Schroder Investment Management Group Acquires 292,881 Shares of First Solar, Inc. (NASDAQ:FSLR)


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Schroder Investment Management Group grew its holdings in First Solar, Inc. (NASDAQ:FSLR) by 18.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,904,372 shares of the solar cell manufacturer’s stock after acquiring an additional 292,881 shares during the quarter. Schroder Investment Management Group owned 1.80% of First Solar worth $188,381,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in FSLR. IFP Advisors Inc lifted its position in First Solar by 2,272.7% during the fourth quarter. IFP Advisors Inc now owns 261 shares of the solar cell manufacturer’s stock worth $26,000 after purchasing an additional 250 shares during the period. Eudaimonia Partners LLC lifted its position in First Solar by 164.4% during the third quarter. Eudaimonia Partners LLC now owns 1,750 shares of the solar cell manufacturer’s stock worth $28,000 after purchasing an additional 1,088 shares during the period. Accel Wealth Management bought a new stake in First Solar during the fourth quarter worth about $30,000. Atticus Wealth Management LLC lifted its position in First Solar by 75.0% during the fourth quarter. Atticus Wealth Management LLC now owns 350 shares of the solar cell manufacturer’s stock worth $35,000 after purchasing an additional 150 shares during the period. Finally, Advisory Services Network LLC lifted its position in First Solar by 219.2% during the fourth quarter. Advisory Services Network LLC now owns 415 shares of the solar cell manufacturer’s stock worth $41,000 after purchasing an additional 285 shares during the period. 67.70% of the stock is owned by institutional investors.

Several equities research analysts recently weighed in on the stock. TheStreet cut shares of First Solar from a “b” rating to a “c+” rating in a research report on Thursday, February 25th. Bank of America downgraded shares of First Solar from a “neutral” rating to an “underperform” rating in a research note on Thursday, January 28th. They noted that the move was a valuation call. Smith Barney Citigroup initiated coverage on shares of First Solar in a research note on Friday, January 8th. They issued a “neutral” rating and a $106.00 price target on the stock. Credit Suisse Group upgraded shares of First Solar from an “underperform” rating to a “neutral” rating and set a $70.00 price target on the stock in a research note on Monday, March 15th. Finally, Piper Sandler reduced their price target on shares of First Solar from $92.00 to $81.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 9th. They noted that the move was a valuation call. Six analysts have rated the stock with a sell rating, eight have given a hold rating and four have issued a buy rating to the stock. First Solar has an average rating of “Hold” and a consensus price target of $91.65.

In other First Solar news, Director R Craig Kennedy sold 550 shares of the firm’s stock in a transaction that occurred on Friday, January 15th. The shares were sold at an average price of $105.16, for a total transaction of $57,838.00. Following the completion of the transaction, the director now owns 26,839 shares in the company, valued at approximately $2,822,389.24. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CTO Markus Gloeckler sold 1,456 shares of the firm’s stock in a transaction that occurred on Wednesday, March 24th. The stock was sold at an average price of $81.64, for a total transaction of $118,867.84. Following the transaction, the chief technology officer now owns 7,775 shares of the company’s stock, valued at approximately $634,751. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 36,536 shares of company stock valued at $2,845,096. Company insiders own 0.54% of the company’s stock.

Shares of NASDAQ FSLR opened at $81.00 on Thursday. The company has a 50 day simple moving average of $83.00 and a 200 day simple moving average of $87.92. The firm has a market cap of $8.58 billion, a PE ratio of 38.76, a price-to-earnings-growth ratio of 1.69 and a beta of 1.27. First Solar, Inc. has a 1 year low of $36.59 and a 1 year high of $112.50. The company has a debt-to-equity ratio of 0.04, a current ratio of 3.83 and a quick ratio of 3.05.

First Solar (NASDAQ:FSLR) last issued its quarterly earnings data on Thursday, February 25th. The solar cell manufacturer reported $1.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.27 by ($0.19). First Solar had a net margin of 6.38% and a return on equity of 9.49%. The business had revenue of $609.23 million during the quarter, compared to the consensus estimate of $713.59 million. During the same quarter last year, the business earned $2.02 EPS. As a group, research analysts anticipate that First Solar, Inc. will post 3.94 earnings per share for the current fiscal year.

First Solar Company Profile

First Solar, Inc engages in designing, manufacturing, marketing, and distribution of photovoltaic solar power systems and solar modules. It operates through the Modules and Systems segments. The Modules segment involves in the design, manufacture, and sale of cadmium telluride solar modules, which convert sunlight into electricity.

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Institutional Ownership by Quarter for First Solar (NASDAQ:FSLR)

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