Trillium Asset Management LLC Acquires 8,409 Shares of First Solar, Inc. (NASDAQ:FSLR)

Key Points

• Trillium Asset Management LLC increased its stake in First Solar, Inc. by 4.9%, acquiring an additional 8,409 shares, bringing their total ownership to 180,255 shares valued at approximately $22.79 million.
• First Solar reported $3.18 EPS for the last quarter, exceeding consensus estimates, with revenue reaching $1.10 billion, up 8.6% year-over-year.
• Institutional investors now hold 92.08% of First Solar's shares, indicating robust institutional interest in the solar cell manufacturer.

Trillium Asset Management LLC raised its holdings in First Solar, Inc. (NASDAQ:FSLR - Free Report) by 4.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 180,255 shares of the solar cell manufacturer's stock after buying an additional 8,409 shares during the quarter. Trillium Asset Management LLC owned 0.17% of First Solar worth $22,789,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in First Solar by 0.7% in the 1st quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 11,348 shares of the solar cell manufacturer's stock valued at $1,435,000 after buying an additional 82 shares during the period. Linden Thomas Advisory Services LLC increased its holdings in First Solar by 4.3% in the 1st quarter. Linden Thomas Advisory Services LLC now owns 2,243 shares of the solar cell manufacturer's stock valued at $284,000 after buying an additional 92 shares during the period. EP Wealth Advisors LLC increased its holdings in First Solar by 7.9% in the 4th quarter. EP Wealth Advisors LLC now owns 1,293 shares of the solar cell manufacturer's stock valued at $228,000 after buying an additional 95 shares during the period. Signaturefd LLC grew its holdings in shares of First Solar by 11.6% in the 1st quarter. Signaturefd LLC now owns 985 shares of the solar cell manufacturer's stock worth $125,000 after purchasing an additional 102 shares during the last quarter. Finally, Covestor Ltd grew its holdings in shares of First Solar by 10.4% in the 1st quarter. Covestor Ltd now owns 1,096 shares of the solar cell manufacturer's stock worth $139,000 after purchasing an additional 103 shares during the last quarter. Institutional investors own 92.08% of the company's stock.

First Solar Stock Performance

Shares of NASDAQ:FSLR opened at $182.13 on Tuesday. The firm's 50 day simple moving average is $169.26 and its 200 day simple moving average is $153.07. First Solar, Inc. has a fifty-two week low of $116.56 and a fifty-two week high of $262.72. The company has a market capitalization of $19.53 billion, a price-to-earnings ratio of 15.58, a P/E/G ratio of 0.36 and a beta of 1.48. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.90 and a quick ratio of 1.41.

First Solar (NASDAQ:FSLR - Get Free Report) last issued its earnings results 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 firm had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.03 billion. First Solar had a net margin of 28.95% and a return on equity of 15.57%. The business's quarterly revenue was up 8.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.25 earnings per share. As a group, sell-side analysts forecast that First Solar, Inc. will post 13.05 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. Piper Sandler lowered their target price on shares of First Solar from $230.00 to $205.00 and set an "overweight" rating on the stock in a report on Monday, April 21st. Robert W. Baird lowered their target price on shares of First Solar from $267.00 to $240.00 and set an "outperform" rating on the stock in a report on Tuesday, April 15th. Glj Research raised shares of First Solar from a "hold" rating to a "buy" rating and set a $172.37 target price on the stock in a report on Thursday, May 1st. Wall Street Zen raised shares of First Solar from a "sell" rating to a "hold" rating in a report on Saturday, August 2nd. Finally, Mizuho upped their target price on shares of First Solar from $275.00 to $278.00 and gave the stock an "outperform" rating in a report on Monday, July 14th. One analyst has rated the stock with a sell rating, five have issued a hold rating, twenty-three have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $222.67.

Insiders Place Their Bets

In other First Solar news, CTO Markus Gloeckler sold 9,557 shares of the stock in a transaction on Wednesday, May 28th. The shares were sold at an average price of $155.05, for a total value of $1,481,812.85. Following the sale, the chief technology officer directly owned 8,037 shares in the company, valued at approximately $1,246,136.85. This trade represents a 54.32% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Michael Koralewski sold 2,951 shares of the 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 completion of the sale, the insider owned 11,369 shares in the company, valued at approximately $1,798,689.49. This trade represents a 20.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, 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 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.

Want to see what other hedge funds are holding FSLR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for First Solar, Inc. (NASDAQ:FSLR - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.