Kayne Anderson Capital Advisors LP Boosts Position in First Solar, Inc. (NASDAQ:FSLR)

Kayne Anderson Capital Advisors LP grew its holdings in shares of First Solar, Inc. (NASDAQ:FSLR) by 77.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 49,602 shares of the solar cell manufacturer’s stock after buying an additional 21,601 shares during the quarter. Kayne Anderson Capital Advisors LP’s holdings in First Solar were worth $8,742,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Clear Harbor Asset Management LLC boosted its position in shares of First Solar by 0.6% in the fourth quarter. Clear Harbor Asset Management LLC now owns 9,210 shares of the solar cell manufacturer’s stock worth $1,623,000 after buying an additional 55 shares during the period. Doliver Advisors LP grew its position in First Solar by 1.2% in the fourth quarter. Doliver Advisors LP now owns 4,713 shares of the solar cell manufacturer’s stock valued at $831,000 after acquiring an additional 56 shares in the last quarter. Smartleaf Asset Management LLC grew its position in First Solar by 31.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 262 shares of the solar cell manufacturer’s stock valued at $47,000 after acquiring an additional 63 shares in the last quarter. Independent Advisor Alliance lifted its position in shares of First Solar by 3.1% during the fourth quarter. Independent Advisor Alliance now owns 2,090 shares of the solar cell manufacturer’s stock worth $368,000 after purchasing an additional 63 shares in the last quarter. Finally, Sigma Planning Corp boosted its stake in shares of First Solar by 4.8% in the third quarter. Sigma Planning Corp now owns 1,450 shares of the solar cell manufacturer’s stock valued at $362,000 after purchasing an additional 67 shares during the period. Institutional investors and hedge funds own 92.08% of the company’s stock.

Analyst Upgrades and Downgrades

FSLR has been the subject of a number of research reports. Truist Financial reiterated a “buy” rating and issued a $285.00 price target (down from $300.00) on shares of First Solar in a research note on Wednesday, February 26th. BMO Capital Markets reiterated an “outperform” rating and issued a $230.00 price target (down from $260.00) on shares of First Solar in a report on Wednesday, February 26th. Bank of America reduced their price objective on First Solar from $246.00 to $236.00 and set a “buy” rating on the stock in a research note on Tuesday, January 28th. JPMorgan Chase & Co. decreased their price objective on shares of First Solar from $282.00 to $268.00 and set an “overweight” rating for the company in a report on Wednesday, February 26th. Finally, Robert W. Baird dropped their target price on shares of First Solar from $307.00 to $267.00 and set an “outperform” rating on the stock in a report on Wednesday, December 18th. Four investment analysts have rated the stock with a hold rating, twenty-three have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $262.08.

Insider Transactions at First Solar

In other news, CEO Mark R. Widmar sold 21,542 shares of the firm’s stock in a transaction dated 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 completion of the sale, the chief executive officer now directly owns 103,403 shares of the company’s stock, valued at $14,589,129.27. This trade represents a 17.24 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Kuntal Kumar Verma sold 419 shares of the business’s stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $132.96, for a total value of $55,710.24. Following the completion of the sale, the insider now directly owns 4,695 shares of the company’s stock, valued at approximately $624,247.20. The trade was a 8.19 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 30,739 shares of company stock valued at $4,289,403 over the last ninety days. Corporate insiders own 0.58% of the company’s stock.

First Solar Stock Up 4.5 %

FSLR opened at $139.10 on Wednesday. The stock’s fifty day moving average is $165.43 and its 200-day moving average is $193.16. First Solar, Inc. has a one year low of $124.96 and a one year high of $306.77. The company has a market capitalization of $14.89 billion, a PE ratio of 11.98, a P/E/G ratio of 0.19 and a beta of 1.52. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.44 and a current ratio of 2.14.

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