First Solar, Inc. (NASDAQ:FSLR) Shares Bought by Harel Insurance Investments & Financial Services Ltd.

Harel Insurance Investments & Financial Services Ltd. raised its stake in First Solar, Inc. (NASDAQ:FSLR - Free Report) by 4,760.8% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,194 shares of the solar cell manufacturer's stock after buying an additional 7,046 shares during the period. Harel Insurance Investments & Financial Services Ltd.'s holdings in First Solar were worth $910,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. SPX Gestao de Recursos Ltda acquired a new position in First Solar during the fourth quarter worth $2,644,000. Smartleaf Asset Management LLC increased its position in shares of First Solar by 31.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 262 shares of the solar cell manufacturer's stock valued at $47,000 after buying an additional 63 shares in the last quarter. Jones Financial Companies Lllp raised its stake in shares of First Solar by 17.8% during the 4th quarter. Jones Financial Companies Lllp now owns 2,308 shares of the solar cell manufacturer's stock worth $407,000 after buying an additional 348 shares during the last quarter. SBI Securities Co. Ltd. purchased a new stake in shares of First Solar in the 4th quarter worth about $114,000. Finally, Mission Wealth Management LP grew its stake in First Solar by 45.6% in the 4th quarter. Mission Wealth Management LP now owns 1,245 shares of the solar cell manufacturer's stock valued at $219,000 after acquiring an additional 390 shares during the last quarter. 92.08% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have issued reports on FSLR. Robert W. Baird reduced their price target on shares of First Solar from $267.00 to $240.00 and set an "outperform" rating on the stock in a report on Tuesday, April 15th. Truist Financial restated a "buy" rating and set a $200.00 price objective (down from $245.00) on shares of First Solar in a research report on Thursday, May 1st. Jefferies Financial Group upgraded First Solar from a "hold" rating to a "buy" rating and increased their target price for the company from $157.00 to $192.00 in a report on Wednesday, June 11th. BMO Capital Markets cut their price target on First Solar from $200.00 to $187.00 and set an "outperform" rating for the company in a report on Wednesday, April 30th. Finally, Bank of America reduced their price objective on First Solar from $236.00 to $215.00 and set a "buy" rating on the stock in a research report on Tuesday, April 8th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating, twenty-four have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, First Solar presently has an average rating of "Moderate Buy" and a consensus target price of $228.69.

Insider Activity at First Solar

In other First Solar news, insider Michael Koralewski sold 2,951 shares of the firm's stock in a transaction dated 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 directly owned 11,369 shares of the company's stock, valued at $1,798,689.49. This trade represents a 20.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Patrick James Buehler sold 1,868 shares of the stock in a transaction dated 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 sale, the insider owned 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 90 days, insiders have sold 14,376 shares of company stock worth $2,227,172. 0.48% of the stock is currently owned by corporate insiders.

First Solar Trading Up 8.7%

Shares of First Solar stock traded up $14.91 during trading hours on Friday, reaching $185.43. The stock had a trading volume of 6,399,688 shares, compared to its average volume of 3,233,808. The firm has a market capitalization of $19.89 billion, a price-to-earnings ratio of 15.77, a P/E/G ratio of 0.37 and a beta of 1.52. First Solar, Inc. has a 1 year low of $116.56 and a 1 year high of $262.72. The company has a current ratio of 1.93, a quick ratio of 1.39 and a debt-to-equity ratio of 0.04. The firm has a 50 day simple moving average of $156.66 and a two-hundred day simple moving average of $154.83.

First Solar (NASDAQ:FSLR - Get Free Report) last posted 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). 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 during the quarter, compared to analysts' expectations of $863.11 million. During the same quarter in the previous year, the business posted $2.20 EPS. The company's quarterly revenue was up 6.4% on a year-over-year basis. As a group, equities research analysts anticipate that First Solar, Inc. will post 13.05 earnings per share for the current 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.