First Solar, Inc. (NASDAQ:FSLR) Position Increased by Bank Julius Baer & Co. Ltd Zurich

Bank Julius Baer & Co. Ltd Zurich raised its position in shares of First Solar, Inc. (NASDAQ:FSLR) by 2,009.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 180,681 shares of the solar cell manufacturer’s stock after buying an additional 172,117 shares during the quarter. Bank Julius Baer & Co. Ltd Zurich owned 0.17% of First Solar worth $31,128,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. First Pacific Financial purchased a new stake in shares of First Solar in the third quarter worth approximately $27,000. Estabrook Capital Management bought a new position in First Solar during the third quarter valued at approximately $29,000. Baystate Wealth Management LLC bought a new position in First Solar during the fourth quarter valued at approximately $29,000. Headinvest LLC bought a new position in First Solar during the third quarter valued at approximately $30,000. Finally, Rakuten Securities Inc. bought a new position in First Solar during the fourth quarter valued at approximately $34,000. 92.08% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. Evercore ISI upgraded First Solar from an “in-line” rating to an “outperform” rating and set a $227.00 price target on the stock in a report on Tuesday. Janney Montgomery Scott assumed coverage on First Solar in a report on Friday, April 12th. They set a “buy” rating and a $236.00 price target on the stock. Royal Bank of Canada reiterated an “outperform” rating and set a $195.00 price target on shares of First Solar in a report on Wednesday, February 28th. Barclays increased their price target on First Solar from $224.00 to $227.00 and gave the company an “overweight” rating in a report on Friday, April 19th. Finally, Oppenheimer restated an “outperform” rating and issued a $269.00 price objective on shares of First Solar in a research note on Wednesday, April 17th. Three analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $231.36.

Insider Activity at First Solar

In related news, insider Georges Antoun sold 2,400 shares of First Solar stock in a transaction dated Thursday, April 4th. The stock was sold at an average price of $176.00, for a total value of $422,400.00. Following the completion of the sale, the insider now directly owns 37,412 shares in the company, valued at $6,584,512. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, insider Georges Antoun sold 2,400 shares of First Solar stock in a transaction dated Thursday, April 4th. The stock was sold at an average price of $176.00, for a total value of $422,400.00. Following the completion of the sale, the insider now directly owns 37,412 shares in the company, valued at $6,584,512. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director R Craig Kennedy sold 1,500 shares of First Solar stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $157.76, for a total value of $236,640.00. Following the completion of 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 26,620 shares of company stock valued at $4,269,540 over the last ninety days. 0.58% of the stock is owned by insiders.

First Solar Price Performance

Shares of NASDAQ FSLR traded up $3.71 during midday trading on Friday, reaching $178.73. 1,338,504 shares of the company traded hands, compared to its average volume of 2,076,650. The firm has a market cap of $19.13 billion, a PE ratio of 23.09, a PEG ratio of 0.30 and a beta of 1.41. The stock’s 50-day simple moving average is $163.40 and its 200-day simple moving average is $157.20. First Solar, Inc. has a 12 month low of $129.21 and a 12 month high of $232.00. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.92 and a current ratio of 3.55.

First Solar (NASDAQ:FSLR) last released its quarterly earnings results on Tuesday, February 27th. The solar cell manufacturer reported $3.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.19 by $0.06. First Solar had a return on equity of 13.80% and a net margin of 25.03%. The business had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.31 billion. During the same period in the previous year, the business posted ($0.07) earnings per share. The firm’s revenue for the quarter was up 15.5% compared to the same quarter last year. As a group, equities analysts anticipate that First Solar, Inc. will post 13.55 earnings per share for the current fiscal 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.