First Solar, Inc. (NASDAQ:FSLR) Shares Acquired by PFG Investments LLC

PFG Investments LLC increased its stake in First Solar, Inc. (NASDAQ:FSLR) by 9.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,934 shares of the solar cell manufacturer’s stock after acquiring an additional 251 shares during the period. PFG Investments LLC’s holdings in First Solar were worth $505,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the stock. Advisory Services Network LLC raised its stake in shares of First Solar by 5.2% in the first quarter. Advisory Services Network LLC now owns 996 shares of the solar cell manufacturer’s stock valued at $217,000 after acquiring an additional 49 shares in the last quarter. Shay Capital LLC raised its stake in First Solar by 1.5% in the second quarter. Shay Capital LLC now owns 3,551 shares of the solar cell manufacturer’s stock valued at $675,000 after buying an additional 51 shares in the last quarter. Balentine LLC raised its stake in First Solar by 2.7% in the second quarter. Balentine LLC now owns 1,970 shares of the solar cell manufacturer’s stock valued at $374,000 after buying an additional 51 shares in the last quarter. Apollon Wealth Management LLC raised its stake in First Solar by 2.0% in the first quarter. Apollon Wealth Management LLC now owns 3,104 shares of the solar cell manufacturer’s stock valued at $675,000 after buying an additional 60 shares in the last quarter. Finally, SVB Wealth LLC raised its stake in First Solar by 2.1% in the first quarter. SVB Wealth LLC now owns 3,439 shares of the solar cell manufacturer’s stock valued at $748,000 after buying an additional 71 shares in the last quarter. 92.08% of the stock is currently owned by institutional investors and hedge funds.

First Solar Price Performance

Shares of NASDAQ:FSLR opened at $167.45 on Thursday. The company has a 50-day moving average price of $151.62 and a 200 day moving average price of $155.16. First Solar, Inc. has a 52 week low of $129.21 and a 52 week high of $232.00. The company has a quick ratio of 2.92, a current ratio of 3.55 and a debt-to-equity ratio of 0.07. The company has a market cap of $17.89 billion, a P/E ratio of 21.63, a PEG ratio of 0.26 and a beta of 1.41.

First Solar (NASDAQ:FSLR) last posted its quarterly earnings results on Tuesday, February 27th. The solar cell manufacturer reported $3.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.19 by $0.06. First Solar had a net margin of 25.03% and a return on equity of 13.80%. The company had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.31 billion. During the same period last year, the firm earned ($0.07) EPS. The company’s revenue for the quarter was up 15.5% on a year-over-year basis. Research analysts predict that First Solar, Inc. will post 13.5 earnings per share for the current year.

Insiders Place Their Bets

In other First Solar news, insider Kuntal Kumar Verma sold 250 shares of First Solar stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $148.34, for a total value of $37,085.00. Following the completion of the sale, the insider now directly owns 5,170 shares of the company’s stock, valued at approximately $766,917.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, insider Georges Antoun sold 16,667 shares of the business’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $155.55, for a total transaction of $2,592,551.85. Following the completion of the sale, the insider now directly owns 42,041 shares of the company’s stock, valued at approximately $6,539,477.55. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Kuntal Kumar Verma sold 250 shares of the business’s stock in a transaction on Monday, March 18th. The shares were sold at an average price of $148.34, for a total transaction of $37,085.00. Following the sale, the insider now directly owns 5,170 shares of the company’s stock, valued at $766,917.80. The disclosure for this sale can be found here. In the last three months, insiders sold 19,883 shares of company stock valued at $3,100,837. Company insiders own 0.58% of the company’s stock.

Analysts Set New Price Targets

FSLR has been the topic of a number of analyst reports. Mizuho raised their price target on First Solar from $188.00 to $196.00 and gave the company a “buy” rating in a research note on Wednesday, January 3rd. Wells Fargo & Company cut First Solar from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $215.00 to $187.00 in a research note on Monday, January 8th. Susquehanna dropped their price objective on First Solar from $261.00 to $258.00 and set a “positive” rating on the stock in a report on Wednesday, February 28th. Oppenheimer raised their price objective on First Solar from $268.00 to $269.00 and gave the stock an “outperform” rating in a report on Wednesday, February 28th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $195.00 price objective on shares of First Solar in a report on Wednesday, February 28th. Four investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to data from MarketBeat, First Solar currently has an average rating of “Moderate Buy” and a consensus price target of $231.48.

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.