar energy systems rather than solely a parts supplier. First Solar was founded in 1999 and is headquartered in Tempe, Arizona.

Beyond module manufacturing, First Solar offers a range of project services including development support, engineering, procurement and construction (EPC) services, and operations and maintenance (O&M) for large-scale solar installations.