Bradley Foster & Sargent Inc. CT Has $4.40 Million Position in First Solar, Inc. (NASDAQ:FSLR)

Bradley Foster & Sargent Inc. CT reduced its position in shares of First Solar, Inc. (NASDAQ:FSLR) by 3.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 19,499 shares of the solar cell manufacturer’s stock after selling 768 shares during the period. Bradley Foster & Sargent Inc. CT’s holdings in First Solar were worth $4,396,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of First Solar by 0.9% during the first quarter. Vanguard Group Inc. now owns 12,257,053 shares of the solar cell manufacturer’s stock worth $2,068,991,000 after buying an additional 105,236 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its position in First Solar by 11.1% during the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 2,801,916 shares of the solar cell manufacturer’s stock valued at $472,963,000 after purchasing an additional 279,719 shares during the last quarter. Schroder Investment Management Group boosted its position in First Solar by 16.7% during the fourth quarter. Schroder Investment Management Group now owns 2,454,499 shares of the solar cell manufacturer’s stock valued at $422,861,000 after purchasing an additional 351,540 shares during the last quarter. Norges Bank acquired a new position in First Solar during the fourth quarter valued at approximately $298,123,000. Finally, Northern Trust Corp boosted its position in First Solar by 1.7% during the fourth quarter. Northern Trust Corp now owns 1,020,527 shares of the solar cell manufacturer’s stock valued at $175,816,000 after purchasing an additional 16,756 shares during the last quarter. 92.08% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

FSLR has been the subject of several recent research reports. Piper Sandler increased their price target on First Solar from $219.00 to $250.00 and gave the company an “overweight” rating in a research report on Monday, July 22nd. Morgan Stanley increased their price target on First Solar from $248.00 to $331.00 and gave the company an “overweight” rating in a research report on Tuesday, June 4th. UBS Group upped their price objective on First Solar from $350.00 to $360.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Bank of America upped their price objective on First Solar from $320.00 to $343.00 and gave the company a “buy” rating in a research note on Monday. Finally, Clarkson Capital started coverage on First Solar in a research note on Wednesday, August 14th. They issued a “buy” rating and a $270.00 price objective on the stock. Five analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $283.46.

Insider Buying and Selling at First Solar

In related news, CAO Byron Michael Jeffers sold 1,766 shares of the firm’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $216.50, for a total transaction of $382,339.00. Following the sale, the chief accounting officer now owns 500 shares of the company’s stock, valued at approximately $108,250. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, insider Patrick James Buehler sold 8,619 shares of the firm’s stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $222.00, for a total transaction of $1,913,418.00. Following the sale, the insider now owns 3,468 shares of the company’s stock, valued at approximately $769,896. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Byron Michael Jeffers sold 1,766 shares of the firm’s stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $216.50, for a total value of $382,339.00. Following the sale, the chief accounting officer now directly owns 500 shares in the company, valued at approximately $108,250. The disclosure for this sale can be found here. In the last quarter, insiders have sold 10,885 shares of company stock valued at $2,405,757. 0.58% of the stock is currently owned by corporate insiders.

First Solar Trading Up 0.8 %

Shares of FSLR stock opened at $241.81 on Thursday. The stock’s fifty day moving average price is $221.49 and its two-hundred day moving average price is $211.71. The company has a market cap of $25.88 billion, a PE ratio of 25.35, a P/E/G ratio of 0.40 and a beta of 1.44. First Solar, Inc. has a fifty-two week low of $129.21 and a fifty-two 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.

First Solar (NASDAQ:FSLR) last issued its earnings results on Tuesday, July 30th. The solar cell manufacturer reported $3.25 earnings per share for the quarter, beating analysts’ consensus estimates of $2.69 by $0.56. The firm had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $939.71 million. First Solar had a return on equity of 17.73% and a net margin of 31.98%. The company’s revenue was up 24.6% compared to the same quarter last year. During the same quarter last year, the business posted $1.85 EPS. Equities analysts predict that First Solar, Inc. will post 13.6 EPS for the current fiscal year.

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.