MUFG Securities EMEA plc Acquires 2,349 Shares of First Solar, Inc. $FSLR

MUFG Securities EMEA plc increased its holdings in shares of First Solar, Inc. (NASDAQ:FSLR) by 114.4% in the 4th quarter, HoldingsChannel.com reports. The firm owned 4,402 shares of the solar cell manufacturer’s stock after acquiring an additional 2,349 shares during the period. MUFG Securities EMEA plc’s holdings in First Solar were worth $1,150,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the business. Edgemoor Investment Advisors Inc. grew its position in First Solar by 41.4% in the fourth quarter. Edgemoor Investment Advisors Inc. now owns 7,807 shares of the solar cell manufacturer’s stock valued at $2,039,000 after purchasing an additional 2,287 shares in the last quarter. Impact Partnership Wealth LLC bought a new position in First Solar in the fourth quarter valued at $247,000. Forsta AP Fonden grew its position in First Solar by 43.3% in the fourth quarter. Forsta AP Fonden now owns 33,400 shares of the solar cell manufacturer’s stock valued at $8,725,000 after purchasing an additional 10,100 shares in the last quarter. Norges Bank bought a new position in First Solar in the fourth quarter valued at $392,040,000. Finally, Fort Sheridan Advisors LLC grew its position in First Solar by 0.8% in the fourth quarter. Fort Sheridan Advisors LLC now owns 6,816 shares of the solar cell manufacturer’s stock valued at $1,781,000 after purchasing an additional 57 shares in the last quarter. Institutional investors own 92.08% of the company’s stock.

Analyst Ratings Changes

FSLR has been the subject of a number of analyst reports. The Goldman Sachs Group raised their target price on shares of First Solar from $300.00 to $310.00 in a research report on Friday, May 1st. Evercore raised their target price on shares of First Solar from $212.00 to $219.00 in a research note on Monday, May 4th. Wall Street Zen cut shares of First Solar from a “buy” rating to a “hold” rating in a research note on Saturday, February 28th. Mizuho decreased their target price on shares of First Solar from $271.00 to $243.00 and set an “outperform” rating for the company in a research note on Monday, April 27th. Finally, Susquehanna decreased their target price on shares of First Solar from $280.00 to $250.00 and set a “positive” rating for the company in a research note on Thursday, April 9th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, twelve have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $247.40.

Insider Buying and Selling

In other news, CEO Mark R. Widmar sold 4,815 shares of the business’s stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $247.43, for a total value of $1,191,375.45. Following the completion of the sale, the chief executive officer owned 89,033 shares of the company’s stock, valued at approximately $22,029,435.19. The trade was a 5.13% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Caroline Stockdale sold 10,628 shares of the business’s stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $275.60, for a total transaction of $2,929,076.80. Following the completion of the sale, the insider directly owned 23,792 shares of the company’s stock, valued at approximately $6,557,075.20. The trade was a 30.88% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 76,480 shares of company stock valued at $16,668,515 in the last 90 days. 0.39% of the stock is currently owned by corporate insiders.

First Solar Trading Up 2.6%

FSLR stock opened at $311.01 on Wednesday. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.56 and a quick ratio of 2.15. The company has a fifty day moving average price of $215.51 and a two-hundred day moving average price of $231.65. First Solar, Inc. has a one year low of $135.50 and a one year high of $313.75. The stock has a market cap of $33.42 billion, a price-to-earnings ratio of 20.09, a price-to-earnings-growth ratio of 0.67 and a beta of 1.70.

First Solar (NASDAQ:FSLR) last released its quarterly earnings data on Thursday, April 30th. The solar cell manufacturer reported $3.22 EPS for the quarter, topping analysts’ consensus estimates of $2.87 by $0.35. First Solar had a net margin of 30.73% and a return on equity of 18.01%. The firm had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1.03 billion. During the same period in the previous year, the business posted $1.95 earnings per share. The company’s revenue for the quarter was up 23.6% compared to the same quarter last year. Equities analysts anticipate that First Solar, Inc. will post 17.64 EPS for the current year.

About First Solar

First Solar, Inc (NASDAQ: FSLR) is a United States–based solar technology company best known for designing and manufacturing thin‑film photovoltaic (PV) modules that use cadmium telluride (CdTe) semiconductor technology. The company supplies PV modules and delivers integrated solar power solutions for utility‑scale projects, positioning itself as a provider of both components and complete solar energy systems rather than solely a parts supplier. First Solar was founded in 1999 and is headquartered in Tempe, Arizona.

Beyond module manufacturing, First Solar offers a range of project services including development support, engineering, procurement and construction (EPC) services, and operations and maintenance (O&M) for large-scale solar installations.