First Solar, Inc. (NASDAQ:FSLR) Shares Purchased by Terra Nova Asset Management LLC

Terra Nova Asset Management LLC boosted its stake in First Solar, Inc. (NASDAQ:FSLR) by 11.6% during the fourth quarter, Holdings Channel.com reports. The fund owned 9,625 shares of the solar cell manufacturer’s stock after purchasing an additional 1,001 shares during the quarter. Terra Nova Asset Management LLC’s holdings in First Solar were worth $1,658,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Raymond James & Associates boosted its stake in First Solar by 160.6% during the 1st quarter. Raymond James & Associates now owns 26,796 shares of the solar cell manufacturer’s stock worth $2,244,000 after purchasing an additional 16,515 shares during the last quarter. American Century Companies Inc. boosted its position in shares of First Solar by 13.8% during the 1st quarter. American Century Companies Inc. now owns 8,472 shares of the solar cell manufacturer’s stock valued at $710,000 after acquiring an additional 1,030 shares during the last quarter. Cibc World Market Inc. raised its holdings in First Solar by 71.0% in the 1st quarter. Cibc World Market Inc. now owns 7,464 shares of the solar cell manufacturer’s stock valued at $625,000 after buying an additional 3,100 shares during the period. Blair William & Co. IL raised its holdings in First Solar by 1.8% in the 1st quarter. Blair William & Co. IL now owns 50,128 shares of the solar cell manufacturer’s stock valued at $4,198,000 after buying an additional 890 shares during the period. Finally, Sei Investments Co. increased its stake in First Solar by 11.6% during the first quarter. Sei Investments Co. now owns 25,804 shares of the solar cell manufacturer’s stock worth $2,161,000 after purchasing an additional 2,691 shares during the period. Institutional investors and hedge funds own 92.08% of the company’s stock.

Insider Buying and Selling at First Solar

In other First Solar news, CTO Markus Gloeckler sold 679 shares of the stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $160.00, for a total value of $108,640.00. Following the transaction, the chief technology officer now directly owns 14,473 shares in the company, valued at approximately $2,315,680. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CTO Markus Gloeckler sold 679 shares of the firm’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $160.00, for a total value of $108,640.00. Following the transaction, the chief technology officer now directly owns 14,473 shares in the company, valued at approximately $2,315,680. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Kuntal Kumar Verma sold 787 shares of the firm’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $160.00, for a total value of $125,920.00. Following the completion of the transaction, the insider now owns 4,920 shares in the company, valued at $787,200. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 19,883 shares of company stock worth $3,100,837. Insiders own 0.58% of the company’s stock.

First Solar Price Performance

NASDAQ FSLR opened at $168.80 on Friday. First Solar, Inc. has a twelve month low of $129.21 and a twelve month high of $232.00. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.92 and a current ratio of 3.55. The stock has a market capitalization of $18.04 billion, a PE ratio of 21.81, a P/E/G ratio of 0.29 and a beta of 1.41. The stock has a 50-day simple moving average of $152.04 and a 200 day simple moving average of $155.26.

First Solar (NASDAQ:FSLR) last issued its earnings results on Tuesday, February 27th. The solar cell manufacturer reported $3.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.19 by $0.06. The business had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.31 billion. First Solar had a return on equity of 13.80% and a net margin of 25.03%. First Solar’s quarterly revenue was up 15.5% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.07) EPS. Research analysts anticipate that First Solar, Inc. will post 13.51 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts recently issued reports on FSLR shares. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $195.00 price target on shares of First Solar in a report on Wednesday, February 28th. Wells Fargo & Company downgraded First Solar from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $215.00 to $187.00 in a report on Monday, January 8th. Susquehanna decreased their price objective on First Solar from $261.00 to $258.00 and set a “positive” rating for the company in a report on Wednesday, February 28th. Jefferies Financial Group began coverage on First Solar in a research note on Friday, December 15th. They set a “buy” rating and a $211.00 price target for the company. Finally, Morgan Stanley upgraded First Solar from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $214.00 to $237.00 in a research note on Friday, December 8th. Four 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 presently has an average rating of “Moderate Buy” and an average price target of $231.48.

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.