Flputnam Investment Management Co. Has $2.88 Million Holdings in First Solar, Inc. (NASDAQ:FSLR)

Flputnam Investment Management Co. lifted its holdings in First Solar, Inc. (NASDAQ:FSLR) by 613.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,717 shares of the solar cell manufacturer’s stock after acquiring an additional 14,375 shares during the quarter. Flputnam Investment Management Co.’s holdings in First Solar were worth $2,880,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Vontobel Holding Ltd. lifted its holdings in First Solar by 15.6% during the 4th quarter. Vontobel Holding Ltd. now owns 444,651 shares of the solar cell manufacturer’s stock worth $76,604,000 after buying an additional 60,054 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. lifted its holdings in First Solar by 17.4% during the 4th quarter. Harel Insurance Investments & Financial Services Ltd. now owns 20,166 shares of the solar cell manufacturer’s stock worth $3,490,000 after buying an additional 2,995 shares in the last quarter. Lecap Asset Management Ltd. acquired a new position in First Solar during the 4th quarter worth $541,000. Louisiana State Employees Retirement System acquired a new position in First Solar during the 4th quarter worth $1,120,000. Finally, Aquila Investment Management LLC acquired a new position in First Solar during the 4th quarter worth $1,206,000. 92.08% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at First Solar

In other news, insider Georges Antoun sold 16,667 shares of the stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $155.55, for a total transaction of $2,592,551.85. Following the completion of the transaction, the insider now directly owns 42,041 shares in the company, valued at approximately $6,539,477.55. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, insider Georges Antoun sold 16,667 shares of the firm’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $155.55, for a total value of $2,592,551.85. Following the completion of the sale, the insider now directly owns 42,041 shares in the company, valued at approximately $6,539,477.55. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Markus Gloeckler sold 1,937 shares of the firm’s stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $175.00, for a total transaction of $338,975.00. Following the completion of the sale, the chief technology officer now owns 12,536 shares of the company’s stock, valued at $2,193,800. The disclosure for this sale can be found here. Insiders sold a total of 26,620 shares of company stock worth $4,269,540 in the last three months. Insiders own 0.58% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on FSLR shares. Mizuho upped their price objective on First Solar from $188.00 to $196.00 and gave the stock a “buy” rating in a report on Wednesday, January 3rd. Royal Bank of Canada reiterated an “outperform” rating and set a $195.00 target price on shares of First Solar in a research report on Wednesday, February 28th. Susquehanna reiterated a “positive” rating and set a $258.00 target price on shares of First Solar in a research report on Friday, April 5th. Bank of America upped their target price on shares of First Solar from $187.00 to $194.00 and gave the company a “buy” rating in a research report on Wednesday, April 10th. Finally, Janney Montgomery Scott began coverage on shares of First Solar in a research report on Friday, April 12th. They set a “buy” rating and a $236.00 target price for the company. Four analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $227.96.

First Solar Price Performance

FSLR stock opened at $173.08 on Wednesday. The stock has a 50-day moving average price of $159.59 and a two-hundred day moving average price of $155.77. The stock has a market cap of $18.53 billion, a PE ratio of 22.36, a price-to-earnings-growth ratio of 0.30 and a beta of 1.41. The company has a current ratio of 3.55, a quick ratio of 2.92 and a debt-to-equity ratio of 0.07. First Solar, Inc. has a 1 year low of $129.21 and a 1 year high of $232.00.

First Solar (NASDAQ:FSLR) last released its earnings results on Tuesday, February 27th. The solar cell manufacturer reported $3.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.19 by $0.06. The firm had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.31 billion. First Solar had a return on equity of 13.80% and a net margin of 25.03%. The company’s revenue was up 15.5% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.07) EPS. Equities analysts forecast that First Solar, Inc. will post 13.55 EPS for the current fiscal year.

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.