968 Shares in First Solar, Inc. (NASDAQ:FSLR) Acquired by GAMMA Investing LLC

GAMMA Investing LLC purchased a new position in First Solar, Inc. (NASDAQ:FSLR) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 968 shares of the solar cell manufacturer’s stock, valued at approximately $167,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Vanguard Group Inc. boosted its stake in First Solar by 2.4% in the 3rd quarter. Vanguard Group Inc. now owns 12,040,031 shares of the solar cell manufacturer’s stock worth $1,945,549,000 after purchasing an additional 279,424 shares during the period. Wellington Management Group LLP boosted its stake in First Solar by 10.2% in the 3rd quarter. Wellington Management Group LLP now owns 2,283,705 shares of the solar cell manufacturer’s stock worth $369,024,000 after purchasing an additional 211,755 shares during the period. Schroder Investment Management Group boosted its stake in First Solar by 9.4% in the 3rd quarter. Schroder Investment Management Group now owns 2,102,959 shares of the solar cell manufacturer’s stock worth $339,817,000 after purchasing an additional 181,034 shares during the period. Clean Energy Transition LLP boosted its stake in First Solar by 948.8% in the 3rd quarter. Clean Energy Transition LLP now owns 1,186,646 shares of the solar cell manufacturer’s stock worth $191,750,000 after purchasing an additional 1,073,500 shares during the period. Finally, Northern Trust Corp boosted its stake in First Solar by 8.0% in the 3rd quarter. Northern Trust Corp now owns 1,003,771 shares of the solar cell manufacturer’s stock worth $162,199,000 after purchasing an additional 74,431 shares during the period. 92.08% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Director R Craig Kennedy sold 1,500 shares of the firm’s stock in a transaction 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 transaction, the director now owns 15,641 shares in the company, valued at $2,467,524.16. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, insider Georges Antoun sold 16,667 shares of the firm’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $155.55, for a total transaction of $2,592,551.85. Following the transaction, the insider now owns 42,041 shares in the company, valued at $6,539,477.55. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director R Craig Kennedy sold 1,500 shares of the firm’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $157.76, for a total value of $236,640.00. Following the sale, the director now directly owns 15,641 shares in the company, valued at approximately $2,467,524.16. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 26,620 shares of company stock worth $4,269,540. Company insiders own 0.58% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on FSLR. DZ Bank initiated coverage on First Solar in a research note on Wednesday, April 17th. They issued a “buy” rating and a $205.00 price target for the company. Roth Mkm reiterated a “buy” rating and set a $230.00 target price on shares of First Solar in a research report on Thursday, April 18th. Mizuho increased their target price on First Solar from $188.00 to $196.00 and gave the company a “buy” rating in a research report on Wednesday, January 3rd. Janney Montgomery Scott initiated coverage on First Solar in a research report on Friday, April 12th. They set a “buy” rating and a $236.00 target price for the company. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $195.00 target price on shares of First Solar in a research report on Wednesday, February 28th. Three analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $231.36.

First Solar Stock Performance

FSLR stock opened at $178.73 on Friday. The company has a quick ratio of 2.92, a current ratio of 3.55 and a debt-to-equity ratio of 0.07. The business’s fifty day simple moving average is $163.40 and its two-hundred day simple moving average is $157.20. First Solar, Inc. has a twelve month low of $129.21 and a twelve month high of $232.00. The firm has a market cap of $19.13 billion, a price-to-earnings ratio of 23.09, a PEG ratio of 0.30 and a beta of 1.41.

First Solar (NASDAQ:FSLR) last released its earnings results on Tuesday, February 27th. The solar cell manufacturer reported $3.25 earnings per share for the quarter, topping 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 business’s revenue was up 15.5% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.07) earnings per share. Analysts predict 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.