Park West Asset Management LLC Acquires 25,000 Shares of First Solar, Inc. (NASDAQ:FSLR)

Park West Asset Management LLC raised its holdings in First Solar, Inc. (NASDAQ:FSLR - Free Report) by 33.3% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 100,000 shares of the solar cell manufacturer's stock after purchasing an additional 25,000 shares during the quarter. First Solar makes up about 1.4% of Park West Asset Management LLC's investment portfolio, making the stock its 28th largest position. Park West Asset Management LLC owned approximately 0.09% of First Solar worth $17,624,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the business. Virtu Financial LLC increased its position in First Solar by 38.5% in the third quarter. Virtu Financial LLC now owns 8,041 shares of the solar cell manufacturer's stock worth $2,006,000 after purchasing an additional 2,235 shares during the period. Morse Asset Management Inc grew its position in shares of First Solar by 10.7% in the 3rd quarter. Morse Asset Management Inc now owns 12,449 shares of the solar cell manufacturer's stock valued at $3,105,000 after purchasing an additional 1,199 shares during the period. Blankinship & Foster LLC bought a new stake in First Solar in the 3rd quarter valued at approximately $935,000. Peapack Gladstone Financial Corp lifted its stake in First Solar by 33.3% in the 3rd quarter. Peapack Gladstone Financial Corp now owns 24,553 shares of the solar cell manufacturer's stock valued at $6,125,000 after acquiring an additional 6,135 shares in the last quarter. Finally, Franklin Resources Inc. lifted its stake in First Solar by 10.4% in the 3rd quarter. Franklin Resources Inc. now owns 131,634 shares of the solar cell manufacturer's stock valued at $32,835,000 after acquiring an additional 12,439 shares in the last quarter. Institutional investors own 92.08% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the company. StockNews.com upgraded First Solar from a "sell" rating to a "hold" rating in a research note on Thursday, January 2nd. Roth Mkm reiterated a "buy" rating and set a $280.00 price objective on shares of First Solar in a research note on Wednesday, February 26th. Wells Fargo & Company dropped their price objective on First Solar from $240.00 to $209.00 and set an "overweight" rating on the stock in a research note on Wednesday, January 8th. Susquehanna dropped their price objective on First Solar from $223.00 to $217.00 and set a "positive" rating on the stock in a research note on Monday, April 14th. Finally, Morgan Stanley set a $223.00 target price on First Solar and gave the stock an "overweight" rating in a report on Wednesday, April 23rd. Four equities research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $249.96.

First Solar Price Performance

FSLR stock opened at $140.73 on Tuesday. The company has a 50 day simple moving average of $133.02 and a 200 day simple moving average of $167.95. The stock has a market cap of $15.09 billion, a price-to-earnings ratio of 12.12, a P/E/G ratio of 0.19 and a beta of 1.48. First Solar, Inc. has a 1 year low of $116.56 and a 1 year high of $306.77. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.14 and a quick ratio of 1.44.

First Solar (NASDAQ:FSLR - Get Free Report) last released its quarterly earnings data on Tuesday, February 25th. The solar cell manufacturer reported $3.65 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $4.81 by ($1.16). The company had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.48 billion. First Solar had a return on equity of 17.56% and a net margin of 32.41%. Research analysts anticipate that First Solar, Inc. will post 13.05 EPS for the current fiscal year.

Insider Buying and Selling at First Solar

In other First Solar news, CEO Mark R. Widmar sold 21,542 shares of the business's stock in a transaction that occurred on Friday, February 28th. The stock was 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 directly owns 103,403 shares of the company's stock, valued at approximately $14,589,129.27. The trade was a 17.24 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Kuntal Kumar Verma sold 7,475 shares of the business's stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $136.60, for a total value of $1,021,085.00. Following the sale, the insider now directly owns 3,549 shares of the company's stock, valued at $484,793.40. This represents a 67.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 34,311 shares of company stock worth $4,767,158. 0.48% of the stock is currently owned by company insiders.

First Solar Company 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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