First Solar, Inc. (NASDAQ:FSLR) Shares Bought by Northern Trust Corp

Northern Trust Corp lifted its position in First Solar, Inc. (NASDAQ:FSLR - Free Report) by 30.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,248,552 shares of the solar cell manufacturer's stock after purchasing an additional 293,134 shares during the period. Northern Trust Corp owned about 1.17% of First Solar worth $220,045,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in shares of First Solar by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 12,821,701 shares of the solar cell manufacturer's stock worth $2,259,697,000 after acquiring an additional 120,289 shares during the last quarter. Geode Capital Management LLC lifted its stake in First Solar by 2.4% in the 4th quarter. Geode Capital Management LLC now owns 2,666,242 shares of the solar cell manufacturer's stock worth $469,154,000 after purchasing an additional 63,739 shares in the last quarter. Wellington Management Group LLP grew its holdings in shares of First Solar by 12.5% in the fourth quarter. Wellington Management Group LLP now owns 2,359,846 shares of the solar cell manufacturer's stock valued at $415,899,000 after purchasing an additional 262,482 shares during the period. Invesco Ltd. increased its position in shares of First Solar by 13.9% during the 4th quarter. Invesco Ltd. now owns 1,835,056 shares of the solar cell manufacturer's stock worth $323,410,000 after purchasing an additional 223,933 shares during the last quarter. Finally, Amundi raised its position in First Solar by 31.0% in the fourth quarter. Amundi now owns 1,805,244 shares of the solar cell manufacturer's stock valued at $336,871,000 after purchasing an additional 426,797 shares during the period. Institutional investors own 92.08% of the company's stock.

First Solar Stock Up 3.1 %

Shares of NASDAQ FSLR traded up $3.97 during trading on Friday, reaching $130.54. The company had a trading volume of 3,393,776 shares, compared to its average volume of 2,857,118. The stock has a market cap of $14.00 billion, a PE ratio of 11.24, a P/E/G ratio of 0.19 and a beta of 1.48. The company has a quick ratio of 1.44, a current ratio of 2.14 and a debt-to-equity ratio of 0.05. The business's 50-day moving average is $131.03 and its 200 day moving average is $165.85. First Solar, Inc. has a 12-month low of $116.56 and a 12-month high of $306.77.

First Solar (NASDAQ:FSLR - Get Free Report) last announced its earnings results on Tuesday, April 29th. The solar cell manufacturer reported $1.95 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.50 by ($0.55). The firm had revenue of $844.57 million during the quarter, compared to analysts' expectations of $863.11 million. First Solar had a return on equity of 17.56% and a net margin of 32.41%. The company'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. As a group, equities analysts forecast that First Solar, Inc. will post 13.05 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on FSLR shares. Piper Sandler cut their price target on First Solar from $230.00 to $205.00 and set an "overweight" rating on the stock in a report on Monday, April 21st. JPMorgan Chase & Co. decreased their target price on shares of First Solar from $282.00 to $268.00 and set an "overweight" rating for the company in a research note on Wednesday, February 26th. 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. Deutsche Bank Aktiengesellschaft set a $265.00 price objective on First Solar in a research report on Thursday, February 27th. Finally, Redburn Atlantic assumed coverage on First Solar in a report on Monday, March 3rd. They issued a "neutral" rating on the stock. Two analysts have 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 stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $223.87.

Insider Activity

In related news, CEO Mark R. Widmar sold 21,542 shares of the company's stock in a transaction on Friday, February 28th. The stock was sold at an average price of $141.09, for a total value of $3,039,360.78. Following the transaction, the chief executive officer now directly owns 103,403 shares of the company's stock, valued at $14,589,129.27. This represents a 17.24 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CTO Markus Gloeckler sold 380 shares of the firm's stock in a transaction on Monday, March 17th. The stock was sold at an average price of $133.75, for a total transaction of $50,825.00. Following the transaction, the chief technology officer now directly owns 17,594 shares of the company's stock, valued at approximately $2,353,197.50. This trade represents a 2.11 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 34,311 shares of company stock valued at $4,767,158. 0.48% of the stock is currently owned by insiders.

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.