Invesco Ltd. Has $323.41 Million Stock Position in First Solar, Inc. (NASDAQ:FSLR)

Invesco Ltd. lifted its position in First Solar, Inc. (NASDAQ:FSLR) by 13.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,835,056 shares of the solar cell manufacturer’s stock after buying an additional 223,933 shares during the quarter. Invesco Ltd.’s holdings in First Solar were worth $323,410,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of FSLR. Norges Bank acquired a new position in First Solar during the 4th quarter valued at $317,399,000. Mirova US LLC raised its stake in First Solar by 961.0% during the 4th quarter. Mirova US LLC now owns 646,310 shares of the solar cell manufacturer’s stock valued at $113,906,000 after purchasing an additional 585,394 shares during the last quarter. Amundi raised its stake in First Solar by 31.0% during the 4th quarter. Amundi now owns 1,805,244 shares of the solar cell manufacturer’s stock valued at $336,871,000 after purchasing an additional 426,797 shares during the last quarter. Wellington Management Group LLP raised its stake in First Solar by 12.5% during the 4th quarter. Wellington Management Group LLP now owns 2,359,846 shares of the solar cell manufacturer’s stock valued at $415,899,000 after purchasing an additional 262,482 shares during the last quarter. Finally, Handelsbanken Fonder AB raised its stake in First Solar by 110.4% during the 4th quarter. Handelsbanken Fonder AB now owns 375,010 shares of the solar cell manufacturer’s stock valued at $66,092,000 after purchasing an additional 196,744 shares during the last quarter. 92.08% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at First Solar

In related news, insider Georges Antoun sold 229 shares of the stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $133.75, for a total value of $30,628.75. Following the sale, the insider now directly owns 52,836 shares in the company, valued at $7,066,815. This trade represents a 0.43 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Mark R. Widmar sold 21,542 shares of the stock in a transaction that occurred on Friday, February 28th. The shares were 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 $14,589,129.27. This represents a 17.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 34,311 shares of company stock worth $4,767,158. Company insiders own 0.58% of the company’s stock.

First Solar Stock Performance

First Solar stock opened at $129.63 on Thursday. 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, Inc. has a 1 year low of $116.56 and a 1 year high of $306.77. The company has a market cap of $13.88 billion, a PE ratio of 11.17, a PEG ratio of 0.19 and a beta of 1.48. The company’s 50-day moving average is $141.53 and its two-hundred day moving average is $177.84.

First Solar (NASDAQ:FSLR) last released its earnings results on Tuesday, February 25th. The solar cell manufacturer reported $3.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.81 by ($1.16). First Solar had a net margin of 32.41% and a return on equity of 17.56%. The business had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.48 billion. Equities analysts anticipate that First Solar, Inc. will post 13.05 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Redburn Atlantic assumed coverage on shares of First Solar in a report on Monday, March 3rd. They issued a “neutral” rating on the stock. Citigroup lowered their price target on shares of First Solar from $254.00 to $236.00 and set a “neutral” rating on the stock in a report on Wednesday, February 26th. Seaport Res Ptn raised shares of First Solar from a “hold” rating to a “strong-buy” rating in a report on Wednesday, January 15th. Deutsche Bank Aktiengesellschaft set a $265.00 price target on shares of First Solar in a report on Thursday, February 27th. Finally, Truist Financial reissued a “buy” rating and issued a $245.00 price target (down previously from $285.00) on shares of First Solar in a report on Wednesday, April 2nd. 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 company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $257.42.

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.