First Solar, Inc. (NASDAQ:FSLR) Stock Position Increased by Canada Pension Plan Investment Board

Canada Pension Plan Investment Board raised its position in shares of First Solar, Inc. (NASDAQ:FSLR) by 213.7% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,476 shares of the solar cell manufacturer’s stock after purchasing an additional 3,049 shares during the period. Canada Pension Plan Investment Board’s holdings in First Solar were worth $789,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Virtu Financial LLC grew its holdings in First Solar by 38.5% in the 3rd quarter. Virtu Financial LLC now owns 8,041 shares of the solar cell manufacturer’s stock worth $2,006,000 after buying an additional 2,235 shares in the last quarter. Morse Asset Management Inc grew its stake in shares of First Solar by 10.7% in the third quarter. Morse Asset Management Inc now owns 12,449 shares of the solar cell manufacturer’s stock worth $3,105,000 after purchasing an additional 1,199 shares in the last quarter. Blankinship & Foster LLC acquired a new position in shares of First Solar during the third quarter valued at $935,000. Peapack Gladstone Financial Corp raised its stake in shares of First Solar by 33.3% during the third quarter. Peapack Gladstone Financial Corp now owns 24,553 shares of the solar cell manufacturer’s stock valued at $6,125,000 after purchasing an additional 6,135 shares in the last quarter. Finally, Franklin Resources Inc. lifted its holdings in First Solar by 10.4% in the third quarter. Franklin Resources Inc. now owns 131,634 shares of the solar cell manufacturer’s stock worth $32,835,000 after purchasing an additional 12,439 shares during the period. Institutional investors own 92.08% of the company’s stock.

First Solar Trading Up 4.1 %

Shares of NASDAQ:FSLR opened at $136.44 on Friday. The firm has a fifty day moving average of $133.88 and a two-hundred day moving average of $169.67. 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, Inc. has a 12-month low of $116.56 and a 12-month high of $306.77. The firm has a market capitalization of $14.61 billion, a P/E ratio of 11.75, a price-to-earnings-growth ratio of 0.19 and a beta of 1.48.

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

Insider Buying and Selling

In other news, insider Kuntal Kumar Verma sold 7,475 shares of the firm’s stock in a transaction on Friday, February 28th. The shares were sold at an average price of $136.60, for a total transaction of $1,021,085.00. Following the transaction, the insider now owns 3,549 shares in the company, valued at approximately $484,793.40. This trade represents a 67.81 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Mark R. Widmar sold 21,542 shares of First Solar stock in a transaction on Friday, February 28th. The shares were 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 approximately $14,589,129.27. The trade was a 17.24 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 34,311 shares of company stock worth $4,767,158. Insiders own 0.48% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Redburn Atlantic started coverage on shares of First Solar in a research report on Monday, March 3rd. They set a “neutral” rating on the stock. Piper Sandler dropped their target price on First Solar from $230.00 to $205.00 and set an “overweight” rating on the stock in a report on Monday. Royal Bank of Canada lowered their price target on First Solar from $280.00 to $251.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 26th. Morgan Stanley dropped their price objective on First Solar from $297.00 to $238.00 and set an “overweight” rating on the stock in a research note on Thursday, February 27th. Finally, Susquehanna decreased their target price on First Solar from $223.00 to $217.00 and set a “positive” rating for the company in a research note on Monday, April 14th. 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 company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $250.58.

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.