Fisher Asset Management LLC Grows Position in First Solar, Inc. (NASDAQ:FSLR)

Fisher Asset Management LLC raised its holdings in shares of First Solar, Inc. (NASDAQ:FSLR) by 9.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 39,269 shares of the solar cell manufacturer’s stock after purchasing an additional 3,264 shares during the quarter. Fisher Asset Management LLC’s holdings in First Solar were worth $6,765,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in FSLR. University of Texas Texas AM Investment Managment Co. purchased a new stake in shares of First Solar in the fourth quarter worth about $27,000. Neo Ivy Capital Management purchased a new stake in shares of First Solar in the fourth quarter worth about $129,000. V Square Quantitative Management LLC lifted its holdings in shares of First Solar by 31.4% in the fourth quarter. V Square Quantitative Management LLC now owns 1,590 shares of the solar cell manufacturer’s stock worth $274,000 after buying an additional 380 shares in the last quarter. Voisard Asset Management Group Inc. purchased a new stake in shares of First Solar in the fourth quarter worth about $46,000. Finally, Quarry LP lifted its holdings in shares of First Solar by 22.7% in the fourth quarter. Quarry LP now owns 1,319 shares of the solar cell manufacturer’s stock worth $227,000 after buying an additional 244 shares in the last quarter. 92.08% of the stock is owned by hedge funds and other institutional investors.

First Solar Stock Performance

Shares of FSLR stock opened at $262.37 on Thursday. The stock has a fifty day moving average of $222.23 and a 200 day moving average of $180.16. First Solar, Inc. has a 52 week low of $129.21 and a 52 week high of $306.77. The firm has a market capitalization of $28.08 billion, a price-to-earnings ratio of 27.50, a PEG ratio of 0.35 and a beta of 1.48. The company has a quick ratio of 1.86, a current ratio of 2.41 and a debt-to-equity ratio of 0.06.

First Solar (NASDAQ:FSLR) last announced its quarterly earnings results on Wednesday, May 1st. The solar cell manufacturer reported $2.20 EPS for the quarter, topping analysts’ consensus estimates of $1.90 by $0.30. First Solar had a return on equity of 16.24% and a net margin of 28.75%. The company had revenue of $794.10 million during the quarter, compared to analyst estimates of $718.19 million. During the same quarter last year, the firm posted $0.40 earnings per share. The firm’s revenue was up 44.8% on a year-over-year basis. As a group, research analysts expect that First Solar, Inc. will post 13.59 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on FSLR. Bank of America increased their price target on shares of First Solar from $187.00 to $194.00 and gave the stock a “buy” rating in a report on Wednesday, April 10th. Oppenheimer raised their target price on shares of First Solar from $271.00 to $325.00 and gave the company an “outperform” rating in a research note on Wednesday, June 12th. Robert W. Baird raised their target price on shares of First Solar from $246.00 to $344.00 and gave the company an “outperform” rating in a research note on Tuesday, June 11th. Piper Sandler raised their target price on shares of First Solar from $195.00 to $219.00 and gave the company an “overweight” rating in a research note on Tuesday, May 21st. Finally, Janney Montgomery Scott cut shares of First Solar from a “buy” rating to a “neutral” rating in a research report on Tuesday. Five research analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $265.72.

Insider Buying and Selling at First Solar

In other First Solar news, CFO Alexander R. Bradley sold 16,051 shares of the firm’s stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $274.69, for a total transaction of $4,409,049.19. Following the completion of the transaction, the chief financial officer now owns 30,652 shares of the company’s stock, valued at $8,419,797.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other First Solar news, insider Georges Antoun sold 2,400 shares of the firm’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $169.72, for a total transaction of $407,328.00. Following the completion of the transaction, the insider now owns 39,812 shares of the company’s stock, valued at $6,756,892.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Alexander R. Bradley sold 16,051 shares of First Solar stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $274.69, for a total value of $4,409,049.19. Following the completion of the transaction, the chief financial officer now directly owns 30,652 shares of the company’s stock, valued at approximately $8,419,797.88. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 56,269 shares of company stock valued at $13,287,671. 0.58% of the stock is currently owned by company 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.