6,836 Shares in First Solar, Inc. (NASDAQ:FSLR) Purchased by Ostrum Asset Management

Ostrum Asset Management bought a new stake in First Solar, Inc. (NASDAQ:FSLR) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 6,836 shares of the solar cell manufacturer’s stock, valued at approximately $1,205,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Whalen Wealth Management Inc. lifted its stake in shares of First Solar by 47.0% during the fourth quarter. Whalen Wealth Management Inc. now owns 4,859 shares of the solar cell manufacturer’s stock valued at $856,000 after buying an additional 1,554 shares during the period. Allspring Global Investments Holdings LLC lifted its stake in shares of First Solar by 665.8% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 39,192 shares of the solar cell manufacturer’s stock worth $7,308,000 after purchasing an additional 34,074 shares during the period. Paragon Capital Management Inc. acquired a new stake in shares of First Solar during the fourth quarter worth $1,240,000. Robeco Institutional Asset Management B.V. grew its position in shares of First Solar by 9.0% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 595,267 shares of the solar cell manufacturer’s stock valued at $104,910,000 after purchasing an additional 49,074 shares during the period. Finally, Golden State Equity Partners increased its stake in First Solar by 41,342.9% in the fourth quarter. Golden State Equity Partners now owns 2,901 shares of the solar cell manufacturer’s stock valued at $511,000 after purchasing an additional 2,894 shares during the last quarter. 92.08% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at First Solar

In other First Solar news, CEO Mark R. Widmar sold 1,966 shares of First Solar stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $133.75, for a total value of $262,952.50. Following the completion of the transaction, the chief executive officer now directly owns 111,890 shares in the company, valued at $14,965,287.50. The trade was a 1.73 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Alexander R. Bradley sold 599 shares of the firm’s stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $133.75, for a total value of $80,116.25. Following the completion of the sale, the chief financial officer now directly owns 45,717 shares in the company, valued at approximately $6,114,648.75. This trade represents a 1.29 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 34,311 shares of company stock worth $4,767,158 over the last 90 days. Insiders own 0.48% of the company’s stock.

First Solar Trading Up 2.9 %

FSLR opened at $127.98 on Monday. The stock has a market capitalization of $13.70 billion, a PE ratio of 11.02, a P/E/G 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. First Solar, Inc. has a 12-month low of $116.56 and a 12-month high of $306.77. The firm’s fifty day moving average price is $136.14 and its 200 day moving average price is $171.59.

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

Analyst Upgrades and Downgrades

FSLR has been the topic of a number of research analyst reports. Deutsche Bank Aktiengesellschaft set a $265.00 price target on First Solar in a research note on Thursday, February 27th. Royal Bank of Canada dropped their price target on shares of First Solar from $280.00 to $251.00 and set an “outperform” rating for the company in a research report on Wednesday, February 26th. Piper Sandler lowered their price objective on shares of First Solar from $250.00 to $230.00 and set an “overweight” rating for the company in a research note on Wednesday, February 26th. Robert W. Baird cut their target price on First Solar from $267.00 to $240.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 15th. Finally, Seaport Res Ptn raised First Solar from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, January 15th. Four equities research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, First Solar presently has an average rating of “Moderate Buy” and an average price target of $251.63.

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.