LifePro Asset Management Acquires New Stake in First Solar, Inc. (NASDAQ:FSLR)

LifePro Asset Management acquired a new stake in First Solar, Inc. (NASDAQ:FSLR) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 7,143 shares of the solar cell manufacturer’s stock, valued at approximately $1,782,000.

Other large investors also recently bought and sold shares of the company. Sumitomo Mitsui Trust Holdings Inc. increased its holdings in First Solar by 6.3% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 259,177 shares of the solar cell manufacturer’s stock worth $43,749,000 after purchasing an additional 15,430 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in shares of First Solar by 20.3% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 121,055 shares of the solar cell manufacturer’s stock worth $20,434,000 after acquiring an additional 20,465 shares in the last quarter. Legend Financial Advisors Inc. acquired a new position in shares of First Solar during the 1st quarter worth about $759,000. Burford Brothers Inc. acquired a new position in shares of First Solar during the 4th quarter worth about $3,539,000. Finally, Vanguard Group Inc. boosted its position in shares of First Solar by 0.9% during the 1st quarter. Vanguard Group Inc. now owns 12,257,053 shares of the solar cell manufacturer’s stock worth $2,068,991,000 after acquiring an additional 105,236 shares in the last quarter. Hedge funds and other institutional investors own 92.08% of the company’s stock.

Insider Activity at First Solar

In related news, CAO Byron Michael Jeffers sold 500 shares of First Solar stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $220.00, for a total transaction of $110,000.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, CAO Byron Michael Jeffers sold 500 shares of First Solar stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $220.00, for a total value of $110,000.00. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Patrick James Buehler sold 8,619 shares of First Solar stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $222.00, for a total value of $1,913,418.00. Following the completion of the transaction, the insider now directly owns 3,468 shares in the company, valued at $769,896. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 10,885 shares of company stock worth $2,405,757 over the last ninety days. 0.58% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. BMO Capital Markets lowered their price objective on First Solar from $311.00 to $286.00 and set an “outperform” rating for the company in a research report on Wednesday, July 31st. Piper Sandler upped their target price on First Solar from $219.00 to $250.00 and gave the company an “overweight” rating in a research report on Monday, July 22nd. William Blair began coverage on First Solar in a research report on Thursday, August 29th. They issued a “market perform” rating for the company. Clarkson Capital began coverage on First Solar in a research report on Wednesday, August 14th. They issued a “buy” rating and a $270.00 target price for the company. Finally, DZ Bank raised First Solar from a “hold” rating to a “buy” rating and set a $280.00 target price for the company in a research report on Thursday, August 1st. Four equities research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $285.44.

First Solar Stock Performance

FSLR stock opened at $205.04 on Friday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.65 and a current ratio of 2.23. The stock has a market capitalization of $21.95 billion, a price-to-earnings ratio of 18.31, a PEG ratio of 0.38 and a beta of 1.44. First Solar, Inc. has a 1 year low of $129.21 and a 1 year high of $306.77. The stock’s fifty day moving average is $227.59 and its two-hundred day moving average is $220.72.

First Solar (NASDAQ:FSLR) last issued its quarterly earnings data on Tuesday, July 30th. The solar cell manufacturer reported $3.25 earnings per share for the quarter, beating analysts’ consensus estimates of $2.69 by $0.56. First Solar had a net margin of 31.98% and a return on equity of 17.73%. The business had revenue of $1.01 billion for the quarter, compared to analysts’ expectations of $939.71 million. During the same period in the previous year, the business earned $1.85 earnings per share. The company’s revenue was up 24.6% on a year-over-year basis. On average, research analysts predict that First Solar, Inc. will post 13.53 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.