Oakworth Capital Inc. Purchases 1,916 Shares of First Solar, Inc. (NASDAQ:FSLR)

Oakworth Capital Inc. boosted its position in First Solar, Inc. (NASDAQ:FSLR - Free Report) by 24.7% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 9,682 shares of the solar cell manufacturer's stock after acquiring an additional 1,916 shares during the period. Oakworth Capital Inc.'s holdings in First Solar were worth $1,224,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Norges Bank purchased a new stake in shares of First Solar during the fourth quarter worth $317,399,000. Demars Financial Group LLC increased its holdings in First Solar by 17,404.5% during the 4th quarter. Demars Financial Group LLC now owns 722,760 shares of the solar cell manufacturer's stock worth $127,379,000 after acquiring an additional 718,631 shares during the period. Mirova US LLC lifted its stake in First Solar by 961.0% in the 4th quarter. Mirova US LLC now owns 646,310 shares of the solar cell manufacturer's stock worth $113,906,000 after purchasing an additional 585,394 shares in the last quarter. Amundi boosted its holdings in First Solar by 31.0% in the 4th quarter. Amundi now owns 1,805,244 shares of the solar cell manufacturer's stock valued at $336,871,000 after purchasing an additional 426,797 shares during the period. Finally, Royal Bank of Canada grew its position in shares of First Solar by 218.6% during the 4th quarter. Royal Bank of Canada now owns 446,799 shares of the solar cell manufacturer's stock valued at $78,744,000 after purchasing an additional 306,581 shares in the last quarter. 92.08% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Susquehanna dropped their price objective on First Solar from $223.00 to $217.00 and set a "positive" rating for the company in a research note on Monday, April 14th. Royal Bank Of Canada lowered their price target on First Solar from $237.00 to $214.00 and set an "outperform" rating on the stock in a report on Wednesday, April 30th. BMO Capital Markets cut their price objective on First Solar from $200.00 to $187.00 and set an "outperform" rating for the company in a report on Wednesday, April 30th. Mizuho boosted their price target 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, Deutsche Bank Aktiengesellschaft set a $265.00 price target on First Solar in a research report on Thursday, February 27th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, twenty-five have given a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $229.19.

Insider Activity

In other news, insider Michael Koralewski sold 2,951 shares of First Solar stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $158.21, for a total value of $466,877.71. Following the completion of the transaction, the insider now owns 11,369 shares of the company's stock, valued at $1,798,689.49. The trade was a 20.61% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO Markus Gloeckler sold 9,557 shares of the stock in a transaction dated 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 sale, the chief technology officer now directly owns 8,037 shares in the company, valued at $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. Over the last ninety days, insiders sold 14,376 shares of company stock worth $2,227,172. Insiders own 0.48% of the company's stock.

First Solar Price Performance

Shares of FSLR stock opened at $155.63 on Friday. The business's fifty day moving average is $152.12 and its 200 day moving average is $155.91. 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 stock has a market cap of $16.69 billion, a price-to-earnings ratio of 13.23, a PEG ratio of 0.31 and a beta of 1.53. First Solar, Inc. has a twelve month low of $116.56 and a twelve month high of $262.72.

First Solar (NASDAQ:FSLR - Get Free Report) last issued its quarterly earnings results 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 return on equity of 16.32% and a net margin of 29.72%. The business had revenue of $844.57 million during the quarter, compared to the consensus estimate of $863.11 million. During the same quarter in the previous year, the business earned $2.20 earnings per share. The firm's revenue was up 6.4% compared to the same quarter last year. Research analysts expect that First Solar, Inc. will post 13.05 EPS for the current fiscal year.

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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