Mitsubishi UFJ Asset Management Co. Ltd. Buys 13,761 Shares of First Solar, Inc. (NASDAQ:FSLR)

Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in First Solar, Inc. (NASDAQ:FSLR) by 9.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 160,723 shares of the solar cell manufacturer’s stock after purchasing an additional 13,761 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned about 0.15% of First Solar worth $29,964,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Smartleaf Asset Management LLC lifted its holdings in shares of First Solar by 31.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 262 shares of the solar cell manufacturer’s stock worth $47,000 after purchasing an additional 63 shares in the last quarter. Crews Bank & Trust acquired a new position in shares of First Solar during the fourth quarter valued at about $53,000. Hudson Edge Investment Partners Inc. bought a new stake in shares of First Solar during the fourth quarter worth about $53,000. CoreFirst Bank & Trust acquired a new stake in shares of First Solar in the 4th quarter worth about $54,000. Finally, Financial Avengers Inc. bought a new position in First Solar in the 3rd quarter valued at about $77,000. Institutional investors and hedge funds own 92.08% of the company’s stock.

Insider Activity

In related news, CFO Alexander R. Bradley sold 599 shares of the business’s stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $133.75, for a total transaction of $80,116.25. Following the completion of the transaction, the chief financial officer now owns 45,717 shares of the company’s stock, valued at approximately $6,114,648.75. The trade was a 1.29 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Georges Antoun sold 229 shares of the stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $133.75, for a total transaction of $30,628.75. Following the completion of the sale, the insider now owns 52,836 shares in the company, valued at $7,066,815. This represents a 0.43 % 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 worth $4,767,158 over the last ninety days. Company insiders own 0.58% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently commented on FSLR shares. Redburn Atlantic started coverage on First Solar in a research note on Monday, March 3rd. They issued a “neutral” rating for the company. Royal Bank of Canada lowered their price target on First Solar from $280.00 to $251.00 and set an “outperform” rating for the company in a research report on Wednesday, February 26th. JPMorgan Chase & Co. cut their price objective on shares of First Solar from $282.00 to $268.00 and set an “overweight” rating on the stock in a report on Wednesday, February 26th. UBS Group lowered their target price on shares of First Solar from $360.00 to $285.00 and set a “buy” rating for the company in a report on Wednesday, February 26th. Finally, StockNews.com raised shares of First Solar from a “sell” rating to a “hold” rating in a research report on Thursday, January 2nd. Four equities research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $262.08.

First Solar Stock Performance

Shares of FSLR stock opened at $127.32 on Monday. First Solar, Inc. has a 12 month low of $124.32 and a 12 month high of $306.77. The stock has a market capitalization of $13.63 billion, a P/E ratio of 10.97, a PEG ratio of 0.19 and a beta of 1.52. The company has a current ratio of 2.14, a quick ratio of 1.44 and a debt-to-equity ratio of 0.05. The firm’s 50 day moving average is $150.28 and its 200 day moving average is $184.79.

First Solar (NASDAQ:FSLR) last posted its quarterly earnings results 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 during 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 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.