Natixis Advisors LLC Grows Stock Holdings in First Solar, Inc. (NASDAQ:FSLR)

Natixis Advisors LLC boosted its holdings in First Solar, Inc. (NASDAQ:FSLR) by 3.7% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 74,803 shares of the solar cell manufacturer’s stock after buying an additional 2,686 shares during the period. Natixis Advisors LLC’s holdings in First Solar were worth $13,183,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Picton Mahoney Asset Management bought a new stake in shares of First Solar during the fourth quarter valued at approximately $4,647,000. LBP AM SA increased its holdings in First Solar by 34.3% in the 4th quarter. LBP AM SA now owns 47,013 shares of the solar cell manufacturer’s stock valued at $8,286,000 after acquiring an additional 12,012 shares during the last quarter. PGGM Investments purchased a new stake in First Solar in the 4th quarter worth $953,000. Tredje AP fonden boosted its holdings in shares of First Solar by 13.2% during the 4th quarter. Tredje AP fonden now owns 17,910 shares of the solar cell manufacturer’s stock valued at $3,156,000 after purchasing an additional 2,091 shares during the last quarter. Finally, Avantax Advisory Services Inc. grew its position in shares of First Solar by 105.5% during the fourth quarter. Avantax Advisory Services Inc. now owns 5,210 shares of the solar cell manufacturer’s stock valued at $918,000 after purchasing an additional 2,675 shares in the last quarter. 92.08% of the stock is owned by institutional investors.

Analysts Set New Price Targets

FSLR has been the topic of a number of research analyst reports. Guggenheim decreased their target price on First Solar from $335.00 to $304.00 and set a “buy” rating on the stock in a research report on Thursday, February 27th. JPMorgan Chase & Co. cut their target price 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. Truist Financial restated a “buy” rating and issued a $285.00 price target (down previously from $300.00) on shares of First Solar in a research report on Wednesday, February 26th. BMO Capital Markets reiterated an “outperform” rating and set a $230.00 price objective (down previously from $260.00) on shares of First Solar in a research report on Wednesday, February 26th. Finally, Wells Fargo & Company dropped their price target on First Solar from $240.00 to $209.00 and set an “overweight” rating for the company in a research report on Wednesday, January 8th. Four equities research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $262.08.

Insider Activity

In related news, CTO Markus Gloeckler sold 380 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 value of $50,825.00. Following the completion of the transaction, the chief technology officer now owns 17,594 shares of the company’s stock, valued at $2,353,197.50. The trade was a 2.11 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Mark R. Widmar sold 21,542 shares of the stock in a transaction on 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 sale, the chief executive officer now directly owns 103,403 shares in the company, valued at $14,589,129.27. This trade represents a 17.24 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 34,311 shares of company stock worth $4,767,158. 0.58% of the stock is currently owned by corporate insiders.

First Solar Stock Up 1.6 %

Shares of NASDAQ:FSLR opened at $129.34 on Thursday. The business’s 50 day moving average is $158.67 and its 200 day moving average is $189.31. The stock has a market cap of $13.85 billion, a P/E ratio of 11.14, a price-to-earnings-growth ratio of 0.19 and a beta of 1.52. First Solar, Inc. has a 52-week low of $124.96 and a 52-week high of $306.77. The company has a quick ratio of 1.44, a current ratio of 2.14 and a debt-to-equity ratio of 0.05.

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 analysts’ consensus estimates of $4.81 by ($1.16). The firm had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.48 billion. First Solar had a return on equity of 17.56% and a net margin of 32.41%. Sell-side analysts predict that First Solar, Inc. will post 13.05 EPS for the current year.

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.