Lightrock Netherlands B.V. Purchases 57,219 Shares of First Solar, Inc. (NASDAQ:FSLR)

Lightrock Netherlands B.V. boosted its position in First Solar, Inc. (NASDAQ:FSLR - Free Report) by 117.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 105,861 shares of the solar cell manufacturer's stock after buying an additional 57,219 shares during the quarter. First Solar accounts for approximately 3.5% of Lightrock Netherlands B.V.'s holdings, making the stock its 6th biggest holding. Lightrock Netherlands B.V. owned about 0.10% of First Solar worth $13,406,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the company. SPX Gestao de Recursos Ltda acquired a new stake in shares of First Solar in the 4th quarter valued at about $2,644,000. Smartleaf Asset Management LLC raised its stake in shares of First Solar by 31.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 262 shares of the solar cell manufacturer's stock valued at $47,000 after purchasing an additional 63 shares in the last quarter. Jones Financial Companies Lllp raised its stake in shares of First Solar by 17.8% in the 4th quarter. Jones Financial Companies Lllp now owns 2,308 shares of the solar cell manufacturer's stock valued at $407,000 after purchasing an additional 348 shares in the last quarter. SBI Securities Co. Ltd. acquired a new stake in shares of First Solar in the 4th quarter valued at about $114,000. Finally, Mission Wealth Management LP raised its stake in shares of 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 purchasing an additional 390 shares in the last quarter. Institutional investors and hedge funds own 92.08% of the company's stock.

First Solar Trading Up 8.7%

First Solar stock opened at $185.43 on Friday. The firm has a 50 day simple moving average of $156.66 and a 200-day simple moving average of $154.83. 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 stock has a market capitalization of $19.89 billion, a PE ratio of 15.77, a price-to-earnings-growth ratio of 0.37 and a beta of 1.52. First Solar, Inc. has a 12-month low of $116.56 and a 12-month high of $262.72.

First Solar (NASDAQ:FSLR - Get Free Report) last issued its earnings results on Tuesday, April 29th. The solar cell manufacturer reported $1.95 earnings per share for the quarter, missing analysts' consensus estimates of $2.50 by ($0.55). The business had revenue of $844.57 million for the quarter, compared to the consensus estimate of $863.11 million. First Solar had a return on equity of 16.32% and a net margin of 29.72%. The company's quarterly revenue was up 6.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.20 earnings per share. As a group, equities research analysts expect that First Solar, Inc. will post 13.05 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. KeyCorp lowered shares of First Solar from a "sector weight" rating to an "underweight" rating and set a $100.00 target price on the stock. in a research note on Wednesday, April 30th. Wall Street Zen lowered shares of First Solar from a "hold" rating to a "sell" rating in a research note on Friday, May 2nd. Jefferies Financial Group upgraded shares of First Solar from a "hold" rating to a "buy" rating and increased their price objective for the stock from $157.00 to $192.00 in a research note on Wednesday, June 11th. Mizuho increased their price objective on shares of First Solar from $251.00 to $275.00 and gave the stock an "outperform" rating in a research note on Monday, June 2nd. Finally, Barclays dropped their price objective on shares of First Solar from $236.00 to $204.00 and set an "overweight" rating on the stock in a research note on Friday, April 11th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, twenty-four have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $228.69.

Insider Buying and Selling

In related 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 directly owned 5,998 shares in the company, valued at approximately $894,181.84. This trade represents a 23.75% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Michael Koralewski sold 2,951 shares of the firm's stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $158.21, for a total transaction of $466,877.71. Following the sale, the insider owned 11,369 shares of the company's stock, valued at $1,798,689.49. The trade was a 20.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 14,376 shares of company stock worth $2,227,172. Corporate insiders own 0.48% of the company's stock.

First Solar Company 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.

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