27,300 Shares in First Solar, Inc. (NASDAQ:FSLR) Purchased by SIR Capital Management L.P.

SIR Capital Management L.P. bought a new stake in shares of First Solar, Inc. (NASDAQ:FSLR - Free Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund bought 27,300 shares of the solar cell manufacturer's stock, valued at approximately $4,811,000.

Several other institutional investors and hedge funds also recently made changes to their positions in FSLR. Whalen Wealth Management Inc. boosted its holdings 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 valued at $856,000 after buying an additional 1,554 shares during the last quarter. Allspring Global Investments Holdings LLC increased its position in First Solar by 665.8% during 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 during the period. Paragon Capital Management Inc. bought a new position in First Solar during the 4th quarter worth $1,240,000. Robeco Institutional Asset Management B.V. increased its position in First Solar by 9.0% during 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 during the period. Finally, Golden State Equity Partners increased its position in First Solar by 41,342.9% during 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 during the period. Institutional investors own 92.08% of the company's stock.

First Solar Trading Down 7.6%

FSLR stock traded down $13.54 during trading on Monday, hitting $164.92. 10,866,846 shares of the company traded hands, compared to its average volume of 3,097,496. The firm has a market capitalization of $17.69 billion, a PE ratio of 14.21, a P/E/G ratio of 0.19 and a beta of 1.46. First Solar, Inc. has a 1 year low of $116.56 and a 1 year high of $306.77. The company has a 50-day moving average of $135.55 and a 200-day moving average of $162.64. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.44 and a current ratio of 2.14.

First Solar (NASDAQ:FSLR - Get Free Report) last released its earnings results on Tuesday, April 29th. The solar cell manufacturer reported $1.95 EPS for the quarter, missing analysts' consensus estimates of $2.50 by ($0.55). First Solar had a net margin of 32.41% and a return on equity of 17.56%. The firm had revenue of $844.57 million during the quarter, compared to analysts' expectations of $863.11 million. During the same quarter in the previous year, the business earned $2.20 EPS. The company's revenue for the quarter was up 6.4% compared to the same quarter last year. Analysts predict that First Solar, Inc. will post 13.05 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms have weighed in on FSLR. KeyCorp cut First Solar from a "sector weight" rating to an "underweight" rating and set a $100.00 price objective on the stock. in a research report on Wednesday, April 30th. UBS Group restated a "buy" rating and issued a $255.00 price target on shares of First Solar in a research report on Wednesday, May 14th. Royal Bank of Canada decreased their target price on First Solar from $237.00 to $214.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 30th. Barclays decreased their target price on First Solar from $236.00 to $204.00 and set an "overweight" rating on the stock in a research report on Friday, April 11th. Finally, Wells Fargo & Company decreased their target price on First Solar from $191.00 to $177.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 30th. Two analysts have rated the stock with a sell rating, five have given a hold rating, twenty-four have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $226.30.

Insider Buying and Selling

In related news, insider Georges Antoun sold 229 shares of First Solar stock in a transaction on Monday, March 17th. The stock was sold at an average price of $133.75, for a total transaction of $30,628.75. Following the transaction, the insider now directly owns 52,836 shares in the company, valued at approximately $7,066,815. The trade was a 0.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 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 value of $3,039,360.78. Following the completion of the transaction, the chief executive officer now owns 103,403 shares in the company, valued at $14,589,129.27. The trade was a 17.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 34,311 shares of company stock valued at $4,767,158 over the last 90 days. Company insiders own 0.48% of the company's stock.

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.