First Solar, Inc. $FSLR Shares Acquired by Rockefeller Capital Management L.P.

Rockefeller Capital Management L.P. increased its position in First Solar, Inc. (NASDAQ:FSLR) by 79.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 41,723 shares of the solar cell manufacturer’s stock after purchasing an additional 18,537 shares during the quarter. Rockefeller Capital Management L.P.’s holdings in First Solar were worth $10,899,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Green Ridge Wealth Planning LLC acquired a new position in First Solar in the 4th quarter worth $234,000. Mengis Capital Management Inc. boosted its position in First Solar by 26.1% in the 4th quarter. Mengis Capital Management Inc. now owns 7,243 shares of the solar cell manufacturer’s stock valued at $1,892,000 after buying an additional 1,500 shares during the last quarter. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in shares of First Solar during the fourth quarter valued at about $2,952,000. Employees Provident Fund Board acquired a new stake in shares of First Solar during the fourth quarter valued at about $25,531,000. Finally, Caitong International Asset Management Co. Ltd purchased a new stake in shares of First Solar during the fourth quarter worth about $107,000. 92.08% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. JPMorgan Chase & Co. cut their price target on First Solar from $303.00 to $256.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 25th. BMO Capital Markets lowered their price objective on First Solar from $252.00 to $237.00 and set a “market perform” rating for the company in a research note on Monday, April 20th. Robert W. Baird restated a “neutral” rating and set a $205.00 price objective (down from $264.00) on shares of First Solar in a report on Wednesday, February 25th. Evercore upped their target price on First Solar from $212.00 to $219.00 in a research report on Monday, May 4th. Finally, TD Cowen reduced their target price on First Solar from $320.00 to $253.00 and set a “buy” rating for the company in a research note on Wednesday, February 25th. One analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, twelve have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $249.78.

Insider Activity at First Solar

In related news, insider Kuntal Kumar Verma sold 582 shares of the company’s stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $250.00, for a total transaction of $145,500.00. Following the sale, the insider directly owned 4,967 shares of the company’s stock, valued at approximately $1,241,750. This represents a 10.49% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Mark R. Widmar sold 9,926 shares of the company’s stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $233.21, for a total value of $2,314,842.46. Following the sale, the chief executive officer directly owned 95,148 shares in the company, valued at approximately $22,189,465.08. This represents a 9.45% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 32,466 shares of company stock worth $8,014,105 over the last quarter. 0.39% of the stock is owned by corporate insiders.

First Solar Stock Performance

Shares of First Solar stock opened at $248.42 on Thursday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.15 and a current ratio of 2.56. First Solar, Inc. has a 1 year low of $147.30 and a 1 year high of $320.95. The firm’s 50-day simple moving average is $241.72 and its 200-day simple moving average is $233.13. The firm has a market cap of $26.69 billion, a PE ratio of 16.05, a price-to-earnings-growth ratio of 0.55 and a beta of 1.71.

First Solar (NASDAQ:FSLR) last posted its quarterly earnings results 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. The business had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.03 billion. First Solar had a return on equity of 18.01% and a net margin of 30.73%.The company’s revenue for the quarter was up 23.6% compared to the same quarter last year. During the same period last year, the firm earned $1.95 earnings per share. Equities analysts forecast that First Solar, Inc. will post 17.61 earnings per share for the current fiscal 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.