SteelPeak Wealth LLC Has $1.39 Million Holdings in First Solar, Inc. (NASDAQ:FSLR)

SteelPeak Wealth LLC boosted its position in First Solar, Inc. (NASDAQ:FSLR - Free Report) by 81.0% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 11,020 shares of the solar cell manufacturer's stock after purchasing an additional 4,933 shares during the quarter. SteelPeak Wealth LLC's holdings in First Solar were worth $1,393,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in FSLR. Oppenheimer & Co. Inc. raised its holdings in First Solar by 396.5% in the first quarter. Oppenheimer & Co. Inc. now owns 11,777 shares of the solar cell manufacturer's stock valued at $1,489,000 after buying an additional 9,405 shares during the period. Asset Management One Co. Ltd. lifted its holdings in shares of First Solar by 7.1% during the 1st quarter. Asset Management One Co. Ltd. now owns 48,722 shares of the solar cell manufacturer's stock valued at $6,160,000 after acquiring an additional 3,226 shares in the last quarter. Vontobel Holding Ltd. boosted its position in First Solar by 14.2% during the 1st quarter. Vontobel Holding Ltd. now owns 189,320 shares of the solar cell manufacturer's stock worth $23,936,000 after purchasing an additional 23,528 shares during the period. Oakworth Capital Inc. increased its holdings in First Solar by 24.7% in the 1st quarter. Oakworth Capital Inc. now owns 9,682 shares of the solar cell manufacturer's stock valued at $1,224,000 after purchasing an additional 1,916 shares in the last quarter. Finally, Ethic Inc. raised its position in First Solar by 34.2% in the fourth quarter. Ethic Inc. now owns 17,807 shares of the solar cell manufacturer's stock valued at $3,138,000 after purchasing an additional 4,542 shares during the period. 92.08% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, CTO Markus Gloeckler sold 9,557 shares of the firm's stock in a transaction dated Wednesday, May 28th. The stock was sold at an average price of $155.05, for a total transaction of $1,481,812.85. Following the completion of the transaction, the chief technology officer owned 8,037 shares of the company's stock, valued at $1,246,136.85. This trade represents a 54.32% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Patrick James Buehler sold 1,868 shares of the company's stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $149.08, for a total transaction of $278,481.44. Following the completion of the sale, the insider directly owned 5,998 shares of the company's stock, valued at $894,181.84. The trade was a 23.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 15,976 shares of company stock worth $2,515,172. 0.48% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages recently commented on FSLR. BMO Capital Markets dropped their target price on First Solar from $200.00 to $187.00 and set an "outperform" rating on the stock in a report on Wednesday, April 30th. Bank of America dropped their price target on shares of First Solar from $236.00 to $215.00 and set a "buy" rating on the stock in a research note on Tuesday, April 8th. Truist Financial reiterated a "buy" rating and issued a $200.00 price target (down previously from $245.00) on shares of First Solar in a research note on Thursday, May 1st. Morgan Stanley set a $223.00 price target on First Solar and gave the company an "overweight" rating in a report on Wednesday, April 23rd. Finally, Wells Fargo & Company reduced their target price 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. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating, twenty-four have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $228.69.

First Solar Stock Performance

First Solar stock traded down $2.65 during mid-day trading on Friday, hitting $162.44. 2,136,077 shares of the company's stock traded hands, compared to its average volume of 3,259,446. First Solar, Inc. has a one year low of $116.56 and a one year high of $262.72. The company has a market cap of $17.42 billion, a PE ratio of 13.81, a price-to-earnings-growth ratio of 0.33 and a beta of 1.52. The firm has a 50 day moving average price of $160.16 and a 200 day moving average price of $154.29. 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 (NASDAQ:FSLR - Get Free Report) last posted its quarterly earnings data on Tuesday, April 29th. The solar cell manufacturer reported $1.95 earnings per share for the quarter, missing the consensus estimate of $2.50 by ($0.55). The company had revenue of $844.57 million during the quarter, compared to analyst estimates of $863.11 million. First Solar had a return on equity of 16.32% and a net margin of 29.72%. The business's revenue for the quarter was up 6.4% compared to the same quarter last year. During the same period in the previous year, the company earned $2.20 EPS. On average, equities analysts forecast that First Solar, Inc. will post 13.05 EPS for the current year.

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.