Jupiter Asset Management Ltd. Raises Stock Position in First Solar, Inc. (NASDAQ:FSLR)

Jupiter Asset Management Ltd. raised its holdings in First Solar, Inc. (NASDAQ:FSLR) by 0.1% during the 1st quarter, Holdings Channel.com reports. The firm owned 96,602 shares of the solar cell manufacturer’s stock after acquiring an additional 69 shares during the period. Jupiter Asset Management Ltd.’s holdings in First Solar were worth $16,306,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in FSLR. Dixon Mitchell Investment Counsel Inc. purchased a new stake in shares of First Solar in the first quarter worth about $25,000. University of Texas Texas AM Investment Managment Co. acquired a new stake in shares of First Solar during the 4th quarter worth approximately $27,000. Baystate Wealth Management LLC acquired a new stake in shares of First Solar during the 4th quarter worth approximately $29,000. Riverview Trust Co purchased a new position in shares of First Solar during the 1st quarter valued at approximately $32,000. Finally, Rakuten Securities Inc. acquired a new position in shares of First Solar in the 4th quarter valued at $34,000. 92.08% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

FSLR has been the subject of a number of recent analyst reports. Guggenheim cut their price objective on shares of First Solar from $359.00 to $356.00 and set a “buy” rating for the company in a report on Thursday, May 2nd. Morgan Stanley increased their price target on First Solar from $248.00 to $331.00 and gave the stock an “overweight” rating in a research report on Tuesday, June 4th. Barclays boosted their price objective on First Solar from $227.00 to $228.00 and gave the company an “overweight” rating in a research report on Wednesday, May 15th. Roth Mkm reiterated a “buy” rating and set a $320.00 target price (up previously from $230.00) on shares of First Solar in a research report on Friday, May 31st. Finally, The Goldman Sachs Group boosted their price target on shares of First Solar from $268.00 to $302.00 and gave the stock a “buy” rating in a report on Tuesday, June 4th. Five research analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $272.72.

Insider Buying and Selling

In other First Solar news, CFO Alexander R. Bradley sold 16,051 shares of the business’s stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $274.69, for a total value of $4,409,049.19. Following the transaction, the chief financial officer now directly owns 30,652 shares in the company, valued at approximately $8,419,797.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director R Craig Kennedy sold 2,000 shares of the firm’s stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $196.73, for a total transaction of $393,460.00. Following the completion of the sale, the director now directly owns 13,908 shares of the company’s stock, valued at approximately $2,736,120.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Alexander R. Bradley sold 16,051 shares of the company’s stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $274.69, for a total transaction of $4,409,049.19. Following the completion of the transaction, the chief financial officer now directly owns 30,652 shares in the company, valued at approximately $8,419,797.88. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 51,153 shares of company stock worth $12,540,428. Insiders own 0.58% of the company’s stock.

First Solar Price Performance

Shares of FSLR stock traded up $2.85 during trading hours on Friday, reaching $216.43. The company had a trading volume of 2,565,198 shares, compared to its average volume of 2,824,502. First Solar, Inc. has a 12-month low of $129.21 and a 12-month high of $306.77. The company has a market capitalization of $23.17 billion, a price-to-earnings ratio of 22.69, a PEG ratio of 0.28 and a beta of 1.44. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.86 and a current ratio of 2.41. The stock has a fifty day moving average of $244.29 and a 200-day moving average of $190.97.

First Solar (NASDAQ:FSLR) last issued its earnings results on Wednesday, May 1st. The solar cell manufacturer reported $2.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.90 by $0.30. First Solar had a return on equity of 16.24% and a net margin of 28.75%. The company had revenue of $794.10 million during the quarter, compared to analysts’ expectations of $718.19 million. During the same period in the prior year, the business earned $0.40 EPS. The firm’s quarterly revenue was up 44.8% on a year-over-year basis. On average, equities analysts anticipate that First Solar, Inc. will post 13.57 earnings per share 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.