Hel Ved Capital Management Ltd Buys New Position in First Solar, Inc. (NASDAQ:FSLR)

Hel Ved Capital Management Ltd purchased a new position in shares of First Solar, Inc. (NASDAQ:FSLR) in the fourth quarter, HoldingsChannel reports. The fund purchased 12,450 shares of the solar cell manufacturer’s stock, valued at approximately $2,194,000.

A number of other institutional investors have also modified their holdings of FSLR. Norges Bank purchased a new stake in First Solar in the 4th quarter worth approximately $317,399,000. Wellington Management Group LLP grew its position in shares of First Solar by 75.8% in the third quarter. Wellington Management Group LLP now owns 2,097,364 shares of the solar cell manufacturer’s stock valued at $523,166,000 after purchasing an additional 904,498 shares during the period. Mirova US LLC increased its stake in First Solar by 961.0% in the fourth quarter. Mirova US LLC now owns 646,310 shares of the solar cell manufacturer’s stock valued at $113,906,000 after purchasing an additional 585,394 shares during the last quarter. Amundi increased its stake in First Solar by 31.0% in the fourth quarter. Amundi now owns 1,805,244 shares of the solar cell manufacturer’s stock valued at $336,871,000 after purchasing an additional 426,797 shares during the last quarter. Finally, Handelsbanken Fonder AB boosted its stake in First Solar by 110.4% in the 4th quarter. Handelsbanken Fonder AB now owns 375,010 shares of the solar cell manufacturer’s stock worth $66,092,000 after buying an additional 196,744 shares during the last quarter. Institutional investors and hedge funds own 92.08% of the company’s stock.

First Solar Price Performance

FSLR stock opened at $128.69 on Friday. The stock’s 50 day moving average is $145.44 and its two-hundred day moving average is $181.88. First Solar, Inc. has a 52-week low of $120.60 and a 52-week high of $306.77. The company has a market capitalization of $13.78 billion, a PE ratio of 11.08, a P/E/G ratio of 0.19 and a beta of 1.52. The company has a quick ratio of 1.44, a current ratio of 2.14 and a debt-to-equity ratio of 0.05.

First Solar (NASDAQ:FSLR) last issued its quarterly earnings results on Tuesday, February 25th. The solar cell manufacturer reported $3.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.81 by ($1.16). First Solar had a return on equity of 17.56% and a net margin of 32.41%. The company had revenue of $1.51 billion during the quarter, compared to the consensus estimate of $1.48 billion. Analysts predict that First Solar, Inc. will post 13.05 earnings per share for the current fiscal year.

Insider Activity

In related news, CTO Markus Gloeckler sold 380 shares of the firm’s stock in a transaction on Monday, March 17th. The stock was sold at an average price of $133.75, for a total transaction of $50,825.00. Following the transaction, the chief technology officer now directly owns 17,594 shares in the company, valued at $2,353,197.50. This trade represents a 2.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Mark R. Widmar sold 21,542 shares of the stock in a transaction on 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 directly owns 103,403 shares in the company, valued at $14,589,129.27. This trade represents a 17.24 % 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. 0.58% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on FSLR shares. Barclays dropped their price objective on shares of First Solar from $273.00 to $236.00 and set an “overweight” rating for the company in a research note on Friday, February 28th. Bank of America decreased their price target on shares of First Solar from $246.00 to $236.00 and set a “buy” rating on the stock in a report on Tuesday, January 28th. Piper Sandler dropped their price objective on First Solar from $250.00 to $230.00 and set an “overweight” rating for the company in a report on Wednesday, February 26th. Royal Bank of Canada reduced their target price on First Solar from $280.00 to $251.00 and set an “outperform” rating on the stock in a report on Wednesday, February 26th. Finally, Robert W. Baird dropped their price target on First Solar from $307.00 to $267.00 and set an “outperform” rating for the company in a research note 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 stock currently has an average rating of “Moderate Buy” and an average price target of $260.42.

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.