Charles Schwab Investment Management Inc. Has $136.29 Million Stock Holdings in First Solar, Inc. (NASDAQ:FSLR)

Charles Schwab Investment Management Inc. raised its stake in First Solar, Inc. (NASDAQ:FSLR) by 8.0% in the 4th quarter, Holdings Channel.com reports. The fund owned 773,292 shares of the solar cell manufacturer’s stock after buying an additional 57,188 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in First Solar were worth $136,285,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Field & Main Bank increased its stake in shares of First Solar by 4.1% in the 3rd quarter. Field & Main Bank now owns 1,385 shares of the solar cell manufacturer’s stock valued at $345,000 after purchasing an additional 55 shares during the last quarter. Covestor Ltd increased its stake in shares of First Solar by 6.4% in the 3rd quarter. Covestor Ltd now owns 916 shares of the solar cell manufacturer’s stock valued at $229,000 after purchasing an additional 55 shares during the last quarter. Clear Harbor Asset Management LLC increased its stake in shares of First Solar by 0.6% in the 4th quarter. Clear Harbor Asset Management LLC now owns 9,210 shares of the solar cell manufacturer’s stock valued at $1,623,000 after purchasing an additional 55 shares during the last quarter. Demars Financial Group LLC increased its stake in shares of First Solar by 1.4% in the 3rd quarter. Demars Financial Group LLC now owns 4,129 shares of the solar cell manufacturer’s stock valued at $1,030,000 after purchasing an additional 56 shares during the last quarter. Finally, Doliver Advisors LP increased its stake in shares of First Solar by 1.2% in the 4th quarter. Doliver Advisors LP now owns 4,713 shares of the solar cell manufacturer’s stock valued at $831,000 after purchasing an additional 56 shares during the last quarter. 92.08% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have recently issued reports on FSLR. UBS Group decreased their price target on First Solar from $360.00 to $285.00 and set a “buy” rating on the stock in a research note on Wednesday, February 26th. Morgan Stanley decreased their price target on First Solar from $297.00 to $238.00 and set an “overweight” rating on the stock in a research note on Thursday, February 27th. Wells Fargo & Company reduced their price objective on First Solar from $240.00 to $209.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 8th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $230.00 target price (down previously from $260.00) on shares of First Solar in a report on Wednesday, February 26th. Finally, Robert W. Baird lowered their target price on First Solar from $307.00 to $267.00 and set an “outperform” rating for the company in a report on Wednesday, December 18th. Four equities research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $262.08.

First Solar Stock Up 6.1 %

Shares of First Solar stock opened at $139.13 on Friday. First Solar, Inc. has a one year low of $124.96 and a one year high of $306.77. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.14 and a quick ratio of 1.44. The stock’s 50-day moving average is $167.95 and its 200 day moving average is $195.40. The firm has a market cap of $14.90 billion, a price-to-earnings ratio of 11.98, a PEG ratio of 0.19 and a beta of 1.52.

First Solar (NASDAQ:FSLR) last announced its earnings results on Tuesday, February 25th. The solar cell manufacturer reported $3.65 EPS for the quarter, missing the consensus estimate of $4.81 by ($1.16). First Solar had a net margin of 32.41% and a return on equity of 17.56%. The business had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.48 billion. Equities research analysts anticipate that First Solar, Inc. will post 13.05 EPS for the current year.

Insider Activity at First Solar

In related news, CEO Mark R. Widmar sold 21,542 shares of the company’s stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $141.09, for a total transaction of $3,039,360.78. Following the sale, the chief executive officer now owns 103,403 shares in the company, valued at $14,589,129.27. This represents a 17.24 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Kuntal Kumar Verma sold 7,475 shares of the stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $136.60, for a total value of $1,021,085.00. Following the completion of the transaction, the insider now owns 3,549 shares in the company, valued at approximately $484,793.40. The trade was a 67.81 % decrease in their position. The disclosure for this sale can be found here. 0.58% of the stock is owned by corporate insiders.

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.