Janney Montgomery Scott LLC Increases Stock Position in First Solar, Inc. (NASDAQ:FSLR)

Janney Montgomery Scott LLC raised its holdings in First Solar, Inc. (NASDAQ:FSLR - Free Report) by 226.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 21,264 shares of the solar cell manufacturer's stock after purchasing an additional 14,751 shares during the quarter. Janney Montgomery Scott LLC's holdings in First Solar were worth $2,688,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in FSLR. Smartleaf Asset Management LLC lifted its position in shares of First Solar by 31.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 262 shares of the solar cell manufacturer's stock valued at $47,000 after acquiring an additional 63 shares during the period. Princeton Global Asset Management LLC acquired a new stake in shares of First Solar during the 1st quarter valued at approximately $51,000. Banque Transatlantique SA acquired a new stake in shares of First Solar during the 4th quarter valued at approximately $53,000. CoreFirst Bank & Trust acquired a new stake in shares of First Solar during the 4th quarter valued at approximately $54,000. Finally, Whipplewood Advisors LLC lifted its position in shares of First Solar by 10,983.3% during the 1st quarter. Whipplewood Advisors LLC now owns 665 shares of the solar cell manufacturer's stock valued at $84,000 after acquiring an additional 659 shares during the period. Hedge funds and other institutional investors own 92.08% of the company's stock.

First Solar Stock Up 1.0%

Shares of NASDAQ FSLR opened at $152.70 on Thursday. First Solar, Inc. has a 52-week low of $116.56 and a 52-week high of $262.72. The firm has a fifty day moving average of $151.57 and a 200-day moving average of $156.22. The stock has a market capitalization of $16.38 billion, a PE ratio of 12.98, a P/E/G ratio of 0.30 and a beta of 1.53. The company has a quick ratio of 1.39, a current ratio of 1.93 and a debt-to-equity ratio of 0.04.

First Solar (NASDAQ:FSLR - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The solar cell manufacturer reported $1.95 earnings per share (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 company had revenue of $844.57 million for the quarter, compared to analysts' expectations of $863.11 million. During the same period in the prior year, the firm earned $2.20 earnings per share. The firm's quarterly revenue was up 6.4% on a year-over-year basis. On average, analysts anticipate that First Solar, Inc. will post 13.05 EPS for the current year.

Insider Activity

In related news, insider Patrick James Buehler sold 1,868 shares of the company's stock in a transaction 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 directly owns 5,998 shares of the company's stock, valued at approximately $894,181.84. This represents a 23.75% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Markus Gloeckler sold 9,557 shares of the company's stock in a transaction on 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 directly owns 8,037 shares of the company's stock, valued at approximately $1,246,136.85. This trade represents a 54.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 14,376 shares of company stock valued at $2,227,172 in the last ninety days. Company insiders own 0.48% of the company's stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on FSLR. Royal Bank Of Canada reduced their price target on shares of First Solar from $237.00 to $214.00 and set an "outperform" rating for the company in a research report on Wednesday, April 30th. JPMorgan Chase & Co. reduced their price target on shares of First Solar from $282.00 to $268.00 and set an "overweight" rating for the company in a research report on Wednesday, February 26th. Glj Research upgraded shares of First Solar from a "hold" rating to a "buy" rating and set a $172.37 price target for the company in a research report on Thursday, May 1st. 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. Finally, Wolfe Research upgraded First Solar from a "peer perform" rating to an "outperform" rating and set a $221.00 price objective for the company in a research report on Tuesday, May 13th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, twenty-five have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $229.19.

About First Solar

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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