Ethic Inc. Acquires 4,542 Shares of First Solar, Inc. (NASDAQ:FSLR)

Ethic Inc. grew its holdings in First Solar, Inc. (NASDAQ:FSLR) by 34.2% during the 4th quarter, HoldingsChannel.com reports. The firm owned 17,807 shares of the solar cell manufacturer’s stock after buying an additional 4,542 shares during the quarter. Ethic Inc.’s holdings in First Solar were worth $3,138,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Smartleaf Asset Management LLC raised its holdings in First Solar by 31.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 262 shares of the solar cell manufacturer’s stock valued at $47,000 after acquiring an additional 63 shares during the period. Crews Bank & Trust purchased a new position in shares of First Solar in the fourth quarter valued at $53,000. Hudson Edge Investment Partners Inc. bought a new stake in shares of First Solar during the 4th quarter valued at $53,000. Banque Transatlantique SA purchased a new stake in First Solar during the 4th quarter worth about $53,000. Finally, CoreFirst Bank & Trust bought a new position in First Solar in the 4th quarter worth about $54,000. 92.08% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on FSLR. JPMorgan Chase & Co. lowered their price target on shares of First Solar from $282.00 to $268.00 and set an “overweight” rating on the stock in a report on Wednesday, February 26th. Barclays lowered their target price on shares of First Solar from $236.00 to $204.00 and set an “overweight” rating on the stock in a research note on Friday, April 11th. BMO Capital Markets reduced their price target on shares of First Solar from $200.00 to $187.00 and set an “outperform” rating for the company in a research report on Wednesday, April 30th. Redburn Atlantic began coverage on First Solar in a research report on Monday, March 3rd. They issued a “neutral” rating on the stock. Finally, Guggenheim reduced their target price on First Solar from $253.00 to $202.00 and set a “buy” rating for the company in a research report on Thursday, May 1st. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, twenty-three have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, First Solar presently has an average rating of “Moderate Buy” and a consensus target price of $223.87.

First Solar Stock Up 5.2 %

Shares of First Solar stock opened at $140.74 on Friday. The company’s 50 day moving average price is $130.33 and its 200-day moving average price is $163.77. First Solar, Inc. has a 52-week low of $116.56 and a 52-week high of $306.77. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.44 and a current ratio of 2.14. The stock has a market capitalization of $15.09 billion, a price-to-earnings ratio of 12.12, a P/E/G ratio of 0.19 and a beta of 1.46.

First Solar (NASDAQ:FSLR) last issued its quarterly earnings data on Tuesday, April 29th. The solar cell manufacturer reported $1.95 EPS for the quarter, missing the consensus estimate of $2.50 by ($0.55). The firm had revenue of $844.57 million for the quarter, compared to the consensus estimate of $863.11 million. First Solar had a net margin of 32.41% and a return on equity of 17.56%. The business’s revenue was up 6.4% on a year-over-year basis. During the same period last year, the company posted $2.20 earnings per share. Equities research analysts forecast that First Solar, Inc. will post 13.05 EPS for the current year.

Insider Activity

In other First Solar news, CEO Mark R. Widmar sold 21,542 shares of the business’s stock in a transaction on Friday, February 28th. The stock was sold at an average price of $141.09, for a total value of $3,039,360.78. Following the sale, the chief executive officer now directly owns 103,403 shares of the company’s stock, valued at approximately $14,589,129.27. The trade was a 17.24 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CTO Markus Gloeckler sold 380 shares of First Solar stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $133.75, for a total transaction of $50,825.00. Following the completion of the transaction, the chief technology officer now directly owns 17,594 shares of the company’s stock, valued at $2,353,197.50. This trade represents a 2.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 34,311 shares of company stock worth $4,767,158. Corporate insiders own 0.48% of the company’s stock.

About First Solar

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.