Y.D. More Investments Ltd Has $1.02 Million Stake in First Solar, Inc. (NASDAQ:FSLR)

Key Points

• Y.D. More Investments Ltd increased its stake in First Solar, Inc. by 383.6% during the first quarter, owning 8,101 shares valued at approximately $1.02 million at the end of the period.
• Institutional investors collectively own 92.08% of First Solar's stock, indicating strong institutional interest in the company.
• Several analysts have raised First Solar's price target, with Goldman Sachs increasing it to $255.00 and Royal Bank of Canada to $200.00, reflecting positive sentiment towards the company's future growth.

Y.D. More Investments Ltd boosted its stake in shares of First Solar, Inc. (NASDAQ:FSLR - Free Report) by 383.6% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,101 shares of the solar cell manufacturer's stock after purchasing an additional 6,426 shares during the quarter. Y.D. More Investments Ltd's holdings in First Solar were worth $1,024,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in FSLR. Garde Capital Inc. acquired a new position in First Solar in the 1st quarter valued at $25,000. Larson Financial Group LLC boosted its holdings in First Solar by 591.9% during the first quarter. Larson Financial Group LLC now owns 256 shares of the solar cell manufacturer's stock valued at $32,000 after acquiring an additional 219 shares during the period. Abound Financial LLC acquired a new stake in shares of First Solar in the first quarter valued at about $45,000. Princeton Global Asset Management LLC bought a new position in shares of First Solar in the first quarter worth about $51,000. Finally, Banque Transatlantique SA acquired a new position in shares of First Solar during the 4th quarter worth about $53,000. Institutional investors and hedge funds own 92.08% of the company's stock.

Insider Buying and Selling at First Solar

In related news, insider Patrick James Buehler sold 1,600 shares of the company's stock in a transaction that occurred on Thursday, July 3rd. The stock was sold at an average price of $180.00, for a total value of $288,000.00. Following the sale, the insider owned 4,398 shares in the company, valued at $791,640. This represents a 26.68% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CTO Markus Gloeckler sold 9,557 shares of the company's stock in a transaction dated Wednesday, May 28th. The stock was sold at an average price of $155.05, for a total value of $1,481,812.85. Following the completion of the sale, the chief technology officer owned 8,037 shares in the company, valued at $1,246,136.85. The trade was a 54.32% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 15,976 shares of company stock valued at $2,515,172. Company insiders own 0.48% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Royal Bank Of Canada lifted their price target on First Solar from $188.00 to $200.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 1st. The Goldman Sachs Group boosted their target price on shares of 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 reissued a "buy" rating and issued a $200.00 price target (down from $245.00) on shares of First Solar in a report on Thursday, May 1st. Wells Fargo & Company dropped their price objective on shares of First Solar from $191.00 to $177.00 and set an "overweight" rating on the stock in a report on Wednesday, April 30th. Finally, Morgan Stanley set a $223.00 target price on shares of First Solar and gave the company an "overweight" rating in a research note on Wednesday, April 23rd. One research analyst has rated the stock with a sell rating, five have given a hold rating, twenty-three have given a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, First Solar has an average rating of "Moderate Buy" and a consensus price target of $222.67.

First Solar Trading Down 1.0%

FSLR opened at $185.01 on Thursday. The firm has a market capitalization of $19.84 billion, a price-to-earnings ratio of 15.83, a PEG ratio of 0.37 and a beta of 1.48. The company's 50 day moving average price is $167.51 and its two-hundred day moving average price is $153.29. 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, Inc. has a fifty-two week low of $116.56 and a fifty-two week high of $262.72.

First Solar (NASDAQ:FSLR - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The solar cell manufacturer reported $3.18 EPS for the quarter, topping analysts' consensus estimates of $2.68 by $0.50. First Solar had a return on equity of 15.57% and a net margin of 28.95%. The firm had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.03 billion. During the same period last year, the company earned $3.25 earnings per share. The business's revenue for the quarter was up 8.6% on a year-over-year basis. As a group, research analysts predict that First Solar, Inc. will post 13.05 earnings per share 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.

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