First Solar, Inc. (NASDAQ:FSLR) Shares Acquired by E Fund Management Co. Ltd.

E Fund Management Co. Ltd. boosted its holdings in First Solar, Inc. (NASDAQ:FSLR) by 42.0% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,169 shares of the solar cell manufacturer’s stock after buying an additional 642 shares during the quarter. E Fund Management Co. Ltd.’s holdings in First Solar were worth $382,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Strengthening Families & Communities LLC acquired a new position in First Solar in the third quarter worth approximately $25,000. Kennebec Savings Bank acquired a new position in First Solar in the third quarter worth approximately $29,000. Larson Financial Group LLC grew its position in First Solar by 214.0% in the third quarter. Larson Financial Group LLC now owns 157 shares of the solar cell manufacturer’s stock worth $39,000 after buying an additional 107 shares during the last quarter. Smartleaf Asset Management LLC grew its position in First Solar by 31.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 262 shares of the solar cell manufacturer’s stock worth $47,000 after buying an additional 63 shares during the last quarter. Finally, Crews Bank & Trust acquired a new position in First Solar in the fourth quarter worth approximately $53,000. Institutional investors and hedge funds own 92.08% of the company’s stock.

Analyst Ratings Changes

Several research analysts have issued reports on the stock. Wells Fargo & Company decreased their price target on shares of First Solar from $240.00 to $209.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 8th. Bank of America lowered their price objective on shares of First Solar from $246.00 to $236.00 and set a “buy” rating on the stock in a research report on Tuesday, January 28th. Truist Financial reiterated a “buy” rating and set a $285.00 price objective (down from $300.00) on shares of First Solar in a research report on Wednesday, February 26th. Royal Bank of Canada lowered their price objective on shares of First Solar from $280.00 to $251.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 26th. Finally, Robert W. Baird lowered their price objective on shares of First Solar from $307.00 to $267.00 and set an “outperform” rating on the stock in a research report on Wednesday, December 18th. Four equities research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $262.08.

First Solar Stock Up 6.1 %

FSLR stock opened at $139.13 on Friday. 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 $124.96 and a 1 year high of $306.77. The company has a fifty day simple moving average of $167.08 and a 200 day simple moving average of $194.60. The firm has a market cap of $14.90 billion, a PE ratio of 11.98, a PEG ratio of 0.19 and a beta of 1.52.

First Solar (NASDAQ:FSLR) last released 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 business had revenue of $1.51 billion during the quarter, compared to analyst estimates of $1.48 billion. Sell-side analysts anticipate that First Solar, Inc. will post 13.05 EPS for the current fiscal year.

Insider Activity at First Solar

In related news, CEO Mark R. Widmar sold 21,542 shares of First Solar stock in a transaction on Friday, February 28th. The shares were sold at an average price of $141.09, for a total value of $3,039,360.78. Following the completion of the sale, the chief executive officer now owns 103,403 shares of the company’s stock, valued at approximately $14,589,129.27. The trade was a 17.24 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Kuntal Kumar Verma sold 7,475 shares of First Solar 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 sale, the insider now directly owns 3,549 shares of the company’s stock, valued at approximately $484,793.40. The trade was a 67.81 % decrease in their position. The disclosure for this sale can be found here. 0.58% of the stock is owned by company insiders.

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.