First Solar, Inc. (NASDAQ:FSLR) Shares Purchased by Viking Fund Management LLC

Viking Fund Management LLC lifted its holdings in First Solar, Inc. (NASDAQ:FSLR - Free Report) by 23.5% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 21,000 shares of the solar cell manufacturer's stock after purchasing an additional 4,000 shares during the period. Viking Fund Management LLC's holdings in First Solar were worth $2,655,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Allspring Global Investments Holdings LLC lifted its position in shares of First Solar by 665.8% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 39,192 shares of the solar cell manufacturer's stock valued at $7,308,000 after buying an additional 34,074 shares during the last quarter. Paragon Capital Management Inc. bought a new position in shares of First Solar during the 4th quarter worth approximately $1,240,000. Golden State Equity Partners lifted its position in First Solar by 41,342.9% during the fourth quarter. Golden State Equity Partners now owns 2,901 shares of the solar cell manufacturer's stock valued at $511,000 after acquiring an additional 2,894 shares during the last quarter. RWC Asset Management LLP acquired a new stake in First Solar in the fourth quarter valued at approximately $16,745,000. Finally, Bank of New York Mellon Corp grew its holdings in First Solar by 9.9% in the fourth quarter. Bank of New York Mellon Corp now owns 711,688 shares of the solar cell manufacturer's stock worth $125,428,000 after purchasing an additional 63,820 shares during the last quarter. Hedge funds and other institutional investors own 92.08% of the company's stock.

Insider Buying and Selling

In other First Solar news, insider Kuntal Kumar Verma sold 419 shares of the business's stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $132.96, for a total transaction of $55,710.24. Following the completion of the sale, the insider now directly owns 4,695 shares in the company, valued at approximately $624,247.20. The trade was a 8.19% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Alexander R. Bradley sold 599 shares of the stock in a transaction that occurred 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 transaction, the chief financial officer now directly owns 45,717 shares of the company's stock, valued at $6,114,648.75. The trade was a 1.29% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 19,670 shares of company stock valued at $2,933,884. 0.48% of the stock is owned by corporate insiders.

First Solar Price Performance

Shares of FSLR stock traded up $4.03 during mid-day trading on Thursday, hitting $163.84. 3,588,944 shares of the stock were exchanged, compared to its average volume of 3,064,917. The company has a quick ratio of 1.44, a current ratio of 2.14 and a debt-to-equity ratio of 0.05. First Solar, Inc. has a 52-week low of $116.56 and a 52-week high of $306.77. The firm has a fifty day moving average of $142.44 and a 200 day moving average of $160.01. The company has a market cap of $17.57 billion, a PE ratio of 14.11, a price-to-earnings-growth ratio of 0.19 and a beta of 1.46.

First Solar (NASDAQ:FSLR - Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The solar cell manufacturer reported $1.95 EPS for the quarter, missing the consensus estimate of $2.50 by ($0.55). The business had revenue of $844.57 million during the quarter, compared to analyst estimates of $863.11 million. First Solar had a net margin of 32.41% and a return on equity of 17.56%. The firm's revenue for the quarter was up 6.4% on a year-over-year basis. During the same period in the previous year, the business posted $2.20 earnings per share. Research analysts anticipate that First Solar, Inc. will post 13.05 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts have recently commented on FSLR shares. Susquehanna decreased their price objective on First Solar from $223.00 to $217.00 and set a "positive" rating for the company in a report on Monday, April 14th. Bank of America reduced their target price on First Solar from $236.00 to $215.00 and set a "buy" rating on the stock in a research report on Tuesday, April 8th. Barclays lowered their price target on First Solar from $236.00 to $204.00 and set an "overweight" rating for the company in a report on Friday, April 11th. Guggenheim dropped their price target on First Solar from $253.00 to $202.00 and set a "buy" rating on the stock in a research note on Thursday, May 1st. Finally, JPMorgan Chase & Co. decreased their price objective on shares of First Solar from $282.00 to $268.00 and set an "overweight" rating for the company in a research report on Wednesday, February 26th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating, twenty-four have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company 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.