First Solar, Inc. (NASDAQ:FSLR) Shares Purchased by Grace & White Inc. NY

Grace & White Inc. NY raised its holdings in shares of First Solar, Inc. (NASDAQ:FSLR) by 0.5% in the fourth quarter, Holdings Channel.com reports. The firm owned 87,905 shares of the solar cell manufacturer’s stock after buying an additional 400 shares during the period. First Solar comprises 2.7% of Grace & White Inc. NY’s portfolio, making the stock its 11th largest holding. Grace & White Inc. NY’s holdings in First Solar were worth $15,144,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the business. Baystate Wealth Management LLC acquired a new position in shares of First Solar in the 4th quarter worth approximately $29,000. First Pacific Financial bought a new position in First Solar during the 3rd quarter worth $27,000. Estabrook Capital Management bought a new position in First Solar during the 3rd quarter worth $29,000. Headinvest LLC bought a new position in First Solar during the 3rd quarter worth $30,000. Finally, Rakuten Securities Inc. bought a new position in First Solar during the 4th quarter worth $34,000. Institutional investors and hedge funds own 92.08% of the company’s stock.

Insider Activity at First Solar

In related news, Director R Craig Kennedy sold 1,500 shares of the stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $157.76, for a total transaction of $236,640.00. Following the completion of the sale, the director now owns 15,641 shares in the company, valued at approximately $2,467,524.16. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other First Solar news, Director R Craig Kennedy sold 1,500 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $157.76, for a total value of $236,640.00. Following the completion of the sale, the director now owns 15,641 shares in the company, valued at approximately $2,467,524.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO Markus Gloeckler sold 679 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the chief technology officer now owns 14,473 shares of the company’s stock, valued at approximately $2,315,680. The disclosure for this sale can be found here. Insiders sold a total of 26,620 shares of company stock worth $4,269,540 in the last 90 days. 0.58% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research analysts have issued reports on FSLR shares. DZ Bank started coverage on First Solar in a research report on Wednesday, April 17th. They set a “buy” rating and a $205.00 price target for the company. Evercore ISI upgraded First Solar from an “in-line” rating to an “outperform” rating and set a $227.00 price objective for the company in a report on Tuesday. Susquehanna restated a “positive” rating and issued a $258.00 price objective on shares of First Solar in a report on Friday, April 5th. Bank of America upped their price objective on First Solar from $187.00 to $194.00 and gave the company a “buy” rating in a report on Wednesday, April 10th. Finally, Roth Mkm restated a “buy” rating and issued a $230.00 price objective on shares of First Solar in a report on Thursday, April 18th. Three investment analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company’s stock. According to MarketBeat, First Solar has a consensus rating of “Moderate Buy” and a consensus target price of $231.36.

First Solar Stock Up 2.2 %

Shares of NASDAQ FSLR traded up $3.82 during mid-day trading on Tuesday, reaching $180.10. 1,979,963 shares of the company traded hands, compared to its average volume of 2,090,990. 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 cap of $19.28 billion, a PE ratio of 22.78, a price-to-earnings-growth ratio of 0.30 and a beta of 1.41. The company’s fifty day moving average is $161.72 and its two-hundred day moving average is $156.46. First Solar, Inc. has a fifty-two week low of $129.21 and a fifty-two week high of $232.00.

First Solar (NASDAQ:FSLR) last issued its quarterly earnings data on Tuesday, February 27th. The solar cell manufacturer reported $3.25 EPS for the quarter, beating analysts’ consensus estimates of $3.19 by $0.06. The business had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.31 billion. First Solar had a return on equity of 13.80% and a net margin of 25.03%. The firm’s revenue for the quarter was up 15.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.07) EPS. On average, analysts expect that First Solar, Inc. will post 13.55 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.