First Solar, Inc. (NASDAQ:FSLR) Shares Bought by Cozad Asset Management Inc.

Key Points

• Cozad Asset Management Inc. significantly increased its holdings in First Solar, Inc., acquiring an additional 5,092 shares, which boosted its total ownership by 263.8% to 7,022 shares worth approximately $888,000.
• Several other institutional investors have also changed their positions in First Solar, with 92.08% of the company’s stock now owned by institutional investors and hedge funds.
• Analysts have mixed views on First Solar's stock, with a consensus rating of "Moderate Buy" and an average price target of $225.73, despite recent reductions in target prices from some investment firms.

Cozad Asset Management Inc. grew its stake in shares of First Solar, Inc. (NASDAQ:FSLR - Free Report) by 263.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,022 shares of the solar cell manufacturer's stock after buying an additional 5,092 shares during the period. Cozad Asset Management Inc.'s holdings in First Solar were worth $888,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Thrivent Financial for Lutherans increased its position in First Solar by 27.0% in the fourth quarter. Thrivent Financial for Lutherans now owns 5,572 shares of the solar cell manufacturer's stock worth $982,000 after purchasing an additional 1,185 shares during the last quarter. Sei Investments Co. increased its position in First Solar by 67.6% in the fourth quarter. Sei Investments Co. now owns 27,035 shares of the solar cell manufacturer's stock worth $4,764,000 after purchasing an additional 10,906 shares during the last quarter. LPL Financial LLC increased its position in First Solar by 17.9% in the fourth quarter. LPL Financial LLC now owns 53,675 shares of the solar cell manufacturer's stock worth $9,460,000 after purchasing an additional 8,167 shares during the last quarter. Blair William & Co. IL increased its position in First Solar by 25.1% in the fourth quarter. Blair William & Co. IL now owns 7,302 shares of the solar cell manufacturer's stock worth $1,287,000 after purchasing an additional 1,467 shares during the last quarter. Finally, New Age Alpha Advisors LLC bought a new stake in First Solar in the fourth quarter worth $533,000. Institutional investors own 92.08% of the company's stock.

Insider Activity at First Solar

In related news, insider Patrick James Buehler sold 1,868 shares of the stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $149.08, for a total value of $278,481.44. Following the completion of the transaction, the insider directly owned 5,998 shares of the company's stock, valued at $894,181.84. This trade represents a 23.75% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Michael Koralewski sold 2,951 shares of the stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $158.21, for a total transaction of $466,877.71. Following the completion of the transaction, the insider directly owned 11,369 shares of the company's stock, valued at $1,798,689.49. The trade was a 20.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 15,976 shares of company stock valued at $2,515,172 in the last three months. 0.48% of the stock is owned by insiders.

First Solar Stock Down 2.5%

Shares of FSLR stock traded down $4.40 during mid-day trading on Thursday, hitting $174.73. 3,554,488 shares of the stock traded hands, compared to its average volume of 2,775,619. The stock has a market cap of $18.74 billion, a P/E ratio of 14.86, a P/E/G ratio of 0.35 and a beta of 1.52. The stock's fifty day moving average is $165.30 and its two-hundred day moving average is $153.41. First Solar, Inc. has a 52-week low of $116.56 and a 52-week high of $262.72. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.93 and a quick ratio of 1.39.

First Solar (NASDAQ:FSLR - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The solar cell manufacturer reported $3.18 EPS for the quarter, beating the consensus estimate of $2.68 by $0.50. First Solar had a net margin of 29.72% and a return on equity of 16.32%. The firm's revenue was up 8.6% on a year-over-year basis. During the same period last year, the company posted $3.25 earnings per share. Equities analysts predict that First Solar, Inc. will post 13.05 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have commented on FSLR shares. Truist Financial reaffirmed a "buy" rating and set a $200.00 price objective (down from $245.00) on shares of First Solar in a research note on Thursday, May 1st. Piper Sandler dropped their price objective 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. The Goldman Sachs Group lifted their price objective on shares of First Solar from $204.00 to $255.00 and gave the stock a "buy" rating in a research note on Monday, May 19th. Morgan Stanley set a $223.00 price objective on shares of First Solar and gave the stock an "overweight" rating in a research note on Wednesday, April 23rd. Finally, Royal Bank Of Canada lifted their price objective on shares of First Solar from $188.00 to $200.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 1st. Two analysts have rated the stock with a sell rating, four have issued a hold rating, twenty-four have assigned a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, First Solar presently has a consensus rating of "Moderate Buy" and an average price target of $225.73.

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.