First Solar, Inc. (NASDAQ:FSLR) Stake Boosted by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of First Solar, Inc. (NASDAQ:FSLR - Free Report) by 26.0% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 42,367 shares of the solar cell manufacturer's stock after buying an additional 8,738 shares during the quarter. Mirae Asset Global Investments Co. Ltd.'s holdings in First Solar were worth $5,394,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Oppenheimer & Co. Inc. increased its stake in First Solar by 396.5% in the 1st quarter. Oppenheimer & Co. Inc. now owns 11,777 shares of the solar cell manufacturer's stock worth $1,489,000 after buying an additional 9,405 shares during the period. Asset Management One Co. Ltd. boosted its holdings in shares of First Solar by 7.1% in the first quarter. Asset Management One Co. Ltd. now owns 48,722 shares of the solar cell manufacturer's stock valued at $6,160,000 after purchasing an additional 3,226 shares during the period. Oakworth Capital Inc. increased its holdings in First Solar by 24.7% during the 1st quarter. Oakworth Capital Inc. now owns 9,682 shares of the solar cell manufacturer's stock worth $1,224,000 after purchasing an additional 1,916 shares during the period. Ethic Inc. lifted its holdings in shares of First Solar by 34.2% in the 4th quarter. Ethic Inc. now owns 17,807 shares of the solar cell manufacturer's stock worth $3,138,000 after buying an additional 4,542 shares during the period. Finally, Mirova US LLC grew its position in shares of First Solar by 961.0% during the 4th quarter. Mirova US LLC now owns 646,310 shares of the solar cell manufacturer's stock worth $113,906,000 after buying an additional 585,394 shares in the last quarter. 92.08% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have issued reports on FSLR shares. Royal Bank Of Canada increased their target price on shares of First Solar from $188.00 to $200.00 and gave the stock an "outperform" rating in a report on Tuesday. Barclays dropped their target price on First Solar from $236.00 to $204.00 and set an "overweight" rating on the stock in a research report on Friday, April 11th. Bank of America cut their price target on First Solar from $236.00 to $215.00 and set a "buy" rating on the stock in a report on Tuesday, April 8th. Guggenheim decreased their price target on shares of First Solar from $253.00 to $202.00 and set a "buy" rating for the company 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 target price on the stock in a research note on Thursday, May 1st. 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 issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $228.69.

First Solar Price Performance

Shares of FSLR traded up $14.61 during mid-day trading on Thursday, reaching $185.13. 3,604,130 shares of the company's stock were exchanged, compared to its average volume of 3,226,870. 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, Inc. has a 52-week low of $116.56 and a 52-week high of $262.72. The company has a market cap of $19.85 billion, a price-to-earnings ratio of 15.76, a PEG ratio of 0.33 and a beta of 1.52. The company has a 50-day simple moving average of $154.81 and a two-hundred day simple moving average of $154.89.

First Solar (NASDAQ:FSLR - Get Free Report) last posted its quarterly earnings data on Tuesday, April 29th. The solar cell manufacturer reported $1.95 EPS for the quarter, missing analysts' consensus estimates 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 analyst estimates of $863.11 million. During the same period in the previous year, the business earned $2.20 EPS. The firm's revenue was up 6.4% on a year-over-year basis. On average, sell-side analysts predict that First Solar, Inc. will post 13.05 EPS for the current fiscal year.

Insider Buying and Selling at First Solar

In related news, CTO Markus Gloeckler sold 9,557 shares of the firm's stock in a transaction on Wednesday, May 28th. The shares were sold at an average price of $155.05, for a total transaction of $1,481,812.85. Following the completion of the sale, the chief technology officer directly owned 8,037 shares of the company's stock, valued at approximately $1,246,136.85. This trade represents a 54.32% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Patrick James Buehler sold 1,868 shares of First Solar stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $149.08, for a total value of $278,481.44. Following the sale, the insider owned 5,998 shares in the company, valued at $894,181.84. This represents a 23.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 14,376 shares of company stock worth $2,227,172 in the last quarter. 0.48% of the stock is owned by insiders.

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.