Mitsubishi UFJ Asset Management Co. Ltd. Acquires 37,674 Shares of First Solar, Inc. (NASDAQ:FSLR)

Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in shares of First Solar, Inc. (NASDAQ:FSLR - Free Report) by 23.4% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 198,397 shares of the solar cell manufacturer's stock after purchasing an additional 37,674 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned about 0.18% of First Solar worth $25,083,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in FSLR. Garde Capital Inc. bought a new stake in First Solar during the 1st quarter worth about $25,000. Larson Financial Group LLC increased its stake in shares of First Solar by 591.9% in the 1st quarter. Larson Financial Group LLC now owns 256 shares of the solar cell manufacturer's stock valued at $32,000 after acquiring an additional 219 shares during the last quarter. Abound Financial LLC bought a new stake in shares of First Solar in the 1st quarter valued at about $45,000. Princeton Global Asset Management LLC bought a new stake in shares of First Solar in the 1st quarter valued at about $51,000. Finally, Banque Transatlantique SA bought a new stake in shares of First Solar in the 4th quarter valued at about $53,000. 92.08% of the stock is owned by institutional investors.

Insider Activity at First Solar

In related news, 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 sale, the chief technology officer owned 8,037 shares in the company, valued at approximately $1,246,136.85. This represents a 54.32% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Patrick James Buehler sold 1,600 shares of the stock in a transaction on Thursday, July 3rd. The shares were sold at an average price of $180.00, for a total value of $288,000.00. Following the completion of the sale, the insider owned 4,398 shares in the company, valued at approximately $791,640. This trade represents a 26.68% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 15,976 shares of company stock worth $2,515,172. Company insiders own 0.48% of the company's stock.

First Solar Stock Up 1.4%

Shares of NASDAQ FSLR traded up $2.60 during trading hours on Tuesday, hitting $184.73. The company had a trading volume of 2,018,169 shares, compared to its average volume of 2,577,721. The stock has a market capitalization of $19.81 billion, a P/E ratio of 15.80, a price-to-earnings-growth ratio of 0.36 and a beta of 1.48. The company has a quick ratio of 1.41, a current ratio of 1.90 and a debt-to-equity ratio of 0.04. First Solar, Inc. has a 1-year low of $116.56 and a 1-year high of $262.72. The firm's 50 day moving average is $169.76 and its 200-day moving average is $153.29.

First Solar (NASDAQ:FSLR - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The solar cell manufacturer reported $3.18 EPS for the quarter, beating the consensus estimate of $2.68 by $0.50. The company had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.03 billion. First Solar had a return on equity of 15.57% and a net margin of 28.95%. The firm's revenue for the quarter was up 8.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.25 EPS. On average, analysts expect that First Solar, Inc. will post 13.05 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have recently commented on FSLR. Wells Fargo & Company lowered their price target on First Solar from $191.00 to $177.00 and set an "overweight" rating for the company in a research note on Wednesday, April 30th. Hsbc Global Res raised First Solar to a "strong-buy" rating in a research note on Friday, August 1st. BMO Capital Markets upped their price target on First Solar from $194.00 to $203.00 and gave the company an "outperform" rating in a research note on Friday, August 1st. Wolfe Research raised First Solar from a "peer perform" rating to an "outperform" rating and set a $221.00 price target for the company in a research note on Tuesday, May 13th. Finally, Wall Street Zen raised First Solar from a "sell" rating to a "hold" rating in a research note on Saturday, August 2nd. One research analyst has rated the stock with a sell rating, five have given a hold rating, twenty-three have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $224.27.

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.