Foster Victor Wealth Advisors LLC Buys 33,593 Shares of First Solar, Inc. (NASDAQ:FSLR)

Foster Victor Wealth Advisors LLC lifted its stake in shares of First Solar, Inc. (NASDAQ:FSLR - Free Report) by 53.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 96,794 shares of the solar cell manufacturer's stock after acquiring an additional 33,593 shares during the quarter. Foster Victor Wealth Advisors LLC owned about 0.09% of First Solar worth $12,189,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. SPX Gestao de Recursos Ltda bought a new position in shares of First Solar in the fourth quarter valued at $2,644,000. Gladstone Institutional Advisory LLC increased its holdings in shares of First Solar by 19.2% in the fourth quarter. Gladstone Institutional Advisory LLC now owns 2,073 shares of the solar cell manufacturer's stock valued at $365,000 after buying an additional 334 shares in the last quarter. Allspring Global Investments Holdings LLC increased its holdings in shares of First Solar by 665.8% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 39,192 shares of the solar cell manufacturer's stock valued at $7,308,000 after buying an additional 34,074 shares in the last quarter. Van ECK Associates Corp increased its holdings in shares of First Solar by 4.9% in the fourth quarter. Van ECK Associates Corp now owns 45,139 shares of the solar cell manufacturer's stock valued at $7,955,000 after buying an additional 2,102 shares in the last quarter. Finally, Asset Management One Co. Ltd. increased its holdings in shares of First Solar by 8.5% in the fourth quarter. Asset Management One Co. Ltd. now owns 45,496 shares of the solar cell manufacturer's stock valued at $8,309,000 after buying an additional 3,562 shares in the last quarter. Institutional investors and hedge funds own 92.08% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on FSLR shares. UBS Group reissued a "buy" rating and set a $255.00 target price on shares of First Solar in a research note on Wednesday, May 14th. Roth Mkm reissued a "buy" rating and set a $280.00 target price on shares of First Solar in a research note on Wednesday, February 26th. Jefferies Financial Group raised shares of First Solar from a "hold" rating to a "buy" rating and boosted their target price for the company from $157.00 to $192.00 in a research note on Wednesday. TD Cowen cut their target price on shares of First Solar from $275.00 to $200.00 and set a "buy" rating on the stock in a research note on Wednesday, April 30th. Finally, Piper Sandler cut their target price 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, four have issued a hold rating, twenty-five have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $229.19.

First Solar Stock Performance

FSLR stock traded up $7.37 during mid-day trading on Friday, reaching $175.20. 4,464,949 shares of the stock traded hands, compared to its average volume of 3,062,662. The company has a quick ratio of 1.44, a current ratio of 2.14 and a debt-to-equity ratio of 0.05. First Solar, Inc. has a 52 week low of $116.56 and a 52 week high of $274.08. The business has a 50-day moving average of $147.77 and a two-hundred day moving average of $158.70. The firm has a market capitalization of $18.79 billion, a PE ratio of 15.09, a P/E/G ratio of 0.19 and a beta of 1.53.

First Solar (NASDAQ:FSLR - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The solar cell manufacturer reported $1.95 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.50 by ($0.55). First Solar had a net margin of 32.41% and a return on equity of 17.56%. The firm had revenue of $844.57 million for the quarter, compared to the consensus estimate of $863.11 million. During the same quarter last year, the company earned $2.20 earnings per share. The firm's revenue was up 6.4% on a year-over-year basis. As a group, equities analysts predict that First Solar, Inc. will post 13.05 EPS for the current fiscal year.

Insider Activity

In other news, insider Patrick James Buehler sold 1,868 shares of the firm'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 transaction of $278,481.44. Following the completion of the sale, the insider now owns 5,998 shares of the company's stock, valued at approximately $894,181.84. This trade represents a 23.75% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Mark R. Widmar sold 1,966 shares of the firm's 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 $262,952.50. Following the sale, the chief executive officer now directly owns 111,890 shares of the company's stock, valued at approximately $14,965,287.50. The trade was a 1.73% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 17,948 shares of company stock valued at $2,704,927. 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.