First Solar, Inc. (NASDAQ:FSLR) Shares Acquired by Tokio Marine Asset Management Co. Ltd.

Tokio Marine Asset Management Co. Ltd. grew its stake in shares of First Solar, Inc. (NASDAQ:FSLR) by 12.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,936 shares of the solar cell manufacturer’s stock after acquiring an additional 334 shares during the period. Tokio Marine Asset Management Co. Ltd.’s holdings in First Solar were worth $506,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the stock. South Dakota Investment Council acquired a new position in First Solar during the 4th quarter worth $10,439,000. Grace & White Inc. NY grew its holdings in First Solar by 0.5% during the 4th quarter. Grace & White Inc. NY now owns 87,905 shares of the solar cell manufacturer’s stock worth $15,144,000 after acquiring an additional 400 shares in the last quarter. GAMMA Investing LLC acquired a new position in First Solar during the 4th quarter worth $167,000. Parkside Financial Bank & Trust grew its holdings in First Solar by 531.5% during the 4th quarter. Parkside Financial Bank & Trust now owns 2,507 shares of the solar cell manufacturer’s stock worth $432,000 after acquiring an additional 2,110 shares in the last quarter. Finally, Significant Wealth Partners LLC acquired a new position in First Solar during the 4th quarter worth $355,000. 92.08% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Janney Montgomery Scott started coverage on shares of First Solar in a report on Friday, April 12th. They set a “buy” rating and a $236.00 price objective for the company. Evercore ISI raised shares of First Solar from an “in-line” rating to an “outperform” rating and set a $227.00 price target for the company in a report on Tuesday, April 23rd. Barclays lifted their price target on shares of First Solar from $224.00 to $227.00 and gave the company an “overweight” rating in a report on Friday, April 19th. Oppenheimer reaffirmed an “outperform” rating and issued a $269.00 price target on shares of First Solar in a report on Wednesday, April 17th. Finally, Susquehanna reaffirmed a “positive” rating and issued a $258.00 price target on shares of First Solar in a report on Friday, April 5th. Three research analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $231.36.

First Solar Stock Up 2.1 %

FSLR stock opened at $178.73 on Friday. First Solar, Inc. has a 52 week low of $129.21 and a 52 week high of $232.00. The company has a market capitalization of $19.13 billion, a price-to-earnings ratio of 23.09, a price-to-earnings-growth ratio of 0.31 and a beta of 1.41. The firm’s 50-day moving average is $163.40 and its two-hundred day moving average is $157.24. The company has a current ratio of 3.55, a quick ratio of 2.92 and a debt-to-equity ratio of 0.07.

First Solar (NASDAQ:FSLR) last released its quarterly earnings results on Tuesday, February 27th. The solar cell manufacturer reported $3.25 EPS for the quarter, topping analysts’ consensus estimates of $3.19 by $0.06. The company had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.31 billion. First Solar had a net margin of 25.03% and a return on equity of 13.80%. First Solar’s revenue was up 15.5% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.07) EPS. On average, analysts forecast that First Solar, Inc. will post 13.55 earnings per share for the current fiscal year.

Insider Transactions at First Solar

In other news, CTO Markus Gloeckler sold 679 shares of First Solar stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $160.00, for a total value of $108,640.00. Following the transaction, the chief technology officer now owns 14,473 shares of the company’s stock, valued at approximately $2,315,680. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Georges Antoun sold 16,667 shares of First Solar stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $155.55, for a total value of $2,592,551.85. Following the transaction, the insider now directly owns 42,041 shares of the company’s stock, valued at $6,539,477.55. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CTO Markus Gloeckler sold 679 shares of First Solar stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $160.00, for a total transaction of $108,640.00. Following the completion of the transaction, the chief technology officer now directly owns 14,473 shares in the company, valued at $2,315,680. The disclosure for this sale can be found here. Insiders have sold 26,620 shares of company stock valued at $4,269,540 in the last quarter. Insiders own 0.58% of the company’s stock.

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.