First Solar, Inc. (NASDAQ:FSLR) Stock Holdings Increased by Parkside Financial Bank & Trust

Parkside Financial Bank & Trust raised its stake in First Solar, Inc. (NASDAQ:FSLR) by 531.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,507 shares of the solar cell manufacturer’s stock after acquiring an additional 2,110 shares during the period. Parkside Financial Bank & Trust’s holdings in First Solar were worth $432,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Baystate Wealth Management LLC acquired a new position in shares of First Solar during the fourth quarter worth approximately $29,000. First Pacific Financial acquired a new position in shares of First Solar during the third quarter worth approximately $27,000. Estabrook Capital Management acquired a new position in shares of First Solar during the third quarter worth approximately $29,000. Headinvest LLC acquired a new position in shares of First Solar during the third quarter worth approximately $30,000. Finally, Rakuten Securities Inc. acquired a new position in shares of First Solar during the fourth quarter worth approximately $34,000. 92.08% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

FSLR has been the subject of several analyst reports. Roth Mkm reiterated a “buy” rating and set a $230.00 price objective on shares of First Solar in a research report on Thursday, April 18th. DZ Bank started coverage on First Solar in a research report on Wednesday, April 17th. They issued a “buy” rating and a $205.00 target price for the company. Bank of America upped their target price on First Solar from $187.00 to $194.00 and gave the stock a “buy” rating in a research report on Wednesday, April 10th. Evercore ISI upgraded First Solar from an “in-line” rating to an “outperform” rating and set a $227.00 target price for the company in a research report on Tuesday. Finally, Wells Fargo & Company upgraded First Solar from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $187.00 to $250.00 in a research report on Friday. Three investment analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $231.36.

Insider Activity at First Solar

In related news, insider Georges Antoun sold 2,400 shares of the stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $176.00, for a total value of $422,400.00. Following the completion of the sale, the insider now owns 37,412 shares in the company, valued at $6,584,512. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other First Solar news, insider Kuntal Kumar Verma sold 250 shares of First Solar 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 owns 5,170 shares in the company, valued at $766,917.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Georges Antoun sold 2,400 shares of the stock in a transaction on Thursday, April 4th. The shares were sold at an average price of $176.00, for a total transaction of $422,400.00. Following the completion of the transaction, the insider now owns 37,412 shares of the company’s stock, valued at approximately $6,584,512. 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 ninety days. 0.58% of the stock is currently owned by insiders.

First Solar Stock Performance

FSLR stock traded up $3.08 during mid-day trading on Tuesday, reaching $179.36. 1,451,994 shares of the stock traded hands, compared to its average volume of 2,083,110. The company has a quick ratio of 2.92, a current ratio of 3.55 and a debt-to-equity ratio of 0.07. First Solar, Inc. has a 52 week low of $129.21 and a 52 week high of $232.00. The business has a 50-day moving average of $161.72 and a two-hundred day moving average of $156.46. The firm has a market capitalization of $19.20 billion, a PE ratio of 22.78, a P/E/G ratio of 0.30 and a beta of 1.41.

First Solar (NASDAQ:FSLR) last announced its earnings results on Tuesday, February 27th. The solar cell manufacturer reported $3.25 earnings per share for the quarter, beating the consensus estimate of $3.19 by $0.06. First Solar had a return on equity of 13.80% and a net margin of 25.03%. The firm had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.31 billion. During the same quarter in the prior year, the company earned ($0.07) EPS. The firm’s revenue for the quarter was up 15.5% compared to the same quarter last year. As a group, equities analysts predict that First Solar, Inc. will post 13.55 EPS for the current fiscal year.

First Solar 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.