Wellington Management Group LLP Purchases 262,482 Shares of First Solar, Inc. (NASDAQ:FSLR)

Wellington Management Group LLP boosted its holdings in shares of First Solar, Inc. (NASDAQ:FSLR) by 12.5% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,359,846 shares of the solar cell manufacturer’s stock after acquiring an additional 262,482 shares during the quarter. Wellington Management Group LLP owned approximately 2.20% of First Solar worth $415,899,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Clear Harbor Asset Management LLC raised its holdings in shares of First Solar by 0.6% during the 4th quarter. Clear Harbor Asset Management LLC now owns 9,210 shares of the solar cell manufacturer’s stock valued at $1,623,000 after purchasing an additional 55 shares in the last quarter. Doliver Advisors LP raised its holdings in First Solar by 1.2% during the fourth quarter. Doliver Advisors LP now owns 4,713 shares of the solar cell manufacturer’s stock valued at $831,000 after buying an additional 56 shares in the last quarter. Smartleaf Asset Management LLC lifted its position in shares of First Solar by 31.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 262 shares of the solar cell manufacturer’s stock worth $47,000 after buying an additional 63 shares during the last quarter. Independent Advisor Alliance boosted its stake in shares of First Solar by 3.1% during the 4th quarter. Independent Advisor Alliance now owns 2,090 shares of the solar cell manufacturer’s stock worth $368,000 after acquiring an additional 63 shares in the last quarter. Finally, Mutual Advisors LLC raised its stake in shares of First Solar by 5.3% in the 4th quarter. Mutual Advisors LLC now owns 1,463 shares of the solar cell manufacturer’s stock valued at $279,000 after acquiring an additional 73 shares in the last quarter. 92.08% of the stock is currently owned by institutional investors and hedge funds.

First Solar Stock Performance

First Solar stock opened at $126.43 on Tuesday. The stock has a 50-day simple moving average of $148.95 and a 200 day simple moving average of $184.01. The stock has a market capitalization of $13.54 billion, a price-to-earnings ratio of 10.89, a P/E/G ratio of 0.19 and a beta of 1.52. The company has a quick ratio of 1.44, a current ratio of 2.14 and a debt-to-equity ratio of 0.05. First Solar, Inc. has a 12-month low of $120.60 and a 12-month high of $306.77.

First Solar (NASDAQ:FSLR) last announced its earnings results on Tuesday, February 25th. The solar cell manufacturer reported $3.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.81 by ($1.16). The company had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.48 billion. First Solar had a return on equity of 17.56% and a net margin of 32.41%. On average, research analysts anticipate that First Solar, Inc. will post 13.05 earnings per share for the current fiscal year.

Insider Activity

In other First Solar news, CFO Alexander R. Bradley sold 599 shares of the stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $133.75, for a total transaction of $80,116.25. Following the completion of the transaction, the chief financial officer now owns 45,717 shares in the company, valued at approximately $6,114,648.75. This represents a 1.29 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Mark R. Widmar sold 1,966 shares of the business’s stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $133.75, for a total value of $262,952.50. Following the completion of the sale, the chief executive officer now owns 111,890 shares in the company, valued at $14,965,287.50. The trade was a 1.73 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 34,311 shares of company stock valued at $4,767,158 in the last ninety days. 0.58% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on FSLR. JPMorgan Chase & Co. decreased their target price on First Solar from $282.00 to $268.00 and set an “overweight” rating for the company in a research report on Wednesday, February 26th. Mizuho upgraded shares of First Solar from a “neutral” rating to an “outperform” rating and raised their target price for the company from $218.00 to $259.00 in a research note on Tuesday, February 11th. Wells Fargo & Company cut their target price on shares of First Solar from $240.00 to $209.00 and set an “overweight” rating for the company in a research report on Wednesday, January 8th. Citigroup lowered their price target on First Solar from $254.00 to $236.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 26th. Finally, Roth Mkm reissued a “buy” rating and set a $280.00 price objective on shares of First Solar in a research report on Wednesday, February 26th. Four investment analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, First Solar presently has a consensus rating of “Moderate Buy” and a consensus target price of $262.08.

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.