Atika Capital Management LLC Grows Position in First Solar, Inc. (NASDAQ:FSLR)

Atika Capital Management LLC increased its position in First Solar, Inc. (NASDAQ:FSLR) by 6.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 25,100 shares of the solar cell manufacturer’s stock after buying an additional 1,600 shares during the quarter. Atika Capital Management LLC’s holdings in First Solar were worth $4,424,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in FSLR. Norges Bank bought a new position in shares of First Solar during the fourth quarter valued at approximately $317,399,000. Wellington Management Group LLP lifted its stake in shares of First Solar by 75.8% in the 3rd quarter. Wellington Management Group LLP now owns 2,097,364 shares of the solar cell manufacturer’s stock valued at $523,166,000 after purchasing an additional 904,498 shares during the period. Mirova US LLC boosted its position in shares of First Solar by 961.0% during the fourth quarter. Mirova US LLC now owns 646,310 shares of the solar cell manufacturer’s stock valued at $113,906,000 after purchasing an additional 585,394 shares in the last quarter. Amundi grew its stake in First Solar by 31.0% in the fourth quarter. Amundi now owns 1,805,244 shares of the solar cell manufacturer’s stock worth $336,871,000 after purchasing an additional 426,797 shares during the period. Finally, Handelsbanken Fonder AB lifted its position in First Solar by 110.4% during the fourth quarter. Handelsbanken Fonder AB now owns 375,010 shares of the solar cell manufacturer’s stock valued at $66,092,000 after buying an additional 196,744 shares during the period. Hedge funds and other institutional investors own 92.08% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on FSLR. Bank of America reduced their target price on shares of First Solar from $246.00 to $236.00 and set a “buy” rating on the stock in a research report on Tuesday, January 28th. Citigroup decreased their target price on shares of First Solar from $254.00 to $236.00 and set a “neutral” rating for the company in a research note on Wednesday, February 26th. Truist Financial reissued a “buy” rating and issued a $245.00 price target (down from $285.00) on shares of First Solar in a research report on Wednesday. Redburn Atlantic started coverage on First Solar in a research report on Monday, March 3rd. They set a “neutral” rating for the company. Finally, Deutsche Bank Aktiengesellschaft set a $265.00 target price on First Solar in a report on Thursday, February 27th. Four research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $260.42.

First Solar Stock Down 5.5 %

First Solar stock opened at $128.69 on Friday. The stock has a market cap of $13.78 billion, a PE ratio of 11.08, a price-to-earnings-growth 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. The stock has a fifty day moving average of $145.44 and a 200 day moving average of $181.47. First Solar, Inc. has a one year low of $120.60 and a one year high of $306.77.

First Solar (NASDAQ:FSLR) last issued its quarterly earnings data on Tuesday, February 25th. The solar cell manufacturer reported $3.65 earnings per share 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 return on equity of 17.56% and a net margin of 32.41%. As a group, sell-side analysts predict that First Solar, Inc. will post 13.05 EPS for the current year.

Insider Transactions at First Solar

In other news, insider Kuntal Kumar Verma sold 7,475 shares of the firm’s stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $136.60, for a total value of $1,021,085.00. Following the transaction, the insider now owns 3,549 shares of the company’s stock, valued at $484,793.40. This trade represents a 67.81 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Georges Antoun sold 229 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 $30,628.75. Following the transaction, the insider now owns 52,836 shares of the company’s stock, valued at approximately $7,066,815. This trade represents a 0.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 34,311 shares of company stock worth $4,767,158 in the last 90 days. 0.58% of the stock is currently owned by insiders.

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.