Daiwa Securities Group Inc. Raises Stake in First Solar, Inc. (NASDAQ:FSLR)

Daiwa Securities Group Inc. increased its holdings in shares of First Solar, Inc. (NASDAQ:FSLR) by 134.2% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 36,144 shares of the solar cell manufacturer’s stock after purchasing an additional 20,710 shares during the quarter. Daiwa Securities Group Inc.’s holdings in First Solar were worth $6,227,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of FSLR. Raymond James & Associates lifted its stake in shares of First Solar by 160.6% during the first 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 in the last quarter. American Century Companies Inc. lifted its position in 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 worth $710,000 after acquiring an additional 1,030 shares in the last quarter. Cibc World Market Inc. boosted 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 worth $625,000 after acquiring an additional 3,100 shares during the period. Blair William & Co. IL grew its position in First Solar by 1.8% in the first quarter. Blair William & Co. IL now owns 50,128 shares of the solar cell manufacturer’s stock valued at $4,198,000 after acquiring an additional 890 shares in the last quarter. Finally, Sei Investments Co. raised its stake in shares of First Solar by 11.6% during the first quarter. Sei Investments Co. now owns 25,804 shares of the solar cell manufacturer’s stock valued at $2,161,000 after purchasing an additional 2,691 shares during the period. 92.08% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on FSLR. Barclays raised 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. Janney Montgomery Scott started coverage on First Solar in a research report on Friday, April 12th. They set a “buy” rating and a $236.00 target price on the stock. Wells Fargo & Company raised First Solar from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $187.00 to $250.00 in a report on Friday. Susquehanna restated a “positive” rating and set a $258.00 price objective on shares of First Solar in a research note on Friday, April 5th. Finally, Roth Mkm reaffirmed a “buy” rating and issued a $230.00 target price on shares of First Solar in a research report on Thursday. Three analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $229.68.

First Solar Stock Up 0.4 %

Shares of First Solar stock opened at $175.04 on Friday. The stock has a market capitalization of $18.74 billion, a price-to-earnings ratio of 22.61, a PEG ratio of 0.30 and a beta of 1.41. First Solar, Inc. has a twelve month low of $129.21 and a twelve month high of $232.00. The company has a current ratio of 3.55, a quick ratio of 2.92 and a debt-to-equity ratio of 0.07. The business’s 50 day simple moving average is $161.34 and its 200-day simple moving average is $156.18.

First Solar (NASDAQ:FSLR) last issued its earnings results on Tuesday, February 27th. The solar cell manufacturer reported $3.25 earnings per share for the quarter, topping the consensus estimate of $3.19 by $0.06. The firm 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 period last year, the company earned ($0.07) earnings per share. Equities research analysts forecast that First Solar, Inc. will post 13.55 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Georges Antoun sold 2,400 shares of the stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of $176.00, for a total value of $422,400.00. Following the completion of the transaction, the insider now directly owns 37,412 shares of the company’s stock, valued at approximately $6,584,512. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Georges Antoun sold 2,400 shares of First Solar stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $176.00, for a total transaction of $422,400.00. Following the sale, the insider now directly owns 37,412 shares in the company, valued at $6,584,512. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Kuntal Kumar Verma sold 250 shares of the stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $148.34, for a total transaction of $37,085.00. Following the completion of the transaction, the insider now owns 5,170 shares of the company’s stock, valued at approximately $766,917.80. The disclosure for this sale can be found here. In the last 90 days, insiders sold 26,620 shares of company stock worth $4,269,540. Insiders own 0.58% of the company’s stock.

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.