Candriam S.C.A. Increases Position in First Solar, Inc. (NASDAQ:FSLR)

Candriam S.C.A. raised its holdings in shares of First Solar, Inc. (NASDAQ:FSLR) by 2.1% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 87,323 shares of the solar cell manufacturer’s stock after purchasing an additional 1,772 shares during the period. Candriam S.C.A.’s holdings in First Solar were worth $15,390,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. Strengthening Families & Communities LLC bought a new position in First Solar during the 3rd quarter valued at approximately $25,000. Kennebec Savings Bank purchased a new stake in shares of First Solar in the third quarter worth $29,000. Larson Financial Group LLC increased its holdings in shares of First Solar by 214.0% during the third quarter. Larson Financial Group LLC now owns 157 shares of the solar cell manufacturer’s stock valued at $39,000 after acquiring an additional 107 shares in the last quarter. Smartleaf Asset Management LLC raised its position in shares of First Solar by 31.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 262 shares of the solar cell manufacturer’s stock worth $47,000 after purchasing an additional 63 shares during the last quarter. Finally, Crews Bank & Trust bought a new position in First Solar in the 4th quarter worth about $53,000. 92.08% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at First Solar

In related news, insider Kuntal Kumar Verma sold 7,475 shares of the firm’s stock in a transaction on Friday, February 28th. The shares were sold at an average price of $136.60, for a total transaction of $1,021,085.00. Following the completion of the transaction, the insider now directly owns 3,549 shares of the company’s stock, valued at approximately $484,793.40. This trade represents a 67.81 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Mark R. Widmar sold 21,542 shares of the business’s stock in a transaction on Friday, February 28th. The stock was sold at an average price of $141.09, for a total transaction of $3,039,360.78. Following the completion of the sale, the chief executive officer now owns 103,403 shares in the company, valued at approximately $14,589,129.27. The trade was a 17.24 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.58% of the company’s stock.

First Solar Trading Up 0.2 %

Shares of NASDAQ:FSLR opened at $131.13 on Friday. The stock has a 50 day moving average of $169.00 and a 200 day moving average of $195.85. The company has a market cap of $14.04 billion, a PE ratio of 11.29, a price-to-earnings-growth ratio of 0.19 and a beta of 1.47. First Solar, Inc. has a 12-month low of $124.96 and a 12-month high of $306.77. 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 posted its quarterly earnings results on Tuesday, February 25th. The solar cell manufacturer reported $3.65 earnings per share for the quarter, missing analysts’ consensus estimates of $4.81 by ($1.16). The firm had revenue of $1.51 billion during the quarter, compared to the consensus estimate of $1.48 billion. First Solar had a return on equity of 17.56% and a net margin of 32.41%. As a group, equities research analysts expect that First Solar, Inc. will post 13.05 EPS for the current year.

Analyst Ratings Changes

A number of research firms have weighed in on FSLR. Morgan Stanley reduced their price objective on shares of First Solar from $297.00 to $238.00 and set an “overweight” rating for the company in a research note on Thursday, February 27th. BMO Capital Markets reissued an “outperform” rating and set a $230.00 price target (down previously from $260.00) on shares of First Solar in a research report on Wednesday, February 26th. StockNews.com raised First Solar from a “sell” rating to a “hold” rating in a research report on Thursday, January 2nd. Truist Financial reissued a “buy” rating and issued a $285.00 target price (down previously from $300.00) on shares of First Solar in a report on Wednesday, February 26th. Finally, Guggenheim lowered their price target on First Solar from $335.00 to $304.00 and set a “buy” rating on the stock in a report on Thursday, February 27th. Four research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $262.08.

First Solar 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.