New Age Alpha Advisors LLC Buys 16,620 Shares of First Solar, Inc. (NASDAQ:FSLR)

Key Points

• New Age Alpha Advisors LLC increased its stake in First Solar by 549.1% during the first quarter, holding a total of 19,647 shares now worth around $2.48 million.
• Institutional investors dominate First Solar's ownership, holding 92.08% of the stock, with several firms making significant increases in their positions recently.
• First Solar's latest earnings report showed an earnings per share of $3.18, exceeding expectations, alongside quarterly revenue of $1.10 billion and a 28.95% net margin.

New Age Alpha Advisors LLC lifted its holdings in shares of First Solar, Inc. (NASDAQ:FSLR - Free Report) by 549.1% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 19,647 shares of the solar cell manufacturer's stock after acquiring an additional 16,620 shares during the quarter. New Age Alpha Advisors LLC's holdings in First Solar were worth $2,484,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Demars Financial Group LLC lifted its holdings in First Solar by 17,404.5% during the 4th quarter. Demars Financial Group LLC now owns 722,760 shares of the solar cell manufacturer's stock worth $127,379,000 after purchasing an additional 718,631 shares during the last quarter. Royal Bank of Canada lifted its holdings 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 purchasing an additional 293,134 shares during the last quarter. Encompass Capital Advisors LLC lifted its holdings in First Solar by 445.5% during the 4th quarter. Encompass Capital Advisors LLC now owns 329,718 shares of the solar cell manufacturer's stock worth $58,110,000 after purchasing an additional 269,273 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in First Solar by 26.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,249,600 shares of the solar cell manufacturer's stock worth $220,250,000 after purchasing an additional 261,480 shares during the last quarter. 92.08% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other First Solar news, insider Michael Koralewski sold 2,951 shares of the company'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 owned 11,369 shares in the company, valued at approximately $1,798,689.49. The trade was a 20.61% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 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 value of $288,000.00. Following the completion of the sale, the insider owned 4,398 shares in the company, valued at $791,640. This trade represents a 26.68% decrease in their position. The disclosure for this sale can be found here. Insiders have 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.

Analysts Set New Price Targets

Several analysts recently weighed in on FSLR shares. Susquehanna lifted their price target on First Solar from $203.00 to $222.00 and gave the stock a "positive" rating in a report on Friday, August 1st. Bank of America lifted their price target on First Solar from $185.00 to $201.00 and gave the stock a "buy" rating in a report on Tuesday, July 22nd. TD Cowen lifted their price objective on First Solar from $200.00 to $220.00 and gave the company a "buy" rating in a report on Friday, August 1st. Oppenheimer cut First Solar from an "outperform" rating to a "market perform" rating in a report on Wednesday, April 30th. Finally, Morgan Stanley set a $223.00 price objective on First Solar and gave the company an "overweight" rating in a report on Wednesday, April 23rd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, twenty-three have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, First Solar currently has a consensus rating of "Moderate Buy" and an average target price of $222.67.

First Solar Price Performance

FSLR stock traded down $0.95 during midday trading on Friday, reaching $184.65. 1,629,586 shares of the stock were exchanged, compared to its average volume of 2,623,156. The stock has a market capitalization of $19.80 billion, a PE ratio of 15.80, a P/E/G ratio of 0.36 and a beta of 1.48. 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 1.90 and a quick ratio of 1.41. The company has a fifty day moving average price of $168.61 and a 200 day moving average price of $153.25.

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

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.