Secure Asset Management LLC Buys 9,715 Shares of First Solar, Inc. (NASDAQ:FSLR)

Secure Asset Management LLC increased its position in shares of First Solar, Inc. (NASDAQ:FSLR - Free Report) by 145.3% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 16,402 shares of the solar cell manufacturer's stock after buying an additional 9,715 shares during the quarter. Secure Asset Management LLC's holdings in First Solar were worth $2,074,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Janney Montgomery Scott LLC grew its holdings in First Solar by 125.0% in the 4th quarter. Janney Montgomery Scott LLC now owns 6,513 shares of the solar cell manufacturer's stock valued at $1,148,000 after buying an additional 3,618 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. increased its position in First Solar by 5.1% during the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 3,283 shares of the solar cell manufacturer's stock worth $579,000 after buying an additional 158 shares during the period. U.S. Capital Wealth Advisors LLC increased its position in First Solar by 11.8% during the 4th quarter. U.S. Capital Wealth Advisors LLC now owns 8,355 shares of the solar cell manufacturer's stock worth $1,472,000 after buying an additional 883 shares during the period. Tempus Wealth Planning LLC bought a new position in First Solar during the 4th quarter worth $280,000. Finally, E. Ohman J or Asset Management AB increased its position in First Solar by 124.9% during the 4th quarter. E. Ohman J or Asset Management AB now owns 157,216 shares of the solar cell manufacturer's stock worth $27,708,000 after buying an additional 87,316 shares during the period. 92.08% of the stock is currently owned by institutional investors.

First Solar Stock Up 2.5%

Shares of NASDAQ:FSLR traded up $4.03 during mid-day trading on Thursday, hitting $163.84. 3,602,557 shares of the company traded hands, compared to its average volume of 3,065,582. The stock has a 50-day moving average price of $142.44 and a two-hundred day moving average price of $160.01. The stock has a market cap of $17.57 billion, a P/E ratio of 14.11, a P/E/G ratio of 0.19 and a beta of 1.46. First Solar, Inc. has a 12-month low of $116.56 and a 12-month high of $306.77. The company has a current ratio of 2.14, a quick ratio of 1.44 and a debt-to-equity ratio of 0.05.

First Solar (NASDAQ:FSLR - Get Free Report) last issued its quarterly earnings results 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). The business had revenue of $844.57 million for the quarter, compared to the consensus estimate of $863.11 million. First Solar had a return on equity of 17.56% and a net margin of 32.41%. The business's revenue was up 6.4% compared to the same quarter last year. During the same quarter last year, the business posted $2.20 earnings per share. On average, equities research analysts forecast that First Solar, Inc. will post 13.05 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Michael Koralewski sold 2,951 shares of the business's stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $158.21, for a total transaction of $466,877.71. Following the sale, the insider now directly owns 11,369 shares in the company, valued at approximately $1,798,689.49. The trade was a 20.61% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Alexander R. Bradley sold 599 shares of the business's stock in a transaction on Monday, March 17th. The shares were sold at an average price of $133.75, for a total value of $80,116.25. Following the sale, the chief financial officer now owns 45,717 shares in the company, valued at approximately $6,114,648.75. The trade was a 1.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 19,670 shares of company stock worth $2,933,884. 0.48% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research firms have recently weighed in on FSLR. Wall Street Zen downgraded First Solar from a "hold" rating to a "sell" rating in a research report on Friday, May 2nd. The Goldman Sachs Group upped their price objective on First Solar from $204.00 to $255.00 and gave the stock a "buy" rating in a research report on Monday, May 19th. Truist Financial reiterated a "buy" rating and issued a $200.00 target price (down from $245.00) on shares of First Solar in a research report on Thursday, May 1st. Oppenheimer downgraded First Solar from an "outperform" rating to a "market perform" rating in a research report on Wednesday, April 30th. Finally, Robert W. Baird dropped their target price on First Solar from $267.00 to $240.00 and set an "outperform" rating for the company in a research report on Tuesday, April 15th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating, twenty-four have assigned 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 a consensus target price of $227.94.

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.