Price T Rowe Associates Inc. MD Purchases 229,028 Shares of First Solar, Inc. (NASDAQ:FSLR)

Price T Rowe Associates Inc. MD increased its holdings in shares of First Solar, Inc. (NASDAQ:FSLR) by 101.5% in the fourth quarter, HoldingsChannel reports. The firm owned 454,709 shares of the solar cell manufacturer’s stock after buying an additional 229,028 shares during the period. Price T Rowe Associates Inc. MD’s holdings in First Solar were worth $80,139,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of FSLR. Smartleaf Asset Management LLC boosted its position in First Solar by 31.7% during 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 during the period. Crews Bank & Trust bought a new stake in shares of First Solar during the 4th quarter worth about $53,000. Hudson Edge Investment Partners Inc. acquired a new position in First Solar in the 4th quarter valued at about $53,000. CoreFirst Bank & Trust bought a new position in First Solar in the 4th quarter valued at about $54,000. Finally, Montag A & Associates Inc. lifted its position in First Solar by 18.8% during the fourth quarter. Montag A & Associates Inc. now owns 475 shares of the solar cell manufacturer’s stock worth $84,000 after acquiring an additional 75 shares during the last quarter. Institutional investors and hedge funds own 92.08% of the company’s stock.

First Solar Stock Up 4.0 %

Shares of First Solar stock opened at $141.86 on Monday. The stock has a market capitalization of $15.21 billion, a price-to-earnings ratio of 12.22, a P/E/G ratio of 0.19 and a beta of 1.48. 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 company’s 50 day moving average price is $133.46 and its 200-day moving average price is $168.44. First Solar, Inc. has a 52-week low of $116.56 and a 52-week high of $306.77.

First Solar (NASDAQ:FSLR) last announced its earnings results on Tuesday, February 25th. The solar cell manufacturer reported $3.65 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 business had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.48 billion. Equities research analysts forecast that First Solar, Inc. will post 13.05 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts have commented on the company. Redburn Atlantic began coverage on First Solar in a report on Monday, March 3rd. They issued a “neutral” rating on the stock. Citigroup lowered their price target on shares of First Solar from $254.00 to $236.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 26th. Truist Financial reiterated a “buy” rating and issued a $245.00 price objective (down previously from $285.00) on shares of First Solar in a research note on Wednesday, April 2nd. Morgan Stanley set a $223.00 target price on shares of First Solar and gave the stock an “overweight” rating in a report on Wednesday. Finally, JPMorgan Chase & Co. reduced their price target on First Solar from $282.00 to $268.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 26th. 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 data from MarketBeat, First Solar presently has an average rating of “Moderate Buy” and a consensus price target of $249.96.

Insider Buying and Selling

In related news, CFO Alexander R. Bradley sold 599 shares of the firm’s stock in a transaction that occurred on Monday, March 17th. The stock was 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Mark R. Widmar sold 21,542 shares of the stock in a transaction dated 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 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 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 valued at $4,767,158 over the last ninety days. Company insiders own 0.48% of the company’s stock.

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.