First Solar, Inc. (NASDAQ:FSLR) Shares Acquired by Mader & Shannon Wealth Management Inc.

Mader & Shannon Wealth Management Inc. raised its holdings in shares of First Solar, Inc. (NASDAQ:FSLR - Free Report) by 38.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 19,858 shares of the solar cell manufacturer's stock after acquiring an additional 5,495 shares during the quarter. First Solar comprises approximately 1.4% of Mader & Shannon Wealth Management Inc.'s portfolio, making the stock its 14th biggest holding. Mader & Shannon Wealth Management Inc.'s holdings in First Solar were worth $2,511,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of FSLR. Montag A & Associates Inc. increased its position in shares of First Solar by 30.5% in the first quarter. Montag A & Associates Inc. now owns 620 shares of the solar cell manufacturer's stock worth $78,000 after purchasing an additional 145 shares during the last quarter. South Dakota Investment Council increased its position in shares of First Solar by 59.9% in the first quarter. South Dakota Investment Council now owns 93,407 shares of the solar cell manufacturer's stock worth $11,809,000 after purchasing an additional 35,006 shares during the last quarter. Kestra Private Wealth Services LLC bought a new position in shares of First Solar in the first quarter worth approximately $202,000. Jennison Associates LLC increased its position in shares of First Solar by 5.2% in the first quarter. Jennison Associates LLC now owns 49,756 shares of the solar cell manufacturer's stock worth $6,291,000 after purchasing an additional 2,478 shares during the last quarter. Finally, Saturna Capital Corp grew its position in First Solar by 15.3% during the first quarter. Saturna Capital Corp now owns 6,113 shares of the solar cell manufacturer's stock valued at $773,000 after acquiring an additional 809 shares during the last quarter. Institutional investors own 92.08% of the company's stock.

Insiders Place Their Bets

In other First Solar news, insider Michael Koralewski sold 2,951 shares of the stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $158.21, for a total value of $466,877.71. Following the sale, the insider owned 11,369 shares in the company, 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 at this hyperlink. Also, CTO Markus Gloeckler sold 9,557 shares of the stock in a transaction on Wednesday, May 28th. The stock was sold at an average price of $155.05, for a total value of $1,481,812.85. Following the completion of the sale, the chief technology officer owned 8,037 shares in the company, valued at approximately $1,246,136.85. The trade was a 54.32% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 15,976 shares of company stock worth $2,515,172 over the last quarter. Company insiders own 0.48% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on FSLR. Piper Sandler reduced their price target on shares of First Solar from $230.00 to $205.00 and set an "overweight" rating on the stock in a research report on Monday, April 21st. Wall Street Zen cut shares of First Solar from a "hold" rating to a "sell" rating in a report on Friday, May 2nd. Oppenheimer cut shares of First Solar from an "outperform" rating to a "market perform" rating in a report on Wednesday, April 30th. JPMorgan Chase & Co. raised their price target on First Solar from $200.00 to $208.00 and gave the stock an "overweight" rating in a research note on Tuesday. Finally, KeyCorp lowered First Solar from a "sector weight" rating to an "underweight" rating and set a $100.00 price target for the company. in a research note on Wednesday, April 30th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, twenty-four have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, First Solar currently has a consensus rating of "Moderate Buy" and an average price target of $225.73.

First Solar Price Performance

FSLR stock traded up $1.66 during midday trading on Tuesday, hitting $179.99. The company's stock had a trading volume of 1,943,397 shares, compared to its average volume of 3,249,330. First Solar, Inc. has a 12 month low of $116.56 and a 12 month high of $262.72. The company has a quick ratio of 1.39, a current ratio of 1.93 and a debt-to-equity ratio of 0.04. The firm has a market capitalization of $19.30 billion, a price-to-earnings ratio of 15.31, a price-to-earnings-growth ratio of 0.34 and a beta of 1.52. The company has a 50 day moving average of $163.98 and a two-hundred day moving average of $153.50.

First Solar (NASDAQ:FSLR - Get Free Report) last posted its quarterly earnings results 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). The business had revenue of $844.57 million during 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 revenue for the quarter was up 6.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.20 earnings per share. On average, analysts expect that First Solar, Inc. will post 13.05 EPS 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.