Family Legacy Inc. Grows Position in First Solar, Inc. (NASDAQ:FSLR)

Family Legacy Inc. grew its position in First Solar, Inc. (NASDAQ:FSLR) by 7.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,806 shares of the solar cell manufacturer’s stock after acquiring an additional 385 shares during the quarter. Family Legacy Inc.’s holdings in First Solar were worth $1,110,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of FSLR. Vanguard Group Inc. raised its stake in 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 valued at $2,259,697,000 after purchasing an additional 120,289 shares in the last quarter. State Street Corp increased its holdings in shares of First Solar by 2.2% in the 3rd quarter. State Street Corp now owns 4,956,633 shares of the solar cell manufacturer’s stock worth $1,236,383,000 after buying an additional 108,984 shares during the last quarter. Geode Capital Management LLC raised its position in shares of 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 buying an additional 24,143 shares in the last quarter. Wellington Management Group LLP grew its position in First Solar by 12.5% in the fourth quarter. Wellington Management Group LLP now owns 2,359,846 shares of the solar cell manufacturer’s stock worth $415,899,000 after acquiring an additional 262,482 shares in the last quarter. Finally, Amundi increased its stake in First Solar by 31.0% during the fourth quarter. Amundi now owns 1,805,244 shares of the solar cell manufacturer’s stock worth $336,871,000 after acquiring an additional 426,797 shares during the last quarter. 92.08% of the stock is owned by hedge funds and other institutional investors.

First Solar Stock Up 0.6 %

Shares of FSLR opened at $127.32 on Monday. The stock’s 50-day moving average price is $150.28 and its 200-day moving average price is $184.79. 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 company has a market capitalization of $13.63 billion, a price-to-earnings ratio of 10.97, a PEG ratio of 0.19 and a beta of 1.52. First Solar, Inc. has a 52 week low of $124.32 and a 52 week high of $306.77.

First Solar (NASDAQ:FSLR) last issued 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). The firm had revenue of $1.51 billion during the quarter, compared to analyst estimates of $1.48 billion. First Solar had a return on equity of 17.56% and a net margin of 32.41%. On average, sell-side analysts predict that First Solar, Inc. will post 13.05 EPS for the current year.

Insider Buying and Selling

In related news, insider Kuntal Kumar Verma sold 7,475 shares of the stock in a transaction that occurred on 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 completion of the transaction, the insider now owns 3,549 shares of the company’s stock, valued at approximately $484,793.40. This trade 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 the firm’s stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $141.09, for a total value of $3,039,360.78. Following the transaction, the chief executive officer now owns 103,403 shares of the company’s stock, valued at $14,589,129.27. This trade represents a 17.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 34,311 shares of company stock worth $4,767,158. Insiders own 0.58% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Guggenheim cut their price target on shares of First Solar from $335.00 to $304.00 and set a “buy” rating on the stock in a report on Thursday, February 27th. Wells Fargo & Company reduced their price target on First Solar from $240.00 to $209.00 and set an “overweight” rating on the stock in a report on Wednesday, January 8th. Redburn Atlantic started coverage on First Solar in a report on Monday, March 3rd. They set a “neutral” rating for the company. UBS Group cut their price objective on First Solar from $360.00 to $285.00 and set a “buy” rating on the stock in a research report on Wednesday, February 26th. Finally, Morgan Stanley decreased their target price on First Solar from $297.00 to $238.00 and set an “overweight” rating for the company in a research report on Thursday, February 27th. Four analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $262.08.

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.