First Solar, Inc. (NASDAQ:FSLR) Shares Acquired by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of First Solar, Inc. (NASDAQ:FSLR - Free Report) by 4.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 548,058 shares of the solar cell manufacturer's stock after purchasing an additional 20,946 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank owned approximately 0.51% of First Solar worth $94,419,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the stock. Advisory Services Network LLC boosted its stake in shares of First Solar by 5.2% during the first quarter. Advisory Services Network LLC now owns 996 shares of the solar cell manufacturer's stock valued at $217,000 after purchasing an additional 49 shares during the period. Balentine LLC boosted its stake in shares of First Solar by 2.7% during the second quarter. Balentine LLC now owns 1,970 shares of the solar cell manufacturer's stock valued at $374,000 after purchasing an additional 51 shares during the period. Apollon Wealth Management LLC boosted its stake in shares of First Solar by 2.0% during the first quarter. Apollon Wealth Management LLC now owns 3,104 shares of the solar cell manufacturer's stock valued at $675,000 after purchasing an additional 60 shares during the period. SVB Wealth LLC boosted its stake in shares of First Solar by 2.1% during the first quarter. SVB Wealth LLC now owns 3,439 shares of the solar cell manufacturer's stock valued at $748,000 after purchasing an additional 71 shares during the period. Finally, Horizon Investments LLC boosted its stake in shares of First Solar by 5.0% during the second quarter. Horizon Investments LLC now owns 1,524 shares of the solar cell manufacturer's stock valued at $290,000 after purchasing an additional 72 shares during the period. 92.08% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

FSLR has been the subject of a number of recent analyst reports. Royal Bank of Canada reissued an "outperform" rating and set a $195.00 target price on shares of First Solar in a research note on Wednesday, February 28th. Bank of America upped their price objective on shares of First Solar from $187.00 to $194.00 and gave the stock a "buy" rating in a research note on Wednesday, April 10th. Janney Montgomery Scott began coverage on shares of First Solar in a research note on Friday. They issued a "buy" rating and a $236.00 price objective for the company. Wells Fargo & Company lowered shares of First Solar from an "overweight" rating to an "equal weight" rating and lowered their price objective for the stock from $215.00 to $187.00 in a research note on Monday, January 8th. Finally, Mizuho upped their price objective on shares of First Solar from $188.00 to $196.00 and gave the stock a "buy" rating in a research note on Wednesday, January 3rd. Four equities research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $227.96.

Insider Buying and Selling

In related news, Director R Craig Kennedy sold 1,500 shares of the stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $157.76, for a total value of $236,640.00. Following the transaction, the director now owns 15,641 shares in the company, valued at approximately $2,467,524.16. The sale was disclosed in a filing with the SEC, which is available through this link. In other news, Director R Craig Kennedy sold 1,500 shares of the firm's stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $157.76, for a total transaction of $236,640.00. Following the sale, the director now owns 15,641 shares of the company's stock, valued at approximately $2,467,524.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO Markus Gloeckler sold 679 shares of the firm's stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $160.00, for a total transaction of $108,640.00. Following the sale, the chief technology officer now directly owns 14,473 shares in the company, valued at approximately $2,315,680. The disclosure for this sale can be found here. In the last quarter, insiders have sold 26,620 shares of company stock worth $4,269,540. 0.58% of the stock is owned by company insiders.

First Solar Stock Down 1.6 %

Shares of FSLR traded down $2.88 during mid-day trading on Tuesday, hitting $173.08. 1,855,617 shares of the company traded hands, compared to its average volume of 2,066,690. First Solar, Inc. has a 1-year low of $129.21 and a 1-year high of $232.00. The company has a quick ratio of 2.92, a current ratio of 3.55 and a debt-to-equity ratio of 0.07. The company has a market capitalization of $18.53 billion, a PE ratio of 22.36, a price-to-earnings-growth ratio of 0.31 and a beta of 1.41. The business has a 50 day moving average of $159.59 and a 200 day moving average of $155.77.

First Solar (NASDAQ:FSLR - Get Free Report) last issued its quarterly earnings results on Tuesday, February 27th. The solar cell manufacturer reported $3.25 earnings per share for the quarter, topping the consensus estimate of $3.19 by $0.06. First Solar had a net margin of 25.03% and a return on equity of 13.80%. The company had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.31 billion. During the same quarter in the prior year, the company earned ($0.07) EPS. First Solar's quarterly revenue was up 15.5% on a year-over-year basis. Equities research analysts anticipate that First Solar, Inc. will post 13.53 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.