Bank Julius Baer & Co. Ltd Zurich Acquires 7,455 Shares of First Solar, Inc. (NASDAQ:FSLR)

Bank Julius Baer & Co. Ltd Zurich lifted its holdings in shares of First Solar, Inc. (NASDAQ:FSLR - Free Report) by 6.4% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 123,529 shares of the solar cell manufacturer's stock after acquiring an additional 7,455 shares during the quarter. Bank Julius Baer & Co. Ltd Zurich owned approximately 0.12% of First Solar worth $16,944,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Norges Bank acquired a new position in First Solar during the 4th quarter worth approximately $317,399,000. Demars Financial Group LLC increased its holdings in First Solar by 17,404.5% in the fourth quarter. Demars Financial Group LLC now owns 722,760 shares of the solar cell manufacturer's stock valued at $127,379,000 after purchasing an additional 718,631 shares during the period. Royal Bank of Canada raised its position in First Solar by 218.6% during the 4th quarter. Royal Bank of Canada now owns 446,799 shares of the solar cell manufacturer's stock worth $78,744,000 after purchasing an additional 306,581 shares during the last quarter. Northern Trust Corp lifted its holdings in First Solar by 30.7% during the 4th quarter. Northern Trust Corp now owns 1,248,552 shares of the solar cell manufacturer's stock worth $220,045,000 after buying an additional 293,134 shares during the period. Finally, Encompass Capital Advisors LLC grew its position in shares of First Solar by 445.5% in the 4th quarter. Encompass Capital Advisors LLC now owns 329,718 shares of the solar cell manufacturer's stock valued at $58,110,000 after buying an additional 269,273 shares during the last quarter. 92.08% of the stock is owned by institutional investors and hedge funds.

First Solar Stock Performance

NASDAQ:FSLR opened at $179.99 on Wednesday. The firm has a market capitalization of $19.30 billion, a PE ratio of 15.31, a PEG ratio of 0.35 and a beta of 1.52. First Solar, Inc. has a fifty-two week low of $116.56 and a fifty-two week high of $262.72. The stock's fifty day moving average is $163.98 and its 200 day moving average is $153.50. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.39 and a current ratio of 1.93.

First Solar (NASDAQ:FSLR - Get Free Report) last announced its earnings results 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 net margin of 29.72% and a return on equity of 16.32%. The firm had revenue of $844.57 million during the quarter, compared to analyst estimates of $863.11 million. During the same quarter last year, the business earned $2.20 earnings per share. First Solar's revenue was up 6.4% on a year-over-year basis. On average, sell-side analysts anticipate that First Solar, Inc. will post 13.05 earnings per share for the current year.

Insider Transactions at First Solar

In related news, CTO Markus Gloeckler sold 9,557 shares of First Solar stock in a transaction that occurred on Wednesday, May 28th. The shares were sold at an average price of $155.05, for a total value of $1,481,812.85. Following the completion of the transaction, the chief technology officer owned 8,037 shares in the company, valued at approximately $1,246,136.85. The trade was a 54.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Michael Koralewski sold 2,951 shares of the stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $158.21, for a total value of $466,877.71. Following the completion of the sale, the insider directly owned 11,369 shares in the company, valued at $1,798,689.49. This represents a 20.61% decrease in their position. The disclosure for this sale can be found here. Insiders sold 15,976 shares of company stock worth $2,515,172 in the last 90 days. Insiders own 0.48% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on FSLR shares. UBS Group reiterated a "positive" rating on shares of First Solar in a report on Tuesday, July 8th. Susquehanna boosted their price target on shares of First Solar from $186.00 to $203.00 and gave the company a "positive" rating in a research note on Monday. Oppenheimer downgraded shares of First Solar from an "outperform" rating to a "market perform" rating in a research report on Wednesday, April 30th. The Goldman Sachs Group upped their target price on shares of First Solar from $204.00 to $255.00 and gave the stock a "buy" rating in a report on Monday, May 19th. Finally, TD Cowen cut their price target on First Solar from $275.00 to $200.00 and set a "buy" rating for the company in a research note on Wednesday, April 30th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, twenty-four have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $225.73.

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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