Siemens Fonds Invest GmbH Has $484,000 Stock Holdings in First Solar, Inc. (NASDAQ:FSLR)

Siemens Fonds Invest GmbH lifted its stake in First Solar, Inc. (NASDAQ:FSLR) by 147.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,749 shares of the solar cell manufacturer’s stock after acquiring an additional 1,640 shares during the quarter. Siemens Fonds Invest GmbH’s holdings in First Solar were worth $484,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Whalen Wealth Management Inc. raised its stake in shares of 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 worth $856,000 after purchasing an additional 1,554 shares in the last quarter. Allspring Global Investments Holdings LLC raised its position in First Solar by 665.8% during 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 in the last quarter. Paragon Capital Management Inc. bought a new stake in First Solar during the fourth quarter worth $1,240,000. Robeco Institutional Asset Management B.V. lifted its stake in First Solar by 9.0% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 595,267 shares of the solar cell manufacturer’s stock valued at $104,910,000 after acquiring an additional 49,074 shares during the last quarter. Finally, Golden State Equity Partners grew its position in shares of First Solar by 41,342.9% in the 4th quarter. Golden State Equity Partners now owns 2,901 shares of the solar cell manufacturer’s stock valued at $511,000 after acquiring an additional 2,894 shares during the period. Institutional investors own 92.08% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on FSLR. Robert W. Baird dropped their target price on shares of First Solar from $267.00 to $240.00 and set an “outperform” rating on the stock in a report on Tuesday, April 15th. Piper Sandler cut their price objective on First Solar from $230.00 to $205.00 and set an “overweight” rating for the company in a research report on Monday, April 21st. Wells Fargo & Company decreased their target price on First Solar from $191.00 to $177.00 and set an “overweight” rating on the stock in a report on Wednesday, April 30th. Guggenheim cut their price target on First Solar from $253.00 to $202.00 and set a “buy” rating for the company in a report on Thursday, May 1st. Finally, Glj Research upgraded shares of First Solar from a “hold” rating to a “buy” rating and set a $172.37 price objective on the stock in a report on Thursday, May 1st. 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. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $224.48.

Insider Activity

In other First Solar news, CEO Mark R. Widmar sold 1,966 shares of the company’s stock in a transaction that occurred on Monday, March 17th. The shares were 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 directly owns 111,890 shares in the company, valued at approximately $14,965,287.50. This represents a 1.73% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Alexander R. Bradley sold 599 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 transaction of $80,116.25. Following the completion of the sale, the chief financial officer now directly owns 45,717 shares in the company, valued at approximately $6,114,648.75. This represents a 1.29% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 34,311 shares of company stock valued at $4,767,158. 0.48% of the stock is currently owned by corporate insiders.

First Solar Price Performance

FSLR stock opened at $178.46 on Friday. The stock has a market cap of $19.14 billion, a price-to-earnings ratio of 15.37, 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 company has a 50 day simple moving average of $134.97 and a 200 day simple moving average of $163.14. 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 quarterly earnings results on Tuesday, April 29th. The solar cell manufacturer reported $1.95 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.50 by ($0.55). First Solar had a return on equity of 17.56% and a net margin of 32.41%. The company had revenue of $844.57 million for the quarter, compared to analyst estimates of $863.11 million. During the same quarter last year, the company posted $2.20 earnings per share. The firm’s quarterly revenue was up 6.4% on a year-over-year basis. Research analysts anticipate that First Solar, Inc. will post 13.05 EPS for the current fiscal 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.