Asset Management One Co. Ltd. Raises Stake in First Solar, Inc. (NASDAQ:FSLR)

Asset Management One Co. Ltd. raised its holdings in First Solar, Inc. (NASDAQ:FSLR) by 2.2% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 41,934 shares of the solar cell manufacturer’s stock after purchasing an additional 904 shares during the quarter. Asset Management One Co. Ltd.’s holdings in First Solar were worth $10,460,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in FSLR. National Pension Service increased its position in First Solar by 6.7% in the 3rd quarter. National Pension Service now owns 185,883 shares of the solar cell manufacturer’s stock valued at $46,367,000 after acquiring an additional 11,683 shares during the period. Robeco Institutional Asset Management B.V. increased its holdings in shares of First Solar by 1,757.2% in the third quarter. Robeco Institutional Asset Management B.V. now owns 546,193 shares of the solar cell manufacturer’s stock valued at $136,242,000 after purchasing an additional 516,783 shares during the period. Nvwm LLC raised its stake in shares of First Solar by 122,080.0% during the third quarter. Nvwm LLC now owns 6,109 shares of the solar cell manufacturer’s stock worth $1,524,000 after purchasing an additional 6,104 shares during the last quarter. Fullcircle Wealth LLC acquired a new stake in shares of First Solar during the third quarter worth $349,000. Finally, Gladstone Institutional Advisory LLC grew its position in First Solar by 33.3% in the 3rd quarter. Gladstone Institutional Advisory LLC now owns 1,739 shares of the solar cell manufacturer’s stock valued at $434,000 after buying an additional 434 shares during the last quarter. 92.08% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CAO Byron Michael Jeffers sold 500 shares of First Solar stock in a transaction on Monday, August 12th. The stock was sold at an average price of $220.00, for a total value of $110,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other First Solar news, insider Patrick James Buehler sold 8,619 shares of the stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $222.00, for a total transaction of $1,913,418.00. Following the transaction, the insider now owns 3,468 shares of the company’s stock, valued at $769,896. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Byron Michael Jeffers sold 500 shares of the business’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $220.00, for a total transaction of $110,000.00. The disclosure for this sale can be found here. Corporate insiders own 0.58% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on FSLR. Citigroup upgraded shares of First Solar from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $200.00 to $254.00 in a research report on Tuesday, October 22nd. Roth Mkm cut their price target on shares of First Solar from $320.00 to $280.00 and set a “buy” rating for the company in a report on Tuesday, October 15th. UBS Group lifted their price objective on First Solar from $350.00 to $360.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Oppenheimer increased their target price on First Solar from $325.00 to $326.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 31st. Finally, Clarkson Capital began coverage on First Solar in a research note on Wednesday, August 14th. They issued a “buy” rating and a $270.00 price target on the stock. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $281.13.

First Solar Trading Down 10.1 %

Shares of FSLR stock opened at $194.02 on Thursday. The company has a market capitalization of $20.77 billion, a price-to-earnings ratio of 16.71, a PEG ratio of 0.37 and a beta of 1.48. The company has a current ratio of 2.14, a quick ratio of 1.44 and a debt-to-equity ratio of 0.05. The firm has a 50-day moving average price of $220.87 and a 200 day moving average price of $225.16. First Solar, Inc. has a twelve month low of $129.21 and a twelve month high of $306.77.

First Solar (NASDAQ:FSLR) last posted its quarterly earnings data on Tuesday, October 29th. The solar cell manufacturer reported $2.91 earnings per share for the quarter, missing analysts’ consensus estimates of $3.10 by ($0.19). First Solar had a net margin of 32.41% and a return on equity of 17.56%. The firm had revenue of $887.70 million during the quarter, compared to analyst estimates of $1.07 billion. During the same period in the prior year, the firm earned $2.50 EPS. The business’s quarterly revenue was up 10.7% on a year-over-year basis. Research analysts forecast that First Solar, Inc. will post 13.12 earnings per share for the current fiscal year.

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.