Altshuler Shaham Ltd Takes $555,000 Position in First Solar, Inc. (NASDAQ:FSLR)

Altshuler Shaham Ltd bought a new stake in First Solar, Inc. (NASDAQ:FSLR) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 3,222 shares of the solar cell manufacturer’s stock, valued at approximately $555,000.

A number of other institutional investors also recently modified their holdings of FSLR. Estabrook Capital Management acquired a new position in First Solar in the third quarter valued at about $29,000. Baystate Wealth Management LLC acquired a new position in shares of First Solar in the fourth quarter valued at approximately $29,000. Headinvest LLC acquired a new position in shares of First Solar in the third quarter valued at approximately $30,000. Rakuten Securities Inc. acquired a new position in shares of First Solar in the fourth quarter valued at approximately $34,000. Finally, USCF Advisers LLC lifted its holdings in shares of First Solar by 100.0% in the 4th quarter. USCF Advisers LLC now owns 200 shares of the solar cell manufacturer’s stock worth $34,000 after purchasing an additional 100 shares in the last quarter. Institutional investors own 92.08% of the company’s stock.

Insiders Place Their Bets

In other First Solar news, Director R Craig Kennedy sold 1,500 shares of First Solar stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $157.76, for a total value of $236,640.00. Following the transaction, the director now directly owns 15,641 shares of the company’s stock, valued at approximately $2,467,524.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Georges Antoun sold 2,400 shares of the business’s stock in a transaction on 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 transaction, the insider now owns 37,412 shares in the company, valued at $6,584,512. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director R Craig Kennedy sold 1,500 shares of the business’s stock in a transaction on 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 transaction, the director now owns 15,641 shares of the company’s stock, valued at approximately $2,467,524.16. The disclosure for this sale can be found here. Insiders have sold 28,620 shares of company stock valued at $4,663,000 in the last ninety days. Company insiders own 0.58% of the company’s stock.

First Solar Price Performance

Shares of NASDAQ FSLR traded up $2.89 during trading hours on Thursday, reaching $193.61. 1,230,125 shares of the stock traded hands, compared to its average volume of 2,067,929. The company has a market capitalization of $20.72 billion, a P/E ratio of 20.29, a price-to-earnings-growth ratio of 0.33 and a beta of 1.37. The company has a quick ratio of 1.86, a current ratio of 2.41 and a debt-to-equity ratio of 0.06. First Solar, Inc. has a 52-week low of $129.21 and a 52-week high of $232.00. The company’s 50-day simple moving average is $169.38 and its two-hundred day simple moving average is $159.14.

First Solar (NASDAQ:FSLR) last announced its quarterly earnings results on Wednesday, May 1st. The solar cell manufacturer reported $2.20 EPS for the quarter, topping analysts’ consensus estimates of $1.90 by $0.30. The business had revenue of $794.10 million for the quarter, compared to analysts’ expectations of $718.19 million. First Solar had a return on equity of 16.24% and a net margin of 28.75%. The business’s quarterly revenue was up 44.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.40 EPS. Equities research analysts forecast that First Solar, Inc. will post 13.55 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts recently issued reports on FSLR shares. Guggenheim cut their target price on First Solar from $359.00 to $356.00 and set a “buy” rating on the stock in a report on Thursday, May 2nd. Janney Montgomery Scott assumed coverage on First Solar in a research report on Friday, April 12th. They issued a “buy” rating and a $236.00 price target for the company. Royal Bank of Canada reissued an “outperform” rating and issued a $195.00 price target on shares of First Solar in a research report on Wednesday, February 28th. Oppenheimer increased their price target on First Solar from $269.00 to $271.00 and gave the company an “outperform” rating in a research report on Thursday, May 2nd. Finally, DZ Bank assumed coverage on First Solar in a research report on Wednesday, April 17th. They issued a “buy” rating and a $205.00 price target for the company. Three research analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $238.16.

About First Solar

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.