First Solar, Inc. (NASDAQ:FSLR) Shares Purchased by E Fund Management Co. Ltd.

E Fund Management Co. Ltd. boosted its stake in First Solar, Inc. (NASDAQ:FSLR) by 42.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,169 shares of the solar cell manufacturer’s stock after purchasing an additional 642 shares during the period. E Fund Management Co. Ltd.’s holdings in First Solar were worth $382,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Strengthening Families & Communities LLC acquired a new stake in shares of First Solar during the third quarter valued at about $25,000. Kennebec Savings Bank acquired a new stake in shares of First Solar during the third quarter valued at about $29,000. Larson Financial Group LLC grew its stake in shares of First Solar by 214.0% during the third quarter. Larson Financial Group LLC now owns 157 shares of the solar cell manufacturer’s stock valued at $39,000 after acquiring an additional 107 shares in the last quarter. Smartleaf Asset Management LLC grew its stake in shares of First Solar by 31.7% during the fourth 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 in the last quarter. Finally, Crews Bank & Trust acquired a new stake in shares of First Solar during the fourth quarter valued at about $53,000. 92.08% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Mark R. Widmar sold 21,542 shares of First Solar stock in a transaction that occurred 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 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 filing with the SEC, which is accessible through the SEC website. Also, insider Kuntal Kumar Verma sold 7,475 shares of the firm’s stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $136.60, for a total transaction of $1,021,085.00. Following the transaction, the insider now owns 3,549 shares in the company, valued at $484,793.40. This represents a 67.81 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.58% of the company’s stock.

First Solar Stock Performance

Shares of NASDAQ FSLR opened at $139.13 on Friday. The company has a quick ratio of 1.44, a current ratio of 2.14 and a debt-to-equity ratio of 0.05. The firm’s 50-day moving average price is $167.08 and its two-hundred day moving average price is $194.60. First Solar, Inc. has a 52-week low of $124.96 and a 52-week high of $306.77. The stock has a market capitalization of $14.90 billion, a P/E ratio of 11.98, a P/E/G ratio of 0.19 and a beta of 1.52.

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

Analyst Upgrades and Downgrades

FSLR has been the subject of several recent analyst reports. Guggenheim lowered their target price on First Solar from $335.00 to $304.00 and set a “buy” rating for the company in a research note on Thursday, February 27th. Royal Bank of Canada lowered their target price on First Solar from $280.00 to $251.00 and set an “outperform” rating for the company in a research note on Wednesday, February 26th. Roth Mkm restated a “buy” rating and set a $280.00 target price on shares of First Solar in a research note on Wednesday, February 26th. JPMorgan Chase & Co. reduced their price target on shares of First Solar from $282.00 to $268.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 26th. Finally, Bank of America reduced their price target on shares of First Solar from $246.00 to $236.00 and set a “buy” rating on the stock in a research report on Tuesday, January 28th. Four analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $262.08.

First Solar Company 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.