First Solar, Inc. (NASDAQ:FSLR) Shares Acquired by Cohen & Steers Inc.

Cohen & Steers Inc. lifted its position in First Solar, Inc. (NASDAQ:FSLR) by 40.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 24,302 shares of the solar cell manufacturer’s stock after purchasing an additional 7,051 shares during the quarter. Cohen & Steers Inc.’s holdings in First Solar were worth $4,283,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of FSLR. Stamos Capital Partners L.P. raised its position in First Solar by 44.6% in the fourth quarter. Stamos Capital Partners L.P. now owns 8,370 shares of the solar cell manufacturer’s stock valued at $1,475,000 after purchasing an additional 2,580 shares during the period. Optimize Financial Inc purchased a new stake in First Solar in the 4th quarter valued at about $1,468,000. Sterling Capital Management LLC lifted its position in First Solar by 55.4% in the fourth quarter. Sterling Capital Management LLC now owns 6,320 shares of the solar cell manufacturer’s stock valued at $1,114,000 after buying an additional 2,254 shares during the last quarter. Clean Energy Transition LLP lifted its position in First Solar by 36.2% in the fourth quarter. Clean Energy Transition LLP now owns 935,147 shares of the solar cell manufacturer’s stock valued at $164,810,000 after buying an additional 248,447 shares during the last quarter. Finally, Jaffetilchin Investment Partners LLC increased its position in shares of First Solar by 1,170.0% during the fourth quarter. Jaffetilchin Investment Partners LLC now owns 1,270 shares of the solar cell manufacturer’s stock valued at $224,000 after acquiring an additional 1,170 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 other news, insider Kuntal Kumar Verma sold 7,475 shares of the company’s stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $136.60, for a total value of $1,021,085.00. Following the completion of the sale, the insider now directly owns 3,549 shares of the company’s stock, valued at approximately $484,793.40. This represents a 67.81 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Georges Antoun sold 229 shares of the firm’s stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $133.75, for a total value of $30,628.75. Following the transaction, the insider now directly owns 52,836 shares in the company, valued at approximately $7,066,815. This represents a 0.43 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 34,311 shares of company stock worth $4,767,158. 0.58% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on FSLR shares. Wells Fargo & Company lowered their price objective on shares of First Solar from $240.00 to $209.00 and set an “overweight” rating for the company in a research report on Wednesday, January 8th. Seaport Res Ptn upgraded First Solar from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, January 15th. Bank of America dropped their price objective on First Solar from $236.00 to $215.00 and set a “buy” rating for the company in a research note on Tuesday, April 8th. Piper Sandler lowered their target price on First Solar from $250.00 to $230.00 and set an “overweight” rating for the company in a report on Wednesday, February 26th. Finally, Guggenheim cut their price target on shares of First Solar from $304.00 to $253.00 and set a “buy” rating on the stock in a research note on Monday, April 7th. Four investment analysts have rated the stock with a hold rating, twenty-three have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, First Solar presently has a consensus rating of “Moderate Buy” and a consensus target price of $252.75.

First Solar Trading Up 4.2 %

NASDAQ FSLR opened at $131.26 on Tuesday. First Solar, Inc. has a 12 month low of $116.56 and a 12 month high of $306.77. The company has a market capitalization of $14.05 billion, a price-to-earnings ratio of 11.31, a price-to-earnings-growth ratio of 0.19 and a beta of 1.48. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.14 and a quick ratio of 1.44. The firm’s fifty day moving average price is $139.20 and its 200 day moving average price is $174.76.

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

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.