Cozad Asset Management Inc. Increases Stock Position in First Solar, Inc. (NASDAQ:FSLR)

Cozad Asset Management Inc. grew its stake in shares of First Solar, Inc. (NASDAQ:FSLR) by 8.4% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,930 shares of the solar cell manufacturer’s stock after buying an additional 150 shares during the period. Cozad Asset Management Inc.’s holdings in First Solar were worth $340,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in FSLR. Wellington Management Group LLP grew its stake in shares of First Solar by 75.8% during the 3rd quarter. Wellington Management Group LLP now owns 2,097,364 shares of the solar cell manufacturer’s stock valued at $523,166,000 after buying an additional 904,498 shares during the period. Amundi grew its stake in shares of First Solar by 31.0% during the 4th quarter. Amundi now owns 1,805,244 shares of the solar cell manufacturer’s stock valued at $336,871,000 after buying an additional 426,797 shares during the period. Merewether Investment Management LP grew its stake in shares of First Solar by 993.4% during the 3rd quarter. Merewether Investment Management LP now owns 322,936 shares of the solar cell manufacturer’s stock valued at $80,553,000 after buying an additional 293,400 shares during the period. Erste Asset Management GmbH acquired a new position in shares of First Solar during the 3rd quarter valued at $67,652,000. Finally, Handelsbanken Fonder AB lifted its holdings in shares of First Solar by 110.4% during the 4th quarter. Handelsbanken Fonder AB now owns 375,010 shares of the solar cell manufacturer’s stock valued at $66,092,000 after acquiring an additional 196,744 shares in the last quarter. 92.08% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other First Solar news, insider Kuntal Kumar Verma sold 419 shares of the company’s stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $132.96, for a total value of $55,710.24. Following the completion of the transaction, the insider now owns 4,695 shares in the company, valued at approximately $624,247.20. This represents a 8.19 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Mark R. Widmar sold 21,542 shares of the company’s stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $141.09, for a total transaction of $3,039,360.78. Following the completion of the transaction, the chief executive officer now owns 103,403 shares of the company’s stock, valued at approximately $14,589,129.27. This trade represents a 17.24 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 34,311 shares of company stock worth $4,767,158. Insiders own 0.58% of the company’s stock.

First Solar Price Performance

Shares of NASDAQ:FSLR opened at $127.34 on Wednesday. The company has a quick ratio of 1.44, a current ratio of 2.14 and a debt-to-equity ratio of 0.05. First Solar, Inc. has a fifty-two week low of $124.96 and a fifty-two week high of $306.77. The firm has a 50-day simple moving average of $159.91 and a 200 day simple moving average of $189.73. The company has a market cap of $13.63 billion, a PE ratio of 10.97, a P/E/G ratio of 0.19 and a beta of 1.52.

First Solar (NASDAQ:FSLR) last announced its quarterly earnings data on Tuesday, February 25th. The solar cell manufacturer reported $3.65 earnings per share for the quarter, missing analysts’ consensus estimates of $4.81 by ($1.16). First Solar had a net margin of 32.41% and a return on equity of 17.56%. The business had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.48 billion. On average, sell-side analysts anticipate that First Solar, Inc. will post 13.05 EPS for the current year.

Analysts Set New Price Targets

Several research firms recently weighed in on FSLR. Redburn Atlantic began coverage on shares of First Solar in a report on Monday, March 3rd. They set a “neutral” rating on the stock. Bank of America reduced their target price on shares of First Solar from $246.00 to $236.00 and set a “buy” rating on the stock in a report on Tuesday, January 28th. Barclays reduced their target price on shares of First Solar from $273.00 to $236.00 and set an “overweight” rating on the stock in a report on Friday, February 28th. Roth Mkm reiterated a “buy” rating and issued a $280.00 price objective on shares of First Solar in a report on Wednesday, February 26th. Finally, Wells Fargo & Company cut their price objective on shares of First Solar from $240.00 to $209.00 and set an “overweight” rating on the stock in a report on Wednesday, January 8th. Four equities research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, First Solar presently has a consensus rating of “Moderate Buy” and an average target price of $262.08.

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.