First Solar, Inc. (NASDAQ:FSLR) Shares Purchased by Cetera Investment Advisers

Key Points

• Cetera Investment Advisers increased its stake in First Solar by 10.9% during the first quarter, owning 25,437 shares worth approximately $3.22 million.
• First Solar reported a quarterly earnings per share (EPS) of $3.18, surpassing analysts' expectations of $2.68, with total revenue of $1.10 billion.
• Following recent investment activity, institutional investors now hold 92.08% of First Solar’s stock, highlighting strong interest in the company from large financial entities.

Cetera Investment Advisers grew its position in First Solar, Inc. (NASDAQ:FSLR - Free Report) by 10.9% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 25,437 shares of the solar cell manufacturer's stock after acquiring an additional 2,510 shares during the quarter. Cetera Investment Advisers' holdings in First Solar were worth $3,216,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Demars Financial Group LLC lifted 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 acquiring an additional 718,631 shares during the period. Royal Bank of Canada grew its holdings in First Solar by 218.6% in the 4th 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 during the period. Northern Trust Corp lifted its stake in shares of First Solar by 30.7% in the 4th quarter. Northern Trust Corp now owns 1,248,552 shares of the solar cell manufacturer's stock valued at $220,045,000 after purchasing an additional 293,134 shares in the last quarter. Encompass Capital Advisors LLC lifted its stake 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 purchasing an additional 269,273 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in First Solar by 26.5% in 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 acquiring an additional 261,480 shares during the period. 92.08% of the stock is owned by institutional investors and hedge funds.

First Solar Stock Performance

Shares of NASDAQ FSLR opened at $186.84 on Wednesday. The company has a quick ratio of 1.41, a current ratio of 1.90 and a debt-to-equity ratio of 0.04. The business's 50 day moving average is $166.93 and its two-hundred day moving average is $153.07. The company has a market cap of $20.04 billion, a P/E ratio of 15.98, a P/E/G ratio of 0.34 and a beta of 1.48. First Solar, Inc. has a 12 month low of $116.56 and a 12 month high of $262.72.

First Solar (NASDAQ:FSLR - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The solar cell manufacturer reported $3.18 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.68 by $0.50. The business had revenue of $1.10 billion for the quarter, compared to analysts' expectations 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% on a year-over-year basis. During the same period in the previous year, the business posted $3.25 earnings per share. On average, equities analysts expect that First Solar, Inc. will post 13.05 EPS for the current year.

Analysts Set New Price Targets

A number of research firms have weighed in on FSLR. Piper Sandler decreased their price target on First Solar from $230.00 to $205.00 and set an "overweight" rating for the company in a report on Monday, April 21st. Jefferies Financial Group set a $194.00 target price on First Solar and gave the stock a "buy" rating in a research report on Tuesday, July 15th. Bank of America raised their price target on First Solar from $185.00 to $201.00 and gave the company a "buy" rating in a report on Tuesday, July 22nd. Wall Street Zen raised First Solar from a "sell" rating to a "hold" rating in a report on Saturday. Finally, BMO Capital Markets increased their price target on First Solar from $194.00 to $203.00 and gave the company an "outperform" rating in a research report on Friday, August 1st. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, twenty-three have given a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $222.67.

Insider Activity at First Solar

In other news, insider Michael Koralewski sold 2,951 shares of the company's stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $158.21, for a total transaction of $466,877.71. Following the transaction, the insider owned 11,369 shares of the company's stock, valued at $1,798,689.49. This represents a 20.61% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CTO Markus Gloeckler sold 9,557 shares of the company's stock in a transaction 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 transaction, the chief technology officer directly owned 8,037 shares in the company, valued at $1,246,136.85. This trade represents a 54.32% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 15,976 shares of company stock valued at $2,515,172 in the last 90 days. 0.48% of the stock is owned by corporate insiders.

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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