Vanguard Group Inc. Has $2.26 Billion Stake in First Solar, Inc. (NASDAQ:FSLR)

Vanguard Group Inc. increased its holdings in shares of First Solar, Inc. (NASDAQ:FSLR) by 0.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,821,701 shares of the solar cell manufacturer’s stock after purchasing an additional 120,289 shares during the period. Vanguard Group Inc. owned approximately 11.98% of First Solar worth $2,259,697,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of FSLR. Whalen Wealth Management Inc. lifted its stake in First Solar by 47.0% in the fourth quarter. Whalen Wealth Management Inc. now owns 4,859 shares of the solar cell manufacturer’s stock valued at $856,000 after buying an additional 1,554 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its position in First Solar by 665.8% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 39,192 shares of the solar cell manufacturer’s stock valued at $7,308,000 after acquiring an additional 34,074 shares in the last quarter. Stifel Financial Corp boosted its stake in First Solar by 36.9% in the 3rd quarter. Stifel Financial Corp now owns 21,446 shares of the solar cell manufacturer’s stock worth $5,350,000 after purchasing an additional 5,780 shares during the period. Paragon Capital Management Inc. acquired a new stake in shares of First Solar in the 4th quarter valued at about $1,240,000. Finally, Robeco Institutional Asset Management B.V. lifted its holdings in shares of First Solar by 9.0% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 595,267 shares of the solar cell manufacturer’s stock valued at $104,910,000 after purchasing an additional 49,074 shares in the last quarter. 92.08% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. UBS Group decreased their price target on shares of First Solar from $360.00 to $285.00 and set a “buy” rating for the company in a research note on Wednesday, February 26th. Morgan Stanley dropped their target price on First Solar from $297.00 to $238.00 and set an “overweight” rating on the stock in a report on Thursday, February 27th. Piper Sandler decreased their price target on First Solar from $250.00 to $230.00 and set an “overweight” rating for the company in a research note on Wednesday, February 26th. Truist Financial reissued a “buy” rating and issued a $285.00 price objective (down previously from $300.00) on shares of First Solar in a report on Wednesday, February 26th. Finally, Deutsche Bank Aktiengesellschaft set a $265.00 target price on shares of First Solar in a report on Thursday, February 27th. Four equities research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $262.08.

First Solar Stock Performance

Shares of NASDAQ:FSLR opened at $126.34 on Thursday. 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 12-month low of $124.53 and a 12-month high of $306.77. The company’s 50 day moving average price is $152.88 and its two-hundred day moving average price is $186.29. The firm has a market cap of $13.53 billion, a PE ratio of 10.88, a PEG ratio of 0.19 and a beta of 1.52.

First Solar (NASDAQ:FSLR) last posted its quarterly earnings data on Tuesday, February 25th. The solar cell manufacturer reported $3.65 EPS 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 for the quarter, compared to the consensus estimate of $1.48 billion. Equities research analysts predict that First Solar, Inc. will post 13.05 earnings per share for the current year.

Insider Buying and Selling at First Solar

In other news, insider Kuntal Kumar Verma sold 419 shares of First Solar stock in a transaction on Friday, March 7th. The stock was sold at an average price of $132.96, for a total value of $55,710.24. Following the transaction, the insider now owns 4,695 shares in the company, valued at approximately $624,247.20. This trade represents a 8.19 % decrease in their position. The sale 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 the company’s stock in a transaction on Friday, February 28th. The stock was sold at an average price of $141.09, for a total value 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 34,311 shares of company stock valued at $4,767,158 in the last ninety days. 0.58% of the stock is currently owned by company insiders.

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.