First Solar, Inc. (NASDAQ:FSLR) Holdings Raised by Peapack Gladstone Financial Corp

Peapack Gladstone Financial Corp increased its holdings in First Solar, Inc. (NASDAQ:FSLRFree Report) by 157.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,453 shares of the solar cell manufacturer’s stock after acquiring an additional 2,723 shares during the period. Peapack Gladstone Financial Corp’s holdings in First Solar were worth $768,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the business. Vanguard Group Inc. lifted 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 acquiring an additional 279,424 shares in the last quarter. Wellington Management Group LLP raised its stake in shares of First Solar by 10.2% during 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 raised its stake in shares of First Solar by 9.4% during 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 in the last quarter. Norges Bank purchased a new stake in shares of First Solar during the 4th quarter worth about $298,123,000. Finally, Clean Energy Transition LLP raised its stake 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 worth $191,750,000 after purchasing an additional 1,073,500 shares in the last quarter. 92.08% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at First Solar

In other First Solar news, CFO Alexander R. Bradley sold 16,051 shares of the business’s stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $274.69, for a total value of $4,409,049.19. Following the transaction, the chief financial officer now directly owns 30,652 shares in the company, valued at $8,419,797.88. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other First Solar news, CFO Alexander R. Bradley sold 16,051 shares of the business’s stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $274.69, for a total value of $4,409,049.19. Following the transaction, the chief financial officer now directly owns 30,652 shares in the company, valued at $8,419,797.88. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Michael T. Sweeney sold 4,000 shares of the business’s stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $273.50, for a total transaction of $1,094,000.00. Following the completion of the transaction, the director now owns 16,692 shares in the company, valued at $4,565,262. The disclosure for this sale can be found here. Insiders have sold a total of 56,519 shares of company stock worth $13,324,756 over the last ninety days. Corporate insiders own 0.58% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on FSLR shares. Wells Fargo & Company raised First Solar from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $187.00 to $250.00 in a research note on Friday, April 19th. Susquehanna reaffirmed a “positive” rating and set a $258.00 price target on shares of First Solar in a research note on Friday, April 5th. Mizuho reaffirmed a “neutral” rating and set a $274.00 price target (up from $209.00) on shares of First Solar in a research note on Thursday, May 30th. DZ Bank lowered First Solar from a “buy” rating to a “hold” rating and set a $270.00 price objective on the stock. in a report on Wednesday, May 29th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $195.00 price objective on shares of First Solar in a report on Wednesday, February 28th. Four research analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company. According to MarketBeat, First Solar presently has an average rating of “Moderate Buy” and a consensus target price of $255.84.

Check Out Our Latest Stock Analysis on FSLR

First Solar Trading Up 2.6 %

Shares of FSLR opened at $273.06 on Thursday. The stock has a 50 day simple moving average of $199.55 and a 200-day simple moving average of $171.11. The company has a current ratio of 2.41, a quick ratio of 1.86 and a debt-to-equity ratio of 0.06. The stock has a market cap of $29.23 billion, a PE ratio of 28.62, a PEG ratio of 0.35 and a beta of 1.48. First Solar, Inc. has a 1 year low of $129.21 and a 1 year high of $286.60.

First Solar (NASDAQ:FSLRGet Free Report) last issued its quarterly earnings data on Wednesday, May 1st. The solar cell manufacturer reported $2.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.90 by $0.30. First Solar had a return on equity of 16.24% and a net margin of 28.75%. The company had revenue of $794.10 million during the quarter, compared to analysts’ expectations of $718.19 million. During the same period last year, the business earned $0.40 earnings per share. The business’s revenue was up 44.8% on a year-over-year basis. On average, sell-side analysts predict that First Solar, Inc. will post 13.55 EPS for the current fiscal year.

First Solar Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for First Solar (NASDAQ:FSLR)

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