3,000 Shares in First Solar, Inc. (NASDAQ:FSLR) Purchased by IPG Investment Advisors LLC

Key Points

• IPG Investment Advisors LLC has purchased 3,000 shares of First Solar, Inc. (NASDAQ:FSLR) for approximately $379,000, as reported in their recent SEC filing.
• Institutional investors own around 92.08% of First Solar's stock, with several entities increasing their holdings significantly during the fourth quarter.
• First Solar reported $3.18 EPS for the last quarter, surpassing analysts' estimates, while revenue increased by 8.6% year-over-year to $1.10 billion.

IPG Investment Advisors LLC purchased a new stake in First Solar, Inc. (NASDAQ:FSLR - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 3,000 shares of the solar cell manufacturer's stock, valued at approximately $379,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Alliancebernstein L.P. increased its holdings in shares of First Solar by 9.8% in the fourth quarter. Alliancebernstein L.P. now owns 194,038 shares of the solar cell manufacturer's stock valued at $34,197,000 after purchasing an additional 17,389 shares during the period. Franklin Resources Inc. increased its stake in First Solar by 15.0% in the 4th quarter. Franklin Resources Inc. now owns 151,328 shares of the solar cell manufacturer's stock valued at $26,670,000 after buying an additional 19,694 shares during the period. Huntington National Bank increased its stake in First Solar by 15.3% in the 4th quarter. Huntington National Bank now owns 511 shares of the solar cell manufacturer's stock valued at $90,000 after buying an additional 68 shares during the period. World Investment Advisors purchased a new position in First Solar during the 4th quarter worth $292,000. Finally, Resona Asset Management Co. Ltd. acquired a new stake in shares of First Solar in the 4th quarter worth $5,458,000. 92.08% of the stock is owned by hedge funds and other institutional investors.

First Solar Price Performance

First Solar stock opened at $183.97 on Monday. The stock has a market capitalization of $19.73 billion, a P/E ratio of 15.74, a P/E/G ratio of 0.35 and a beta of 1.48. First Solar, Inc. has a 12-month low of $116.56 and a 12-month high of $262.72. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.90 and a quick ratio of 1.41. The firm's 50-day moving average is $165.81 and its two-hundred day moving average is $152.90.

First Solar (NASDAQ:FSLR - Get Free Report) last announced its earnings results on Thursday, July 31st. The solar cell manufacturer reported $3.18 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.68 by $0.50. The firm had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.03 billion. First Solar had a net margin of 28.95% and a return on equity of 15.57%. First Solar's revenue was up 8.6% compared to the same quarter last year. During the same quarter last year, the business earned $3.25 earnings per share. Equities analysts predict that First Solar, Inc. will post 13.05 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. Guggenheim dropped their price target on shares of First Solar from $253.00 to $202.00 and set a "buy" rating on the stock in a research note on Thursday, May 1st. Oppenheimer lowered First Solar from an "outperform" rating to a "market perform" rating in a report on Wednesday, April 30th. Piper Sandler cut their target price on First Solar from $230.00 to $205.00 and set an "overweight" rating for the company in a research note on Monday, April 21st. Wells Fargo & Company reduced their price target on First Solar from $191.00 to $177.00 and set an "overweight" rating for the company in a report on Wednesday, April 30th. Finally, Robert W. Baird dropped their price objective on First Solar from $267.00 to $240.00 and set an "outperform" rating on the stock in a report on Tuesday, April 15th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, twenty-three have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, First Solar currently has an average rating of "Moderate Buy" and a consensus price target of $221.90.

Insider Activity

In other First Solar news, insider Michael Koralewski sold 2,951 shares of the firm's stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $158.21, for a total value of $466,877.71. Following the sale, the insider directly owned 11,369 shares of the company's stock, valued at approximately $1,798,689.49. This trade represents a 20.61% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Patrick James Buehler sold 1,600 shares of the company's stock in a transaction dated Thursday, July 3rd. The shares were sold at an average price of $180.00, for a total transaction of $288,000.00. Following the transaction, the insider directly owned 4,398 shares of the company's stock, valued at approximately $791,640. This represents a 26.68% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 15,976 shares of company stock valued at $2,515,172 over the last quarter. 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.

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