AIA Group Ltd Has $440,000 Position in First Solar, Inc. (NASDAQ:FSLR)

AIA Group Ltd increased its holdings in First Solar, Inc. (NASDAQ:FSLR) by 133.6% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,495 shares of the solar cell manufacturer’s stock after purchasing an additional 1,427 shares during the period. AIA Group Ltd’s holdings in First Solar were worth $440,000 at the end of the most recent quarter.

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

First Solar Trading Up 0.9 %

NASDAQ:FSLR opened at $127.57 on Wednesday. The company has a market cap of $13.66 billion, a P/E ratio of 10.99, a price-to-earnings-growth ratio of 0.19 and a beta of 1.52. First Solar, Inc. has a twelve month low of $120.60 and a twelve month high of $306.77. The business has a 50 day moving average price of $147.83 and a two-hundred day moving average price of $183.30. 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 (NASDAQ:FSLR) last released 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 during the quarter, compared to analyst estimates of $1.48 billion. First Solar had a net margin of 32.41% and a return on equity of 17.56%. As a group, analysts expect that First Solar, Inc. will post 13.05 EPS for the current fiscal year.

Insider Activity

In other First Solar news, CEO Mark R. Widmar sold 21,542 shares of the stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $141.09, for a total value of $3,039,360.78. Following the transaction, the chief executive officer now directly owns 103,403 shares of the company’s stock, valued at $14,589,129.27. This represents a 17.24 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO Markus Gloeckler sold 380 shares of the business’s stock in a transaction on Monday, March 17th. The shares were sold at an average price of $133.75, for a total value of $50,825.00. Following the completion of the sale, the chief technology officer now owns 17,594 shares of the company’s stock, valued at $2,353,197.50. This trade represents a 2.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 34,311 shares of company stock valued at $4,767,158. 0.58% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several analysts have recently commented on FSLR shares. Truist Financial restated a “buy” rating and set a $285.00 target price (down previously from $300.00) on shares of First Solar in a report on Wednesday, February 26th. Barclays lowered their price target on shares of First Solar from $273.00 to $236.00 and set an “overweight” rating for the company in a report on Friday, February 28th. Piper Sandler decreased their price objective on First Solar from $250.00 to $230.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 26th. Guggenheim dropped their target price on First Solar from $335.00 to $304.00 and set a “buy” rating for the company in a research report on Thursday, February 27th. Finally, Mizuho upgraded First Solar from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $218.00 to $259.00 in a research report on Tuesday, February 11th. Four equities research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $262.08.

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.