Clean Yield Group Purchases 1,558 Shares of First Solar, Inc. (NASDAQ:FSLR)

Clean Yield Group increased its stake in shares of First Solar, Inc. (NASDAQ:FSLR - Free Report) by 5.7% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 29,049 shares of the solar cell manufacturer's stock after acquiring an additional 1,558 shares during the period. First Solar comprises about 1.2% of Clean Yield Group's portfolio, making the stock its 27th largest position. Clean Yield Group's holdings in First Solar were worth $3,673,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in FSLR. Sumitomo Mitsui Trust Group Inc. raised its holdings in shares of First Solar by 2.3% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 249,831 shares of the solar cell manufacturer's stock worth $44,030,000 after acquiring an additional 5,691 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in shares of First Solar by 1.9% during the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 11,266 shares of the solar cell manufacturer's stock worth $1,986,000 after acquiring an additional 211 shares during the period. Apollon Wealth Management LLC raised its holdings in shares of First Solar by 4.0% during the fourth quarter. Apollon Wealth Management LLC now owns 3,802 shares of the solar cell manufacturer's stock worth $670,000 after acquiring an additional 145 shares during the period. Advisors Preferred LLC acquired a new stake in shares of First Solar during the fourth quarter worth $1,242,000. Finally, Empowered Funds LLC raised its holdings in shares of First Solar by 95.9% during the fourth quarter. Empowered Funds LLC now owns 14,507 shares of the solar cell manufacturer's stock worth $2,557,000 after acquiring an additional 7,103 shares during the period. 92.08% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. KeyCorp lowered shares of First Solar from a "sector weight" rating to an "underweight" rating and set a $100.00 price target on the stock. in a research note on Wednesday, April 30th. Robert W. Baird lowered their price target on shares of First Solar from $267.00 to $240.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 15th. BMO Capital Markets lowered their price target on shares of First Solar from $200.00 to $187.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 30th. Wolfe Research upgraded shares of First Solar from a "peer perform" rating to an "outperform" rating and set a $221.00 price target on the stock in a research note on Tuesday, May 13th. Finally, Piper Sandler lowered their price target on shares of First Solar from $230.00 to $205.00 and set an "overweight" rating on the stock in a research note on Monday, April 21st. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating, twenty-four have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, First Solar has a consensus rating of "Moderate Buy" and a consensus target price of $227.94.

First Solar Stock Up 1.5%

Shares of FSLR opened at $166.35 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 market cap of $17.84 billion, a P/E ratio of 14.33, a price-to-earnings-growth ratio of 0.19 and a beta of 1.53. The firm's 50-day simple moving average is $143.96 and its 200 day simple moving average is $159.47. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.44 and a current ratio of 2.14.

First Solar (NASDAQ:FSLR - Get Free Report) last announced 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). The company had revenue of $844.57 million during the quarter, compared to analyst estimates of $863.11 million. First Solar had a net margin of 32.41% and a return on equity of 17.56%. The firm's quarterly revenue was up 6.4% on a year-over-year basis. During the same quarter last year, the company posted $2.20 EPS. On average, analysts forecast that First Solar, Inc. will post 13.05 earnings per share for the current year.

Insider Activity at First Solar

In related news, CFO Alexander R. Bradley sold 599 shares of the 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 sale, the chief financial officer now owns 45,717 shares of the company's stock, valued at $6,114,648.75. This represents a 1.29% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Georges Antoun sold 229 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 $30,628.75. Following the completion of the transaction, the insider now owns 52,836 shares in the company, valued at $7,066,815. The trade was a 0.43% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 17,948 shares of company stock worth $2,704,927. Company insiders own 0.48% of the company's stock.

First Solar 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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