Sava Infond d.o.o. Invests $335,000 in First Solar, Inc. (NASDAQ:FSLR)

Sava Infond d.o.o. acquired a new stake in First Solar, Inc. (NASDAQ:FSLR) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,900 shares of the solar cell manufacturer’s stock, valued at approximately $335,000.

Other hedge funds also recently made changes to their positions in the company. Larson Financial Group LLC grew its holdings in First Solar by 214.0% during the 3rd quarter. Larson Financial Group LLC now owns 157 shares of the solar cell manufacturer’s stock worth $39,000 after acquiring an additional 107 shares during the period. Smartleaf Asset Management LLC increased its holdings 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 worth $47,000 after purchasing an additional 63 shares in the last quarter. Crews Bank & Trust acquired a new position in First Solar in the fourth quarter valued at approximately $53,000. Hudson Edge Investment Partners Inc. acquired a new stake in shares of First Solar during the 4th quarter worth approximately $53,000. Finally, CoreFirst Bank & Trust acquired a new position in shares of First Solar during the 4th quarter valued at $54,000. 92.08% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Wells Fargo & Company dropped their price objective on shares of First Solar from $240.00 to $209.00 and set an “overweight” rating on the stock in a report on Wednesday, January 8th. JPMorgan Chase & Co. dropped their price target on First Solar from $282.00 to $268.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 26th. Robert W. Baird decreased their price objective on First Solar from $307.00 to $267.00 and set an “outperform” rating for the company in a report on Wednesday, December 18th. Barclays lowered their target price on First Solar from $273.00 to $236.00 and set an “overweight” rating on the stock in a research report on Friday, February 28th. Finally, Royal Bank of Canada decreased their price target on shares of First Solar from $280.00 to $251.00 and set an “outperform” rating for the company in a research note on Wednesday, February 26th. Four research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $262.08.

Insiders Place Their Bets

In related news, CEO Mark R. Widmar sold 1,966 shares of the business’s stock in a transaction on Monday, March 17th. The stock was sold at an average price of $133.75, for a total transaction of $262,952.50. Following the sale, the chief executive officer now directly owns 111,890 shares in the company, valued at approximately $14,965,287.50. The trade was a 1.73 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Alexander R. Bradley sold 599 shares of the firm’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 $6,114,648.75. This trade represents a 1.29 % 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 90 days. Corporate insiders own 0.58% of the company’s stock.

First Solar Trading Up 0.2 %

Shares of First Solar stock opened at $126.60 on Friday. The stock has a market capitalization of $13.55 billion, a P/E ratio of 10.90, a P/E/G 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. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.44 and a current ratio of 2.14. The stock’s 50-day simple moving average is $151.59 and its 200 day simple moving average is $185.87.

First Solar (NASDAQ:FSLR) last posted its quarterly earnings results on Tuesday, February 25th. The solar cell manufacturer reported $3.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.81 by ($1.16). The business had revenue of $1.51 billion during the quarter, compared to the consensus estimate of $1.48 billion. First Solar had a net margin of 32.41% and a return on equity of 17.56%. As a group, research analysts anticipate that First Solar, Inc. will post 13.05 EPS for the current year.

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.