First Solar, Inc. (NASDAQ:FSLR) Shares Bought by Asset Management One Co. Ltd.

Asset Management One Co. Ltd. boosted its holdings in shares of First Solar, Inc. (NASDAQ:FSLR - Free Report) by 7.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 48,722 shares of the solar cell manufacturer's stock after acquiring an additional 3,226 shares during the quarter. Asset Management One Co. Ltd.'s holdings in First Solar were worth $6,160,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of FSLR. Norges Bank acquired a new stake in shares of First Solar in the fourth quarter valued at $317,399,000. Demars Financial Group LLC grew its stake in shares of 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 buying an additional 718,631 shares in the last quarter. Mirova US LLC grew its stake in shares of First Solar by 961.0% in the fourth quarter. Mirova US LLC now owns 646,310 shares of the solar cell manufacturer's stock valued at $113,906,000 after buying an additional 585,394 shares in the last quarter. Amundi grew its stake in shares of First Solar by 31.0% in the fourth quarter. Amundi now owns 1,805,244 shares of the solar cell manufacturer's stock valued at $336,871,000 after buying an additional 426,797 shares in the last quarter. Finally, Royal Bank of Canada grew its stake in shares of First Solar by 218.6% in the fourth quarter. Royal Bank of Canada now owns 446,799 shares of the solar cell manufacturer's stock valued at $78,744,000 after buying an additional 306,581 shares in the last quarter. 92.08% of the stock is owned by institutional investors and hedge funds.

First Solar Trading Down 2.2%

FSLR opened at $152.14 on Friday. The firm has a market cap of $16.32 billion, a price-to-earnings ratio of 12.94, a price-to-earnings-growth ratio of 0.30 and a beta of 1.53. First Solar, Inc. has a 52 week low of $116.56 and a 52 week high of $262.72. The business's 50 day moving average is $152.61 and its two-hundred day moving average is $155.25. The company has a quick ratio of 1.39, a current ratio of 1.93 and a debt-to-equity ratio of 0.04.

First Solar (NASDAQ:FSLR - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The solar cell manufacturer reported $1.95 EPS for the quarter, missing the consensus estimate of $2.50 by ($0.55). The firm had revenue of $844.57 million for the quarter, compared to analyst estimates of $863.11 million. First Solar had a return on equity of 16.32% and a net margin of 29.72%. The company's quarterly revenue was up 6.4% on a year-over-year basis. During the same period last year, the firm earned $2.20 EPS. On average, research analysts predict that First Solar, Inc. will post 13.05 EPS for the current year.

Insider Activity

In other news, insider Michael Koralewski sold 2,951 shares of the business's stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $158.21, for a total value of $466,877.71. Following the transaction, the insider now owns 11,369 shares of the company's stock, valued at approximately $1,798,689.49. The trade was a 20.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Patrick James Buehler sold 1,868 shares of the business's 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 now directly owns 5,998 shares in the company, valued at approximately $894,181.84. The trade was a 23.75% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 14,376 shares of company stock valued at $2,227,172. Company insiders own 0.48% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on FSLR shares. Jefferies Financial Group raised First Solar from a "hold" rating to a "buy" rating and lifted their price objective for the company from $157.00 to $192.00 in a research note on Wednesday, June 11th. Bank of America cut their price target on First Solar from $236.00 to $215.00 and set a "buy" rating on the stock in a report on Tuesday, April 8th. Piper Sandler reduced their price target on First Solar from $230.00 to $205.00 and set an "overweight" rating on the stock in a research report on Monday, April 21st. 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 research note on Thursday, May 1st. Finally, Barclays decreased their price objective on First Solar from $236.00 to $204.00 and set an "overweight" rating for the company in a research note on Friday, April 11th. 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. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $229.19.

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.

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