Allspring Global Investments Holdings LLC Has $1.25 Million Stake in First Solar, Inc. (NASDAQ:FSLR)

Allspring Global Investments Holdings LLC grew its holdings in shares of First Solar, Inc. (NASDAQ:FSLR) by 5.2% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,548 shares of the solar cell manufacturer’s stock after purchasing an additional 276 shares during the period. Allspring Global Investments Holdings LLC’s holdings in First Solar were worth $1,251,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in FSLR. Benjamin F. Edwards & Company Inc. lifted its position in First Solar by 14.2% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 691 shares of the solar cell manufacturer’s stock worth $119,000 after purchasing an additional 86 shares during the period. M&T Bank Corp boosted its position in shares of First Solar by 23.6% during the 4th quarter. M&T Bank Corp now owns 7,771 shares of the solar cell manufacturer’s stock worth $1,339,000 after acquiring an additional 1,482 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in First Solar by 3.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 613,852 shares of the solar cell manufacturer’s stock valued at $105,754,000 after acquiring an additional 19,368 shares during the last quarter. Principal Securities Inc. acquired a new position in First Solar during the fourth quarter valued at approximately $69,000. Finally, Versor Investments LP bought a new stake in First Solar during the fourth quarter worth $279,000. 92.08% of the stock is owned by institutional investors.

First Solar Price Performance

First Solar stock opened at $215.40 on Thursday. The stock has a market capitalization of $23.06 billion, a price-to-earnings ratio of 22.58, a PEG ratio of 0.38 and a beta of 1.44. First Solar, Inc. has a 52-week low of $129.21 and a 52-week high of $306.77. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.65 and a current ratio of 2.23. The stock’s 50 day moving average price is $222.22 and its two-hundred day moving average price is $206.62.

First Solar (NASDAQ:FSLR) last issued its earnings results on Tuesday, July 30th. The solar cell manufacturer reported $3.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.69 by $0.56. First Solar had a net margin of 31.98% and a return on equity of 17.73%. The business had revenue of $1.01 billion for the quarter, compared to analyst estimates of $939.71 million. During the same period in the prior year, the firm earned $1.85 earnings per share. First Solar’s revenue was up 24.6% on a year-over-year basis. On average, equities analysts predict that First Solar, Inc. will post 13.58 earnings per share for the current year.

Insider Buying and Selling

In other First Solar news, insider Patrick James Buehler sold 8,619 shares of the firm’s stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $222.00, for a total value of $1,913,418.00. Following the completion of the sale, the insider now owns 3,468 shares of the company’s stock, valued at $769,896. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Patrick James Buehler sold 8,619 shares of the business’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $222.00, for a total transaction of $1,913,418.00. Following the completion of the sale, the insider now directly owns 3,468 shares of the company’s stock, valued at $769,896. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Kuntal Kumar Verma sold 1,621 shares of First Solar stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $260.00, for a total value of $421,460.00. Following the transaction, the insider now owns 3,549 shares of the company’s stock, valued at approximately $922,740. The disclosure for this sale can be found here. In the last three months, insiders have sold 12,506 shares of company stock valued at $2,827,217. 0.58% of the stock is owned by company insiders.

Analysts Set New Price Targets

FSLR has been the subject of a number of research analyst reports. DZ Bank raised First Solar from a “hold” rating to a “buy” rating and set a $280.00 price target for the company in a report on Thursday, August 1st. Piper Sandler raised their price target on shares of First Solar from $219.00 to $250.00 and gave the company an “overweight” rating in a research note on Monday, July 22nd. Roth Mkm reaffirmed a “buy” rating and set a $320.00 price target (up from $230.00) on shares of First Solar in a report on Friday, May 31st. William Blair began coverage on shares of First Solar in a research note on Thursday, August 29th. They issued a “market perform” rating for the company. Finally, JPMorgan Chase & Co. boosted their target price on shares of First Solar from $262.00 to $282.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 16th. Five research analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $275.36.

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.