Nvwm LLC Buys 6,104 Shares of First Solar, Inc. (NASDAQ:FSLR)

Nvwm LLC grew its stake in shares of First Solar, Inc. (NASDAQ:FSLR) by 122,080.0% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 6,109 shares of the solar cell manufacturer’s stock after buying an additional 6,104 shares during the quarter. Nvwm LLC’s holdings in First Solar were worth $1,524,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. Western Financial Corp CA bought a new position in First Solar in the third quarter valued at about $1,209,000. Sumitomo Mitsui Trust Holdings Inc. boosted its position 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 buying an additional 15,430 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in 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 during the last quarter. Harbour Capital Advisors LLC increased its position in First Solar by 224.0% in the 3rd quarter. Harbour Capital Advisors LLC now owns 5,217 shares of the solar cell manufacturer’s stock valued at $1,301,000 after acquiring an additional 3,607 shares during the period. Finally, Vanguard Group Inc. raised its stake in shares of First Solar by 0.9% during the first quarter. Vanguard Group Inc. now owns 12,257,053 shares of the solar cell manufacturer’s stock valued at $2,068,991,000 after acquiring an additional 105,236 shares during the last quarter. 92.08% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages recently issued reports on FSLR. Wells Fargo & Company lowered their target price on First Solar from $250.00 to $240.00 and set an “overweight” rating for the company in a research report on Wednesday. Piper Sandler cut their price objective on First Solar from $250.00 to $245.00 and set an “overweight” rating on the stock in a research note on Wednesday. Oppenheimer upped their target price on First Solar from $325.00 to $326.00 and gave the company an “outperform” rating in a report on Wednesday, July 31st. Jefferies Financial Group dropped their price target on shares of First Solar from $271.00 to $266.00 and set a “buy” rating on the stock in a research report on Thursday, October 10th. Finally, Citigroup upgraded shares of First Solar from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $200.00 to $254.00 in a research report on Tuesday, October 22nd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, First Solar currently has an average rating of “Moderate Buy” and a consensus target price of $281.13.

Insider Buying and Selling at First Solar

In other news, insider Patrick James Buehler sold 8,619 shares of the firm’s stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $222.00, for a total transaction of $1,913,418.00. Following the completion of the sale, the insider now owns 3,468 shares in the company, valued at $769,896. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, insider Patrick James Buehler sold 8,619 shares of the stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $222.00, for a total transaction of $1,913,418.00. Following the completion of the transaction, the insider now owns 3,468 shares in the company, valued at approximately $769,896. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 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 three months. 0.58% of the stock is currently owned by insiders.

First Solar Stock Performance

Shares of FSLR stock traded up $10.46 during trading on Friday, hitting $204.94. The company’s stock had a trading volume of 2,838,776 shares, compared to its average volume of 2,925,794. The company has a current ratio of 2.14, a quick ratio of 1.65 and a debt-to-equity ratio of 0.05. The company has a market cap of $21.94 billion, a PE ratio of 17.65, a P/E/G ratio of 0.34 and a beta of 1.48. The business has a fifty day moving average of $221.68 and a 200-day moving average of $223.93. First Solar, Inc. has a 52 week low of $129.21 and a 52 week high of $306.77.

First Solar (NASDAQ:FSLR) last announced its quarterly earnings data on Tuesday, October 29th. The solar cell manufacturer reported $2.91 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.10 by ($0.19). The business had revenue of $887.70 million during the quarter, compared to the consensus estimate of $1.07 billion. First Solar had a net margin of 32.41% and a return on equity of 17.56%. The firm’s revenue for the quarter was up 10.7% compared to the same quarter last year. During the same quarter last year, the company earned $2.50 EPS. As a group, research analysts anticipate that First Solar, Inc. will post 13.12 earnings per share for the current year.

First Solar Company 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.