Amiral Gestion Makes New Investment in First Solar, Inc. (NASDAQ:FSLR)

Amiral Gestion bought a new stake in First Solar, Inc. (NASDAQ:FSLR - Free Report) in the 4th quarter, according to its most recent filing with the SEC. The fund bought 3,000 shares of the solar cell manufacturer's stock, valued at approximately $529,000. First Solar accounts for 0.3% of Amiral Gestion's investment portfolio, making the stock its 25th largest holding.

Other large investors have also modified their holdings of the company. Allspring Global Investments Holdings LLC lifted its position in shares of First Solar by 665.8% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 39,192 shares of the solar cell manufacturer's stock valued at $7,308,000 after acquiring an additional 34,074 shares in the last quarter. Paragon Capital Management Inc. acquired a new position in First Solar in the 4th quarter valued at $1,240,000. Robeco Institutional Asset Management B.V. lifted its holdings in First Solar by 9.0% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 595,267 shares of the solar cell manufacturer's stock valued at $104,910,000 after purchasing an additional 49,074 shares in the last quarter. Golden State Equity Partners boosted its stake in First Solar by 41,342.9% during the 4th quarter. Golden State Equity Partners now owns 2,901 shares of the solar cell manufacturer's stock worth $511,000 after purchasing an additional 2,894 shares during the last quarter. Finally, RWC Asset Management LLP purchased a new stake in shares of First Solar during the fourth quarter worth $16,745,000. Institutional investors and hedge funds own 92.08% of the company's stock.

Insiders Place Their Bets

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 in the company, 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 through the SEC website. Also, CEO Mark R. Widmar sold 1,272 shares of the firm's stock in a transaction on Friday, March 7th. The shares were sold at an average price of $132.96, for a total value of $169,125.12. Following the sale, the chief executive officer now directly owns 109,000 shares of the company's stock, valued at $14,492,640. This represents a 1.15% 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 in the last three months. Insiders own 0.48% of the company's stock.

First Solar Price Performance

FSLR stock traded down $2.65 during trading hours on Tuesday, hitting $155.73. 3,833,126 shares of the stock traded hands, compared to its average volume of 3,069,277. The stock has a 50-day simple moving average of $138.52 and a 200 day simple moving average of $161.18. The company has a market cap of $16.70 billion, a P/E ratio of 13.41, a P/E/G ratio of 0.19 and a beta of 1.46. First Solar, Inc. has a one year low of $116.56 and a one year high of $306.77. The company has a current ratio of 2.14, a quick ratio of 1.44 and a debt-to-equity ratio of 0.05.

First Solar (NASDAQ:FSLR - Get Free Report) last released its quarterly earnings data on Tuesday, April 29th. The solar cell manufacturer reported $1.95 earnings per share for the quarter, missing the consensus estimate of $2.50 by ($0.55). First Solar had a return on equity of 17.56% and a net margin of 32.41%. The company had revenue of $844.57 million for the quarter, compared to the consensus estimate of $863.11 million. During the same period in the prior year, the business earned $2.20 earnings per share. The business's revenue was up 6.4% compared to the same quarter last year. Equities analysts forecast that First Solar, Inc. will post 13.05 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Truist Financial reiterated a "buy" rating and issued a $200.00 price objective (down previously from $245.00) on shares of First Solar in a report on Thursday, May 1st. Susquehanna dropped their price target on shares of First Solar from $223.00 to $217.00 and set a "positive" rating for the company in a research note on Monday, April 14th. JPMorgan Chase & Co. reduced their price target on shares of First Solar from $282.00 to $268.00 and set an "overweight" rating on the stock in a research report on Wednesday, February 26th. Citigroup lowered their price objective on First Solar from $254.00 to $236.00 and set a "neutral" rating for the company in a research report on Wednesday, February 26th. Finally, Glj Research raised First Solar from a "hold" rating to a "buy" rating and set a $172.37 target price for the company in a research note on Thursday, May 1st. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, twenty-four have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, First Solar presently has an average rating of "Moderate Buy" and an average price target of $227.37.

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.