MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Raises Stock Position in First Solar, Inc. (NASDAQ:FSLR)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in First Solar, Inc. (NASDAQ:FSLR - Free Report) by 212.4% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 79,585 shares of the solar cell manufacturer's stock after buying an additional 54,109 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned approximately 0.07% of First Solar worth $14,027,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Whalen Wealth Management Inc. grew its stake in shares of First Solar by 47.0% in the 4th quarter. Whalen Wealth Management Inc. now owns 4,859 shares of the solar cell manufacturer's stock worth $856,000 after buying an additional 1,554 shares in the last quarter. Allspring Global Investments Holdings LLC grew its stake in shares of First Solar by 665.8% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 39,192 shares of the solar cell manufacturer's stock worth $7,308,000 after buying an additional 34,074 shares in the last quarter. Paragon Capital Management Inc. purchased a new position in shares of First Solar in the 4th quarter worth $1,240,000. Robeco Institutional Asset Management B.V. grew its stake in shares of First Solar by 9.0% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 595,267 shares of the solar cell manufacturer's stock worth $104,910,000 after buying an additional 49,074 shares in the last quarter. Finally, Golden State Equity Partners grew its stake in shares of First Solar by 41,342.9% in the 4th quarter. Golden State Equity Partners now owns 2,901 shares of the solar cell manufacturer's stock worth $511,000 after buying an additional 2,894 shares in the last quarter. Hedge funds and other institutional investors own 92.08% of the company's stock.

First Solar Trading Down 1.9%

FSLR traded down $3.14 on Wednesday, reaching $164.08. 1,803,208 shares of the company traded hands, compared to its average volume of 3,111,758. First Solar, Inc. has a one year low of $116.56 and a one year high of $306.77. The firm has a fifty day simple moving average of $136.24 and a two-hundred day simple moving average of $162.67. The company has a market cap of $17.60 billion, a P/E ratio of 14.16, a price-to-earnings-growth ratio of 0.19 and a beta of 1.46. 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 (NASDAQ:FSLR - Get Free Report) last posted its quarterly earnings results 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). First Solar had a net margin of 32.41% and a return on equity of 17.56%. The business had revenue of $844.57 million during the quarter, compared to the consensus estimate of $863.11 million. During the same quarter in the prior year, the firm posted $2.20 EPS. The company's revenue for the quarter was up 6.4% compared to the same quarter last year. As a group, equities research analysts expect that First Solar, Inc. will post 13.05 earnings per share for the current year.

Insider Activity

In other news, CTO Markus Gloeckler sold 380 shares of the business's stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $133.75, for a total value of $50,825.00. Following the completion of the sale, the chief technology officer now owns 17,594 shares in the company, valued at approximately $2,353,197.50. The trade was a 2.11% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Mark R. Widmar sold 21,542 shares of the business's stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $141.09, for a total transaction of $3,039,360.78. Following the completion of the sale, the chief executive officer now owns 103,403 shares of the company's stock, valued at approximately $14,589,129.27. This represents a 17.24% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 34,311 shares of company stock worth $4,767,158. 0.48% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages have commented on FSLR. Citigroup dropped their price objective on shares of First Solar from $254.00 to $236.00 and set a "neutral" rating for the company in a research note on Wednesday, February 26th. Deutsche Bank Aktiengesellschaft set a $265.00 price objective on shares of First Solar in a research note on Thursday, February 27th. KeyCorp cut shares of First Solar from a "sector weight" rating to an "underweight" rating and set a $100.00 price objective for the company. in a research note on Wednesday, April 30th. Royal Bank of Canada dropped their price objective on shares of First Solar from $237.00 to $214.00 and set an "outperform" rating for the company in a research note on Wednesday, April 30th. Finally, Bank of America lowered their target price on shares of First Solar from $236.00 to $215.00 and set a "buy" rating for the company in a report on Tuesday, April 8th. Two analysts have rated the stock with a sell rating, five have issued a hold rating, twenty-four have issued a buy rating and two have issued 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 $226.30.

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.