Siemens Fonds Invest GmbH Has $484,000 Holdings in First Solar, Inc. (NASDAQ:FSLR)

Siemens Fonds Invest GmbH increased its position in shares of First Solar, Inc. (NASDAQ:FSLR) by 147.9% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,749 shares of the solar cell manufacturer’s stock after buying an additional 1,640 shares during the period. Siemens Fonds Invest GmbH’s holdings in First Solar were worth $484,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Shell Asset Management Co. raised its position in shares of First Solar by 22.7% in the 4th quarter. Shell Asset Management Co. now owns 3,333 shares of the solar cell manufacturer’s stock worth $587,000 after acquiring an additional 617 shares in the last quarter. SIR Capital Management L.P. acquired a new stake in First Solar during the fourth quarter worth approximately $4,811,000. Sora Investors LLC bought a new stake in First Solar in the fourth quarter worth approximately $23,297,000. Royal Bank of Canada lifted its stake in First Solar by 218.6% in the fourth quarter. Royal Bank of Canada now owns 446,799 shares of the solar cell manufacturer’s stock valued at $78,744,000 after buying an additional 306,581 shares during the period. Finally, Raiffeisen Bank International AG bought a new position in shares of First Solar during the 4th quarter worth approximately $30,249,000. Institutional investors and hedge funds own 92.08% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on FSLR. StockNews.com lowered shares of First Solar from a “hold” rating to a “sell” rating in a research note on Friday, May 2nd. Piper Sandler decreased their price target on shares of First Solar from $230.00 to $205.00 and set an “overweight” rating for the company in a research note on Monday, April 21st. UBS Group reissued a “buy” rating and set a $255.00 price objective on shares of First Solar in a research report on Wednesday. Royal Bank of Canada reduced their target price on First Solar from $237.00 to $214.00 and set an “outperform” rating for the company in a research note on Wednesday, April 30th. Finally, Guggenheim dropped their price target on First Solar from $253.00 to $202.00 and set a “buy” rating on the stock in a research note on Thursday, May 1st. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating, twenty-four have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, First Solar presently has a consensus rating of “Moderate Buy” and a consensus price target of $224.48.

Insider Transactions at First Solar

In related news, CEO Mark R. Widmar sold 1,966 shares of the company’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 value of $262,952.50. Following the transaction, the chief executive officer now owns 111,890 shares in the company, valued at approximately $14,965,287.50. This represents a 1.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CTO Markus Gloeckler sold 380 shares of the firm’s stock in a transaction on Monday, March 17th. The stock was sold at an average price of $133.75, for a total value of $50,825.00. Following the completion of the sale, the chief technology officer now directly owns 17,594 shares of the company’s stock, valued at $2,353,197.50. This represents a 2.11% 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 ninety days. Company insiders own 0.48% of the company’s stock.

First Solar Trading Down 4.1%

NASDAQ:FSLR opened at $178.46 on Friday. First Solar, Inc. has a 52 week low of $116.56 and a 52 week high of $306.77. The firm has a 50-day moving average price of $134.97 and a two-hundred day moving average price of $163.14. 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 firm has a market cap of $19.14 billion, a price-to-earnings ratio of 15.37, a price-to-earnings-growth ratio of 0.19 and a beta of 1.46.

First Solar (NASDAQ:FSLR) last issued its quarterly earnings results on Tuesday, April 29th. The solar cell manufacturer reported $1.95 EPS for the quarter, missing analysts’ consensus estimates of $2.50 by ($0.55). First Solar had a net margin of 32.41% and a return on equity of 17.56%. The business had revenue of $844.57 million for the quarter, compared to analysts’ expectations of $863.11 million. During the same period in the previous year, the business posted $2.20 earnings per share. The business’s revenue was up 6.4% compared to the same quarter last year. On average, equities analysts expect that First Solar, Inc. will post 13.05 earnings per share for the current fiscal 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.