J. Safra Sarasin Holding AG Purchases 9,748 Shares of First Solar, Inc. (NASDAQ:FSLR)

J. Safra Sarasin Holding AG boosted its holdings in shares of First Solar, Inc. (NASDAQ:FSLR) by 17.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 64,711 shares of the solar cell manufacturer’s stock after purchasing an additional 9,748 shares during the period. J. Safra Sarasin Holding AG’s holdings in First Solar were worth $11,405,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the business. Smartleaf Asset Management LLC boosted its stake in First Solar by 31.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 262 shares of the solar cell manufacturer’s stock valued at $47,000 after buying an additional 63 shares in the last quarter. Crews Bank & Trust acquired a new stake in shares of First Solar in the 4th quarter valued at approximately $53,000. Hudson Edge Investment Partners Inc. bought a new stake in shares of First Solar during the 4th quarter valued at approximately $53,000. CoreFirst Bank & Trust acquired a new position in First Solar during the 4th quarter worth approximately $54,000. Finally, Montag A & Associates Inc. increased its position in First Solar by 18.8% during the 4th quarter. Montag A & Associates Inc. now owns 475 shares of the solar cell manufacturer’s stock worth $84,000 after purchasing an additional 75 shares in the last quarter. Institutional investors and hedge funds own 92.08% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Mark R. Widmar sold 1,966 shares of First Solar stock in a transaction on Monday, March 17th. The stock was sold at an average price of $133.75, for a total transaction of $262,952.50. Following the completion of the sale, the chief executive officer now owns 111,890 shares of the company’s stock, valued at approximately $14,965,287.50. This trade represents a 1.73 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Kuntal Kumar Verma sold 7,475 shares of the firm’s stock in a transaction dated Friday, February 28th. The shares were 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 directly 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. Insiders have sold 34,311 shares of company stock worth $4,767,158 in the last three months. 0.48% of the stock is currently owned by corporate insiders.

First Solar Trading Up 2.9 %

NASDAQ:FSLR opened at $127.98 on Monday. The company has a market cap of $13.70 billion, a P/E ratio of 11.02, a P/E/G ratio of 0.19 and a beta of 1.48. First Solar, Inc. has a 1 year low of $116.56 and a 1 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 fifty day moving average price is $136.14 and its two-hundred day moving average price is $171.59.

First Solar (NASDAQ:FSLR) last issued 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 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. As a group, analysts expect that First Solar, Inc. will post 13.05 EPS for the current year.

Analysts Set New Price Targets

Several research analysts have recently issued reports on FSLR shares. Robert W. Baird lowered their price target on shares of First Solar from $267.00 to $240.00 and set an “outperform” rating for the company in a report on Tuesday, April 15th. JPMorgan Chase & Co. dropped their target price on First Solar from $282.00 to $268.00 and set an “overweight” rating for the company in a research report on Wednesday, February 26th. Citigroup cut their price target on First Solar from $254.00 to $236.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 26th. Redburn Atlantic started coverage on First Solar in a research note on Monday, March 3rd. They issued a “neutral” rating for the company. Finally, Truist Financial reiterated a “buy” rating and set a $245.00 target price (down from $285.00) on shares of First Solar in a research report on Wednesday, April 2nd. Four analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and two have given 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 $251.63.

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.