Pictet Asset Management Holding SA Buys 44,491 Shares of First Solar, Inc. $FSLR

Key Points

• Pictet Asset Management increased its stake in First Solar by 5.3% in Q4, buying 44,491 shares to hold 880,269 shares (about 0.82% of the company) valued at roughly $229.98 million.
• Insiders have been selling: CFO Alexander R. Bradley sold 14,106 shares at an average of $199.97 (cutting his position ~32%), and company insiders have sold 76,562 shares worth $15.04 million in the past 90 days.
• Analyst view and valuation: The consensus rating is "Moderate Buy" (19 Buys, 13 Holds, 2 Sells) with a consensus target price of $244.49, while FSLR is trading around $193.76 with a 52-week range of $119.09–$285.99.

Pictet Asset Management Holding SA grew its stake in First Solar, Inc. (NASDAQ:FSLR - Free Report) by 5.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 880,269 shares of the solar cell manufacturer's stock after acquiring an additional 44,491 shares during the period. Pictet Asset Management Holding SA owned 0.82% of First Solar worth $229,978,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Linden Thomas Advisory Services LLC raised its holdings in First Solar by 1.7% during the third quarter. Linden Thomas Advisory Services LLC now owns 2,287 shares of the solar cell manufacturer's stock worth $504,000 after acquiring an additional 39 shares in the last quarter. Apollon Wealth Management LLC raised its holdings in First Solar by 1.2% during the fourth quarter. Apollon Wealth Management LLC now owns 3,606 shares of the solar cell manufacturer's stock worth $942,000 after acquiring an additional 44 shares in the last quarter. Signaturefd LLC raised its holdings in First Solar by 2.6% during the third quarter. Signaturefd LLC now owns 1,879 shares of the solar cell manufacturer's stock worth $414,000 after acquiring an additional 47 shares in the last quarter. Figure 8 Investment Strategies LLC raised its holdings in First Solar by 0.6% during the third quarter. Figure 8 Investment Strategies LLC now owns 8,116 shares of the solar cell manufacturer's stock worth $1,790,000 after acquiring an additional 48 shares in the last quarter. Finally, Cromwell Holdings LLC raised its holdings in First Solar by 15.8% during the fourth quarter. Cromwell Holdings LLC now owns 367 shares of the solar cell manufacturer's stock worth $96,000 after acquiring an additional 50 shares in the last quarter. Institutional investors own 92.08% of the company's stock.

Insiders Place Their Bets

In related news, CFO Alexander R. Bradley sold 14,106 shares of the company's stock in a transaction dated Tuesday, March 17th. The shares were sold at an average price of $199.97, for a total value of $2,820,776.82. Following the transaction, the chief financial officer owned 30,000 shares in the company, valued at approximately $5,999,100. This represents a 31.98% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Kuntal Kumar Verma sold 3,426 shares of the company's stock in a transaction dated Tuesday, March 3rd. The shares were sold at an average price of $195.93, for a total transaction of $671,256.18. Following the completion of the transaction, the insider owned 8,334 shares in the company, valued at approximately $1,632,880.62. This trade represents a 29.13% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 76,562 shares of company stock worth $15,042,232 in the last 90 days. Corporate insiders own 0.39% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Jefferies Financial Group dropped their target price on First Solar from $205.00 to $187.00 and set a "hold" rating on the stock in a report on Tuesday, April 7th. Guggenheim lowered their price objective on shares of First Solar from $312.00 to $269.00 and set a "buy" rating on the stock in a research note on Tuesday, March 17th. Needham & Company LLC boosted their price objective on shares of First Solar from $286.00 to $303.00 and gave the stock a "buy" rating in a research note on Monday, February 23rd. Raymond James Financial began coverage on shares of First Solar in a research note on Monday, January 12th. They set a "market perform" rating on the stock. Finally, Freedom Capital lowered shares of First Solar from a "strong-buy" rating to a "hold" rating in a research note on Thursday, February 26th. Nineteen analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $244.49.

First Solar Price Performance

Shares of FSLR opened at $193.76 on Monday. First Solar, Inc. has a 52 week low of $119.09 and a 52 week high of $285.99. The firm has a market cap of $20.82 billion, a P/E ratio of 13.64, a price-to-earnings-growth ratio of 0.44 and a beta of 1.61. The firm's 50-day simple moving average is $201.22 and its 200 day simple moving average is $232.73. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.35 and a current ratio of 2.67.

First Solar (NASDAQ:FSLR - Get Free Report) last announced its quarterly earnings results on Tuesday, February 24th. The solar cell manufacturer reported $4.84 EPS for the quarter, missing analysts' consensus estimates of $5.22 by ($0.38). First Solar had a net margin of 29.28% and a return on equity of 17.32%. The company had revenue of $1.68 billion during the quarter, compared to analyst estimates of $1.59 billion. During the same quarter last year, the company posted $3.65 EPS. The firm's quarterly revenue was up 11.1% on a year-over-year basis. On average, analysts forecast that First Solar, Inc. will post 17.37 earnings per share for the current year.

About First Solar

First Solar, Inc NASDAQ: FSLR is a United States–based solar technology company best known for designing and manufacturing thin‑film photovoltaic (PV) modules that use cadmium telluride (CdTe) semiconductor technology. The company supplies PV modules and delivers integrated solar power solutions for utility‑scale projects, positioning itself as a provider of both components and complete solar energy systems rather than solely a parts supplier. First Solar was founded in 1999 and is headquartered in Tempe, Arizona.

Beyond module manufacturing, First Solar offers a range of project services including development support, engineering, procurement and construction (EPC) services, and operations and maintenance (O&M) for large-scale solar installations.

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