Grace & White Inc. NY Has $10.02 Million Stock Position in First Solar, Inc. (NASDAQ:FSLR)

Grace & White Inc. NY raised its position in First Solar, Inc. (NASDAQ:FSLR - Free Report) by 10.5% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 79,275 shares of the solar cell manufacturer's stock after purchasing an additional 7,565 shares during the period. First Solar comprises about 1.9% of Grace & White Inc. NY's investment portfolio, making the stock its 15th largest position. Grace & White Inc. NY owned about 0.07% of First Solar worth $10,023,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in FSLR. SPX Gestao de Recursos Ltda purchased a new position in First Solar in the 4th quarter valued at about $2,644,000. Atria Wealth Solutions Inc. increased its position in First Solar by 10.3% during the 4th quarter. Atria Wealth Solutions Inc. now owns 10,222 shares of the solar cell manufacturer's stock worth $1,801,000 after purchasing an additional 956 shares in the last quarter. ING Groep NV acquired a new stake in First Solar during the 4th quarter worth approximately $2,600,000. Hudson Edge Investment Partners Inc. acquired a new stake in First Solar during the 4th quarter worth approximately $53,000. Finally, TCW Group Inc. increased its position in First Solar by 104.5% during the 4th quarter. TCW Group Inc. now owns 33,490 shares of the solar cell manufacturer's stock worth $5,902,000 after purchasing an additional 17,116 shares in the last quarter. 92.08% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Michael Koralewski sold 2,951 shares of the firm's stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $158.21, for a total transaction of $466,877.71. Following the completion of the transaction, the insider now owns 11,369 shares in the company, valued at approximately $1,798,689.49. This trade represents a 20.61% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Patrick James Buehler sold 1,868 shares of the firm's stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $149.08, for a total transaction of $278,481.44. Following the transaction, 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 position. The disclosure for this sale can be found here. In the last quarter, insiders sold 14,376 shares of company stock worth $2,227,172. Corporate insiders own 0.48% of the company's stock.

Analyst Ratings Changes

FSLR has been the subject of a number of research analyst reports. Morgan Stanley set a $223.00 target price on shares of First Solar and gave the stock an "overweight" rating in a research report on Wednesday, April 23rd. Jefferies Financial Group raised shares of First Solar from a "hold" rating to a "buy" rating and increased their price objective for the company from $157.00 to $192.00 in a research report on Wednesday, June 11th. Piper Sandler decreased their price target on shares of First Solar from $230.00 to $205.00 and set an "overweight" rating for the company in a research report on Monday, April 21st. Truist Financial reissued a "buy" rating and set a $200.00 price target (down previously from $245.00) on shares of First Solar in a research report on Thursday, May 1st. Finally, Glj Research upgraded First Solar from a "hold" rating to a "buy" rating and set a $172.37 price objective on the stock in a research note on Thursday, May 1st. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating, twenty-five have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $229.19.

First Solar Stock Performance

Shares of NASDAQ FSLR traded up $2.93 during midday trading on Thursday, reaching $155.63. 4,123,627 shares of the company traded hands, compared to its average volume of 3,182,348. First Solar, Inc. has a 52 week low of $116.56 and a 52 week high of $262.72. The stock has a 50-day moving average price of $152.12 and a 200 day moving average price of $155.91. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.93 and a quick ratio of 1.39. The company has a market cap of $16.69 billion, a price-to-earnings ratio of 13.23, a PEG ratio of 0.31 and a beta of 1.53.

First Solar (NASDAQ:FSLR - Get Free Report) last posted its quarterly earnings data on Tuesday, April 29th. The solar cell manufacturer reported $1.95 earnings per share for the quarter, missing the consensus estimate of $2.50 by ($0.55). First Solar had a net margin of 29.72% and a return on equity of 16.32%. The business 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 business posted $2.20 EPS. The business's revenue for the quarter was up 6.4% on a year-over-year basis. Sell-side analysts anticipate that First Solar, Inc. will post 13.05 earnings per share 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.