First Solar, Inc. (NASDAQ:FSLR) Shares Acquired by HighTower Advisors LLC

HighTower Advisors LLC lifted its stake in shares of First Solar, Inc. (NASDAQ:FSLR) by 6.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 55,550 shares of the solar cell manufacturer’s stock after buying an additional 3,502 shares during the quarter. HighTower Advisors LLC owned approximately 0.05% of First Solar worth $9,790,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Clear Harbor Asset Management LLC boosted its holdings in First Solar by 0.6% in the fourth quarter. Clear Harbor Asset Management LLC now owns 9,210 shares of the solar cell manufacturer’s stock worth $1,623,000 after purchasing an additional 55 shares during the period. Doliver Advisors LP boosted its holdings in First Solar by 1.2% in the fourth quarter. Doliver Advisors LP now owns 4,713 shares of the solar cell manufacturer’s stock worth $831,000 after purchasing an additional 56 shares during the period. Smartleaf Asset Management LLC boosted its holdings 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 purchasing an additional 63 shares during the period. Independent Advisor Alliance boosted its holdings in First Solar by 3.1% in the fourth quarter. Independent Advisor Alliance now owns 2,090 shares of the solar cell manufacturer’s stock worth $368,000 after purchasing an additional 63 shares during the period. Finally, Mutual Advisors LLC boosted its holdings in shares of First Solar by 5.3% during the fourth quarter. Mutual Advisors LLC now owns 1,463 shares of the solar cell manufacturer’s stock valued at $279,000 after acquiring an additional 73 shares during the period. Institutional investors and hedge funds own 92.08% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on FSLR. Wells Fargo & Company reduced their price target on shares of First Solar from $240.00 to $209.00 and set an “overweight” rating for the company in a report on Wednesday, January 8th. Robert W. Baird reduced their price target on shares of First Solar from $307.00 to $267.00 and set an “outperform” rating for the company in a report on Wednesday, December 18th. Barclays reduced their price target on shares of First Solar from $273.00 to $236.00 and set an “overweight” rating for the company in a report on Friday, February 28th. Guggenheim reduced their price target on shares of First Solar from $335.00 to $304.00 and set a “buy” rating for the company in a report on Thursday, February 27th. Finally, Bank of America reduced their price target on shares of First Solar from $246.00 to $236.00 and set a “buy” rating for the company in a report on Tuesday, January 28th. Four research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $262.08.

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 stock was sold at an average price of $136.60, for a total value of $1,021,085.00. Following the transaction, the insider now owns 3,549 shares in the company, valued at $484,793.40. This represents a 67.81 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Mark R. Widmar sold 21,542 shares of the company’s stock in a transaction dated 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 transaction, 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 position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 30,739 shares of company stock valued at $4,289,403. 0.58% of the stock is currently owned by corporate insiders.

First Solar Price Performance

FSLR stock opened at $133.03 on Tuesday. 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 one year low of $124.96 and a one year high of $306.77. The firm has a market capitalization of $14.24 billion, a PE ratio of 11.46, a P/E/G ratio of 0.19 and a beta of 1.52. The firm has a 50-day moving average of $161.31 and a two-hundred day moving average of $190.44.

First Solar (NASDAQ:FSLR) last posted its quarterly earnings data 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). 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 analysts’ expectations of $1.48 billion. On average, analysts forecast that First Solar, Inc. will post 13.05 earnings per share for the current year.

First Solar Company 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.