Andrew Hill Investment Advisors Inc. Acquires 14,209 Shares of First Solar, Inc. (NASDAQ:FSLR)

Andrew Hill Investment Advisors Inc. grew its stake in shares of First Solar, Inc. (NASDAQ:FSLR) by 321.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 18,635 shares of the solar cell manufacturer’s stock after buying an additional 14,209 shares during the quarter. First Solar accounts for approximately 2.4% of Andrew Hill Investment Advisors Inc.’s portfolio, making the stock its 18th largest holding. Andrew Hill Investment Advisors Inc.’s holdings in First Solar were worth $3,284,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Whalen Wealth Management Inc. grew its holdings in First Solar by 47.0% during the 4th quarter. Whalen Wealth Management Inc. now owns 4,859 shares of the solar cell manufacturer’s stock valued at $856,000 after purchasing an additional 1,554 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its stake in First Solar by 665.8% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 39,192 shares of the solar cell manufacturer’s stock worth $7,308,000 after acquiring an additional 34,074 shares during the last quarter. Stifel Financial Corp increased its stake in First Solar by 36.9% in the 3rd quarter. Stifel Financial Corp now owns 21,446 shares of the solar cell manufacturer’s stock valued at $5,350,000 after buying an additional 5,780 shares during the period. Paragon Capital Management Inc. acquired a new stake in First Solar in the 4th quarter valued at about $1,240,000. Finally, Robeco Institutional Asset Management B.V. lifted its holdings in shares of First Solar by 9.0% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 595,267 shares of the solar cell manufacturer’s stock worth $104,910,000 after acquiring an additional 49,074 shares during the period. 92.08% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Truist Financial reaffirmed a “buy” rating and issued a $245.00 price objective (down previously from $285.00) on shares of First Solar in a report on Wednesday, April 2nd. Guggenheim reduced their target price on First Solar from $304.00 to $253.00 and set a “buy” rating for the company in a research note on Monday. Piper Sandler reduced their price target on First Solar from $250.00 to $230.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 26th. Redburn Atlantic began coverage on First Solar in a report on Monday, March 3rd. They set a “neutral” rating for the company. Finally, Roth Mkm reiterated a “buy” rating and set a $280.00 target price on shares of First Solar in a report on Wednesday, February 26th. Four investment analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, First Solar presently has an average rating of “Moderate Buy” and a consensus price target of $257.42.

Insider Buying and Selling

In other news, CEO Mark R. Widmar sold 1,966 shares of the company’s stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $133.75, for a total value of $262,952.50. Following the completion of the transaction, the chief executive officer now owns 111,890 shares of the company’s stock, valued at $14,965,287.50. This represents a 1.73 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 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 sale, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 34,311 shares of company stock valued at $4,767,158 over the last ninety days. 0.58% of the stock is owned by company insiders.

First Solar Trading Up 7.7 %

First Solar stock opened at $129.63 on Thursday. The company has a market cap of $13.88 billion, a P/E ratio of 11.17, a PEG ratio of 0.19 and a beta of 1.48. 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 firm’s 50-day moving average is $141.53 and its 200-day moving average is $177.84. First Solar, Inc. has a 1 year low of $116.56 and a 1 year high of $306.77.

First Solar (NASDAQ:FSLR) last announced its 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 for the quarter, compared to the consensus estimate of $1.48 billion. On average, equities analysts expect that First Solar, Inc. will post 13.05 earnings per share for the current year.

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.