Fisher Asset Management LLC Increases Holdings in First Solar, Inc. (NASDAQ:FSLR)

Fisher Asset Management LLC increased its stake in shares of First Solar, Inc. (NASDAQ:FSLR) by 9.1% during the fourth quarter, HoldingsChannel.com reports. The firm owned 39,280 shares of the solar cell manufacturer’s stock after buying an additional 3,275 shares during the period. Fisher Asset Management LLC’s holdings in First Solar were worth $6,767,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. increased its position in shares of First Solar by 2.4% during the third quarter. Vanguard Group Inc. now owns 12,040,031 shares of the solar cell manufacturer’s stock valued at $1,945,549,000 after buying an additional 279,424 shares during the period. Wellington Management Group LLP lifted 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 in the last quarter. Schroder Investment Management Group boosted its holdings 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 valued at $339,817,000 after purchasing an additional 181,034 shares during the period. Clean Energy Transition LLP grew its position in shares of First Solar by 948.8% during the 3rd quarter. Clean Energy Transition LLP now owns 1,186,646 shares of the solar cell manufacturer’s stock valued at $191,750,000 after purchasing an additional 1,073,500 shares in the last quarter. Finally, Northern Trust Corp increased its holdings in shares of First Solar by 8.0% in the third 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. Institutional investors own 92.08% of the company’s stock.

First Solar Price Performance

Shares of First Solar stock opened at $193.81 on Tuesday. First Solar, Inc. has a 52 week low of $129.21 and a 52 week high of $232.00. The company has a market cap of $20.75 billion, a PE ratio of 20.32, a P/E/G ratio of 0.33 and a beta of 1.37. The business has a 50 day moving average of $167.56 and a 200 day moving average of $158.61. The company has a quick ratio of 1.86, a current ratio of 2.41 and a debt-to-equity ratio of 0.06.

First Solar (NASDAQ:FSLR) last announced its earnings results on Wednesday, May 1st. The solar cell manufacturer reported $2.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.90 by $0.30. The business had revenue of $794.10 million for the quarter, compared to analysts’ expectations of $718.19 million. First Solar had a return on equity of 16.24% and a net margin of 28.75%. The business’s revenue for the quarter was up 44.8% on a year-over-year basis. During the same period last year, the firm posted $0.40 earnings per share. As a group, equities research analysts forecast that First Solar, Inc. will post 13.55 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Jefferies Financial Group lifted their price objective on First Solar from $209.50 to $211.00 and gave the company a “buy” rating in a research note on Thursday, May 2nd. Mizuho lifted their price target on First Solar from $196.00 to $209.00 and gave the company a “buy” rating in a research report on Thursday, May 2nd. DZ Bank assumed coverage on shares of First Solar in a research report on Wednesday, April 17th. They issued a “buy” rating and a $205.00 price objective on the stock. UBS Group raised their target price on shares of First Solar from $250.00 to $252.00 and gave the company a “buy” rating in a research note on Thursday, May 2nd. Finally, 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 research note on Tuesday, April 23rd. Three equities research analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $238.16.

Insider Transactions at First Solar

In other First Solar news, insider Georges Antoun sold 16,667 shares of the business’s stock in a transaction dated 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 completion of the sale, the insider now owns 42,041 shares of the company’s stock, valued at $6,539,477.55. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Georges Antoun sold 16,667 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the insider now directly owns 42,041 shares in the company, valued at approximately $6,539,477.55. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director R Craig Kennedy sold 1,500 shares of First Solar stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $157.76, for a total transaction of $236,640.00. Following the transaction, 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. Insiders sold 26,620 shares of company stock worth $4,269,540 in the last three months. Corporate 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.