Ostrum Asset Management Buys Shares of 6,836 First Solar, Inc. (NASDAQ:FSLR)

Ostrum Asset Management purchased a new position in shares of First Solar, Inc. (NASDAQ:FSLR) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 6,836 shares of the solar cell manufacturer’s stock, valued at approximately $1,205,000.

A number of other institutional investors have also modified their holdings of FSLR. Clear Harbor Asset Management LLC grew its position in First Solar by 0.6% in the 4th quarter. Clear Harbor Asset Management LLC now owns 9,210 shares of the solar cell manufacturer’s stock valued at $1,623,000 after acquiring an additional 55 shares in the last quarter. Doliver Advisors LP boosted its stake in shares of First Solar by 1.2% in the fourth quarter. Doliver Advisors LP now owns 4,713 shares of the solar cell manufacturer’s stock valued at $831,000 after purchasing an additional 56 shares during the period. Smartleaf Asset Management LLC increased its stake 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 worth $47,000 after buying an additional 63 shares during the period. Independent Advisor Alliance lifted its holdings in First Solar by 3.1% during the 4th quarter. Independent Advisor Alliance now owns 2,090 shares of the solar cell manufacturer’s stock worth $368,000 after buying an additional 63 shares in the last quarter. Finally, Huntington National Bank boosted its position in First Solar by 15.3% in the 4th quarter. Huntington National Bank now owns 511 shares of the solar cell manufacturer’s stock valued at $90,000 after buying an additional 68 shares during the period. 92.08% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

FSLR has been the topic of several analyst reports. Royal Bank of Canada reduced their price objective on First Solar from $280.00 to $251.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 26th. Susquehanna reduced their price target on First Solar from $223.00 to $217.00 and set a “positive” rating on the stock in a research report on Monday, April 14th. Bank of America lowered their price objective on First Solar from $236.00 to $215.00 and set a “buy” rating for the company in a research report on Tuesday, April 8th. Wells Fargo & Company reduced their target price on shares of First Solar from $240.00 to $209.00 and set an “overweight” rating on the stock in a report on Wednesday, January 8th. Finally, Roth Mkm reiterated a “buy” rating and set a $280.00 price target on shares of First Solar in a report on Wednesday, February 26th. Four research 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. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $251.63.

Insider Buying and Selling

In related news, CEO Mark R. Widmar sold 21,542 shares of the company’s stock in a transaction that occurred 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 owns 103,403 shares in the company, valued at $14,589,129.27. This represents a 17.24 % decrease in their position. 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 First Solar stock in a transaction 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 transaction, the insider now directly owns 3,549 shares of the company’s stock, valued at approximately $484,793.40. This represents a 67.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 34,311 shares of company stock valued at $4,767,158. Corporate insiders own 0.48% of the company’s stock.

First Solar Stock Performance

NASDAQ FSLR opened at $127.98 on Monday. The stock has a market capitalization of $13.70 billion, a price-to-earnings ratio of 11.02, a PEG ratio of 0.19 and a beta of 1.48. The business’s 50 day moving average is $136.14 and its two-hundred day moving average is $171.59. First Solar, Inc. has a 12-month low of $116.56 and a 12-month high of $306.77. The company has a current ratio of 2.14, a quick ratio of 1.44 and a debt-to-equity ratio of 0.05.

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

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.