Zurcher Kantonalbank Zurich Cantonalbank Buys 20,946 Shares of First Solar, Inc. (NASDAQ:FSLR)

Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in First Solar, Inc. (NASDAQ:FSLR) by 4.0% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 548,058 shares of the solar cell manufacturer’s stock after acquiring an additional 20,946 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in First Solar were worth $94,419,000 as of its most recent filing with the SEC.

Other hedge funds have also added to or reduced their stakes in the company. Raymond James & Associates increased its stake in shares of First Solar by 160.6% in the first quarter. Raymond James & Associates now owns 26,796 shares of the solar cell manufacturer’s stock worth $2,244,000 after purchasing an additional 16,515 shares in the last quarter. American Century Companies Inc. increased its stake in shares of First Solar by 13.8% in the first quarter. American Century Companies Inc. now owns 8,472 shares of the solar cell manufacturer’s stock worth $710,000 after purchasing an additional 1,030 shares in the last quarter. Cibc World Market Inc. increased its stake in shares of First Solar by 71.0% in the first quarter. Cibc World Market Inc. now owns 7,464 shares of the solar cell manufacturer’s stock worth $625,000 after purchasing an additional 3,100 shares in the last quarter. Blair William & Co. IL increased its stake in shares of First Solar by 1.8% in the first quarter. Blair William & Co. IL now owns 50,128 shares of the solar cell manufacturer’s stock worth $4,198,000 after purchasing an additional 890 shares in the last quarter. Finally, Sei Investments Co. grew its stake in First Solar by 11.6% during the first quarter. Sei Investments Co. now owns 25,804 shares of the solar cell manufacturer’s stock valued at $2,161,000 after acquiring an additional 2,691 shares in the last quarter. Institutional investors own 92.08% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Wells Fargo & Company cut shares of First Solar from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $215.00 to $187.00 in a research note on Monday, January 8th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $195.00 price objective on shares of First Solar in a research note on Wednesday, February 28th. Janney Montgomery Scott initiated coverage on shares of First Solar in a research note on Friday. They set a “buy” rating and a $236.00 price objective for the company. Susquehanna reissued a “positive” rating and issued a $258.00 price target on shares of First Solar in a research note on Friday, April 5th. Finally, Bank of America increased their price target on shares of First Solar from $187.00 to $194.00 and gave the stock a “buy” rating in a report on Wednesday, April 10th. Four research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $227.96.

First Solar Trading Down 1.6 %

FSLR traded down $2.88 during trading on Tuesday, hitting $173.08. 1,855,079 shares of the stock traded hands, compared to its average volume of 2,066,683. The firm has a market capitalization of $18.53 billion, a P/E ratio of 22.73, a price-to-earnings-growth ratio of 0.31 and a beta of 1.41. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.55 and a quick ratio of 2.92. The firm has a 50-day moving average of $158.95 and a 200 day moving average of $155.69. First Solar, Inc. has a 12-month low of $129.21 and a 12-month high of $232.00.

First Solar (NASDAQ:FSLR) last posted its earnings results on Tuesday, February 27th. The solar cell manufacturer reported $3.25 EPS for the quarter, topping the consensus estimate of $3.19 by $0.06. First Solar had a net margin of 25.03% and a return on equity of 13.80%. The firm had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.31 billion. During the same period last year, the company posted ($0.07) EPS. The company’s quarterly revenue was up 15.5% compared to the same quarter last year. Equities research analysts anticipate that First Solar, Inc. will post 13.53 EPS for the current year.

Insider Buying and Selling

In related news, Director R Craig Kennedy sold 1,500 shares of the stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $157.76, for a total value of $236,640.00. Following the completion of the transaction, the director now directly owns 15,641 shares in the company, valued at approximately $2,467,524.16. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other First Solar news, insider Georges Antoun sold 16,667 shares of the firm’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $155.55, for a total transaction of $2,592,551.85. Following the completion of the sale, the insider now directly owns 42,041 shares in the company, valued at approximately $6,539,477.55. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director R Craig Kennedy sold 1,500 shares of the firm’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $157.76, for a total transaction of $236,640.00. Following the sale, the director now owns 15,641 shares of the company’s stock, valued at $2,467,524.16. The disclosure for this sale can be found here. Insiders sold a total of 26,620 shares of company stock worth $4,269,540 in the last three months. 0.58% of the stock is owned by corporate 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.