First Solar, Inc. (NASDAQ:FSLR) Shares Purchased by MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in First Solar, Inc. (NASDAQ:FSLR) by 212.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 79,585 shares of the solar cell manufacturer’s stock after buying an additional 54,109 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned 0.07% of First Solar worth $14,027,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC grew its holdings in shares of First Solar by 20.2% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 7,104 shares of the solar cell manufacturer’s stock worth $1,252,000 after purchasing an additional 1,192 shares during the period. Czech National Bank grew its holdings in shares of First Solar by 6.4% during the 4th quarter. Czech National Bank now owns 23,213 shares of the solar cell manufacturer’s stock worth $4,091,000 after purchasing an additional 1,401 shares during the period. Assenagon Asset Management S.A. grew its holdings in shares of First Solar by 340.8% during the 4th quarter. Assenagon Asset Management S.A. now owns 206,743 shares of the solar cell manufacturer’s stock worth $36,436,000 after purchasing an additional 159,845 shares during the period. Mirador Capital Partners LP grew its holdings in shares of First Solar by 34.6% during the 4th quarter. Mirador Capital Partners LP now owns 2,275 shares of the solar cell manufacturer’s stock worth $401,000 after purchasing an additional 585 shares during the period. Finally, Beech Hill Advisors Inc. grew its holdings in shares of First Solar by 2.6% during the 4th quarter. Beech Hill Advisors Inc. now owns 27,123 shares of the solar cell manufacturer’s stock worth $4,780,000 after purchasing an additional 683 shares during the period. 92.08% of the stock is owned by institutional investors and hedge funds.

First Solar Trading Down 3.5%

NASDAQ:FSLR opened at $186.18 on Friday. First Solar, Inc. has a 12-month low of $116.56 and a 12-month high of $306.77. The firm has a market capitalization of $19.97 billion, a P/E ratio of 16.04, a P/E/G ratio of 0.19 and a beta of 1.46. 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 business has a 50 day simple moving average of $134.18 and a 200 day simple moving average of $163.52.

First Solar (NASDAQ:FSLR) last released its quarterly earnings data on Tuesday, April 29th. The solar cell manufacturer reported $1.95 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.50 by ($0.55). First Solar had a net margin of 32.41% and a return on equity of 17.56%. The company had revenue of $844.57 million for the quarter, compared to analyst estimates of $863.11 million. During the same quarter in the prior year, the firm earned $2.20 EPS. The company’s revenue for the quarter was up 6.4% compared to the same quarter last year. Equities research analysts predict that First Solar, Inc. will post 13.05 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on FSLR. Glj Research upgraded First Solar from a “hold” rating to a “buy” rating and set a $172.37 target price for the company in a report on Thursday, May 1st. UBS Group reissued a “buy” rating and set a $255.00 price target on shares of First Solar in a research report on Wednesday. Robert W. Baird reduced their price target on First Solar from $267.00 to $240.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 15th. The Goldman Sachs Group reduced their price target on First Solar from $235.00 to $204.00 and set a “buy” rating on the stock in a research report on Tuesday. Finally, Bank of America reduced their price target on First Solar from $236.00 to $215.00 and set a “buy” rating on the stock in a research report on Tuesday, April 8th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating, twenty-four have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $224.48.

Insiders Place Their Bets

In other First Solar news, insider Kuntal Kumar Verma sold 7,475 shares of the business’s stock in a transaction on Friday, February 28th. The stock was sold at an average price of $136.60, for a total transaction of $1,021,085.00. Following the completion of the transaction, 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 position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Georges Antoun sold 229 shares of the business’s stock in a transaction on Monday, March 17th. The stock was sold at an average price of $133.75, for a total value of $30,628.75. Following the transaction, the insider now owns 52,836 shares of the company’s stock, valued at $7,066,815. This trade represents a 0.43% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 34,311 shares of company stock worth $4,767,158. 0.48% of the stock is owned by company insiders.

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.