GAMMA Investing LLC Increases Stock Position in First Solar, Inc. (NASDAQ:FSLR)

GAMMA Investing LLC increased its stake in shares of First Solar, Inc. (NASDAQ:FSLR - Free Report) by 8,992.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 204,943 shares of the solar cell manufacturer's stock after purchasing an additional 202,689 shares during the quarter. GAMMA Investing LLC owned approximately 0.19% of First Solar worth $25,911,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC grew its stake in First Solar by 665.8% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 39,192 shares of the solar cell manufacturer's stock worth $7,308,000 after buying an additional 34,074 shares during the last quarter. Paragon Capital Management Inc. purchased a new position in First Solar in the 4th quarter worth $1,240,000. RWC Asset Management LLP purchased a new stake in First Solar during the 4th quarter valued at about $16,745,000. Bank of New York Mellon Corp boosted its position in First Solar by 9.9% in the fourth quarter. Bank of New York Mellon Corp now owns 711,688 shares of the solar cell manufacturer's stock valued at $125,428,000 after buying an additional 63,820 shares during the last quarter. Finally, Ethic Inc. increased its holdings in First Solar by 34.2% in the 4th quarter. Ethic Inc. now owns 17,807 shares of the solar cell manufacturer's stock worth $3,138,000 after buying an additional 4,542 shares during the period. Institutional investors own 92.08% of the company's stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on FSLR shares. Wolfe Research upgraded First Solar from a "peer perform" rating to an "outperform" rating and set a $221.00 price target for the company in a research report on Tuesday, May 13th. The Goldman Sachs Group lifted their price objective on shares of First Solar from $204.00 to $255.00 and gave the company a "buy" rating in a report on Monday, May 19th. Robert W. Baird lowered their target price on shares of First Solar from $267.00 to $240.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 15th. Piper Sandler reduced 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. Finally, Royal Bank of Canada lowered their price target on First Solar from $237.00 to $214.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 30th. Two analysts have rated the stock with a sell rating, five have issued a hold rating, twenty-four have assigned a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $227.94.

Insider Buying and Selling

In other First Solar news, CTO Markus Gloeckler sold 9,557 shares of the company's stock in a transaction dated Wednesday, May 28th. The stock was sold at an average price of $155.05, for a total transaction of $1,481,812.85. Following the sale, the chief technology officer now owns 8,037 shares in the company, valued at $1,246,136.85. This represents a 54.32% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Georges Antoun sold 229 shares of the stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $133.75, for a total transaction of $30,628.75. Following the completion of the sale, the insider now directly owns 52,836 shares in the company, valued at approximately $7,066,815. This represents a 0.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 17,948 shares of company stock valued at $2,704,927. Company insiders own 0.48% of the company's stock.

First Solar Trading Up 1.5%

Shares of NASDAQ FSLR traded up $2.51 during mid-day trading on Friday, reaching $166.35. 2,118,199 shares of the company's stock were exchanged, compared to its average volume of 3,061,801. The company's 50-day moving average is $143.19 and its 200-day moving average is $159.79. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.44 and a current ratio of 2.14. The firm has a market capitalization of $17.84 billion, a price-to-earnings ratio of 14.33, a PEG ratio of 0.19 and a beta of 1.53. First Solar, Inc. has a 52-week low of $116.56 and a 52-week high of $306.77.

First Solar (NASDAQ:FSLR - Get Free Report) last posted its earnings results on Tuesday, April 29th. The solar cell manufacturer reported $1.95 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 company had revenue of $844.57 million during the quarter, compared to analyst estimates of $863.11 million. During the same period in the previous year, the company earned $2.20 EPS. The company's quarterly revenue was up 6.4% compared to the same quarter last year. 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.