CoreFirst Bank & Trust Takes $54,000 Position in First Solar, Inc. (NASDAQ:FSLR)

CoreFirst Bank & Trust acquired a new position in shares of First Solar, Inc. (NASDAQ:FSLR) in the 4th quarter, Holdings Channel reports. The fund acquired 305 shares of the solar cell manufacturer’s stock, valued at approximately $54,000.

Several other hedge funds have also recently added to or reduced their stakes in FSLR. Vanguard Group Inc. lifted its holdings in shares of First Solar by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 12,821,701 shares of the solar cell manufacturer’s stock worth $2,259,697,000 after buying an additional 120,289 shares during the last quarter. State Street Corp increased its position in First Solar by 2.2% during the third quarter. State Street Corp now owns 4,956,633 shares of the solar cell manufacturer’s stock worth $1,236,383,000 after acquiring an additional 108,984 shares during the period. Geode Capital Management LLC raised its stake in First Solar by 0.9% during the 3rd quarter. Geode Capital Management LLC now owns 2,602,503 shares of the solar cell manufacturer’s stock valued at $647,440,000 after purchasing an additional 24,143 shares during the last quarter. Wellington Management Group LLP boosted its holdings in First Solar by 75.8% in 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 purchasing an additional 904,498 shares during the period. Finally, Amundi grew its position in First Solar by 31.0% in the 4th quarter. Amundi now owns 1,805,244 shares of the solar cell manufacturer’s stock worth $336,871,000 after purchasing an additional 426,797 shares during the last quarter. Institutional investors own 92.08% of the company’s stock.

Insider Buying and Selling at First Solar

In other First Solar news, insider Kuntal Kumar Verma sold 7,475 shares of the company’s stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $136.60, for a total transaction of $1,021,085.00. Following the transaction, the insider now directly owns 3,549 shares in the company, valued at approximately $484,793.40. This represents a 67.81 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Mark R. Widmar sold 21,542 shares of First Solar stock in a transaction that occurred on 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 sale, the chief executive officer now owns 103,403 shares of the company’s stock, valued at approximately $14,589,129.27. This represents a 17.24 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 34,311 shares of company stock worth $4,767,158. Insiders own 0.58% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. Bank of America cut their price objective on shares of First Solar from $246.00 to $236.00 and set a “buy” rating for the company in a research report on Tuesday, January 28th. Roth Mkm reaffirmed a “buy” rating and issued a $280.00 price target on shares of First Solar in a report on Wednesday, February 26th. BMO Capital Markets reissued an “outperform” rating and set a $230.00 price objective (down previously from $260.00) on shares of First Solar in a report on Wednesday, February 26th. Royal Bank of Canada lowered their price objective on First Solar from $280.00 to $251.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 26th. Finally, Piper Sandler reduced their target price on First Solar from $250.00 to $230.00 and set an “overweight” rating for the company in a research report on Wednesday, February 26th. Four research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, First Solar has an average rating of “Moderate Buy” and a consensus price target of $262.08.

First Solar Stock Performance

First Solar stock opened at $131.46 on Wednesday. First Solar, Inc. has a 12-month low of $124.96 and a 12-month high of $306.77. The stock has a 50-day simple moving average of $154.08 and a 200 day simple moving average of $186.71. The company has a quick ratio of 1.44, a current ratio of 2.14 and a debt-to-equity ratio of 0.05. The stock has a market capitalization of $14.07 billion, a price-to-earnings ratio of 11.32, a P/E/G ratio of 0.19 and a beta of 1.52.

First Solar (NASDAQ:FSLR) last announced its earnings results 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 return on equity of 17.56% and a net margin of 32.41%. The company had revenue of $1.51 billion during the quarter, compared to the consensus estimate of $1.48 billion. On average, research analysts anticipate that First Solar, Inc. will post 13.05 earnings per share for the current fiscal 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.