Dnca Finance Boosts Stake in First Solar, Inc. (NASDAQ:FSLR)

Dnca Finance increased its position in shares of First Solar, Inc. (NASDAQ:FSLR) by 16.3% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 36,647 shares of the solar cell manufacturer’s stock after buying an additional 5,147 shares during the quarter. Dnca Finance’s holdings in First Solar were worth $6,459,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in FSLR. Smartleaf Asset Management LLC increased its holdings in shares of First Solar by 31.7% in the 4th 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. Crews Bank & Trust purchased a new position in First Solar during the 4th quarter worth $53,000. Hudson Edge Investment Partners Inc. acquired a new position in First Solar in the fourth quarter valued at $53,000. CoreFirst Bank & Trust purchased a new stake in shares of First Solar in the fourth quarter valued at about $54,000. Finally, Montag A & Associates Inc. boosted its stake in shares of First Solar by 18.8% during the fourth quarter. Montag A & Associates Inc. now owns 475 shares of the solar cell manufacturer’s stock worth $84,000 after buying an additional 75 shares during the period. Institutional investors and hedge funds own 92.08% of the company’s stock.

Analysts Set New Price Targets

Several analysts have commented on the company. Robert W. Baird reduced their price objective on First Solar from $267.00 to $240.00 and set an “outperform” rating for the company in a research note on Tuesday. Morgan Stanley cut their price target on First Solar from $297.00 to $238.00 and set an “overweight” rating for the company in a research note on Thursday, February 27th. JPMorgan Chase & Co. lowered their price objective on shares of First Solar from $282.00 to $268.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 26th. Bank of America cut their price objective on shares of First Solar from $236.00 to $215.00 and set a “buy” rating for the company in a research report on Tuesday, April 8th. Finally, Truist Financial reaffirmed a “buy” rating and issued a $245.00 target price (down previously from $285.00) on shares of First Solar in a report on Wednesday, April 2nd. Four equities research 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 data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $251.63.

First Solar Price Performance

Shares of NASDAQ FSLR opened at $127.98 on Friday. The company has a current ratio of 2.14, a quick ratio of 1.44 and a debt-to-equity ratio of 0.05. The stock has a market cap of $13.70 billion, a price-to-earnings ratio of 11.02, a PEG ratio of 0.19 and a beta of 1.48. The company’s 50-day moving average price is $136.14 and its 200 day moving average price is $172.46. First Solar, Inc. has a 52 week low of $116.56 and a 52 week high of $306.77.

First Solar (NASDAQ:FSLR) last posted 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). First Solar had a net margin of 32.41% and a return on equity of 17.56%. The company had revenue of $1.51 billion during the quarter, compared to analysts’ expectations of $1.48 billion. As a group, research analysts forecast that First Solar, Inc. will post 13.05 earnings per share for the current fiscal year.

Insider Buying and Selling at First Solar

In other First Solar news, CTO Markus Gloeckler sold 380 shares of the firm’s stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $133.75, for a total value of $50,825.00. Following the sale, the chief technology officer now directly owns 17,594 shares of the company’s stock, valued at approximately $2,353,197.50. This trade represents a 2.11 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Mark R. Widmar sold 21,542 shares of the stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $141.09, for a total transaction of $3,039,360.78. Following the transaction, the chief executive officer now owns 103,403 shares in the company, valued at approximately $14,589,129.27. The trade was a 17.24 % 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 worth $4,767,158. Corporate insiders own 0.48% of the company’s stock.

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.