Focus Partners Wealth Purchases 2,326 Shares of First Solar, Inc. (NASDAQ:FSLR)

Focus Partners Wealth boosted its position in First Solar, Inc. (NASDAQ:FSLR) by 102.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 4,601 shares of the solar cell manufacturer’s stock after acquiring an additional 2,326 shares during the period. Focus Partners Wealth’s holdings in First Solar were worth $855,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Clear Harbor Asset Management LLC increased its position in shares of First Solar by 0.6% during the fourth quarter. Clear Harbor Asset Management LLC now owns 9,210 shares of the solar cell manufacturer’s stock valued at $1,623,000 after acquiring an additional 55 shares during the last quarter. Smartleaf Asset Management LLC boosted its position in shares of First Solar by 31.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 262 shares of the solar cell manufacturer’s stock valued at $47,000 after acquiring an additional 63 shares during the last quarter. Independent Advisor Alliance boosted its position in shares of First Solar by 3.1% during the 4th quarter. Independent Advisor Alliance now owns 2,090 shares of the solar cell manufacturer’s stock valued at $368,000 after acquiring an additional 63 shares during the last quarter. Huntington National Bank boosted its position in shares of First Solar by 15.3% during the 4th quarter. Huntington National Bank now owns 511 shares of the solar cell manufacturer’s stock valued at $90,000 after acquiring an additional 68 shares during the last quarter. Finally, Evexia Wealth LLC boosted its position in shares of First Solar by 2.1% during the 4th quarter. Evexia Wealth LLC now owns 3,481 shares of the solar cell manufacturer’s stock valued at $586,000 after acquiring an additional 70 shares during the last quarter. Institutional investors own 92.08% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Robert W. Baird dropped their price target on First Solar from $267.00 to $240.00 and set an “outperform” rating for the company in a research report on Tuesday, April 15th. BMO Capital Markets dropped their price target on First Solar from $200.00 to $187.00 and set an “outperform” rating for the company in a research note on Wednesday, April 30th. Wells Fargo & Company decreased their price objective on First Solar from $191.00 to $177.00 and set an “overweight” rating on the stock in a report on Wednesday, April 30th. Redburn Atlantic assumed coverage on First Solar in a report on Monday, March 3rd. They set a “neutral” rating on the stock. Finally, Wolfe Research raised First Solar from a “peer perform” rating to an “outperform” rating and set a $221.00 price objective on the stock in a report on Tuesday, May 13th. Two research analysts have rated the stock with a sell rating, five have given a hold rating, twenty-four have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $224.48.

Insider Activity at First Solar

In related news, CEO Mark R. Widmar sold 1,272 shares of the stock in a transaction on Friday, March 7th. The stock was sold at an average price of $132.96, for a total value of $169,125.12. Following the transaction, the chief executive officer now owns 109,000 shares of the company’s stock, valued at $14,492,640. This represents a 1.15% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Kuntal Kumar Verma sold 7,475 shares of the stock in a transaction on 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 transaction, the insider now directly owns 3,549 shares in the company, valued at $484,793.40. This trade represents a 67.81% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 34,311 shares of company stock valued at $4,767,158. 0.48% of the stock is owned by insiders.

First Solar Stock Performance

Shares of FSLR opened at $178.46 on Monday. The stock has a 50-day moving average of $134.97 and a two-hundred day moving average of $162.92. First Solar, Inc. has a one year low of $116.56 and a one year high of $306.77. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.44 and a current ratio of 2.14. The stock has a market cap of $19.14 billion, a P/E ratio of 15.37, a P/E/G ratio of 0.19 and a beta of 1.46.

First Solar (NASDAQ:FSLR) last released its quarterly earnings data on Tuesday, April 29th. The solar cell manufacturer reported $1.95 earnings per share for the quarter, missing analysts’ consensus estimates of $2.50 by ($0.55). The company had revenue of $844.57 million for the quarter, compared to analysts’ expectations of $863.11 million. First Solar had a net margin of 32.41% and a return on equity of 17.56%. The business’s quarterly revenue was up 6.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.20 EPS. As a group, research analysts predict that First Solar, Inc. will post 13.05 EPS 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.