Significant Wealth Partners LLC Acquires Shares of 2,060 First Solar, Inc. (NASDAQ:FSLR)

Significant Wealth Partners LLC acquired a new stake in First Solar, Inc. (NASDAQ:FSLR) in the fourth quarter, Holdings Channel reports. The fund acquired 2,060 shares of the solar cell manufacturer’s stock, valued at approximately $355,000.

A number of other hedge funds have also recently added to or reduced their stakes in FSLR. Clean Energy Transition LLP boosted its position in shares of First Solar by 948.8% during the third quarter. Clean Energy Transition LLP now owns 1,186,646 shares of the solar cell manufacturer’s stock valued at $191,750,000 after buying an additional 1,073,500 shares during the last quarter. Barclays PLC boosted its position in shares of First Solar by 125.5% during the third quarter. Barclays PLC now owns 848,623 shares of the solar cell manufacturer’s stock valued at $137,130,000 after buying an additional 472,327 shares during the last quarter. Covalis Capital LLP boosted its position in shares of First Solar by 615.6% during the third quarter. Covalis Capital LLP now owns 408,012 shares of the solar cell manufacturer’s stock valued at $65,931,000 after buying an additional 350,996 shares during the last quarter. Assenagon Asset Management S.A. boosted its position in shares of First Solar by 504.1% during the fourth quarter. Assenagon Asset Management S.A. now owns 399,650 shares of the solar cell manufacturer’s stock valued at $68,852,000 after buying an additional 333,496 shares during the last quarter. Finally, Vanguard Group Inc. boosted its position in shares of First Solar by 2.4% during the third quarter. Vanguard Group Inc. now owns 12,040,031 shares of the solar cell manufacturer’s stock valued at $1,945,549,000 after buying an additional 279,424 shares during the last quarter. Institutional investors and hedge funds own 92.08% of the company’s stock.

First Solar Stock Performance

NASDAQ:FSLR opened at $176.28 on Tuesday. The firm has a market cap of $18.87 billion, a price-to-earnings ratio of 22.78, a PEG ratio of 0.30 and a beta of 1.41. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.92 and a current ratio of 3.55. The business’s fifty day moving average is $161.72 and its 200 day moving average is $156.46. First Solar, Inc. has a 52-week low of $129.21 and a 52-week high of $232.00.

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

Wall Street Analysts Forecast Growth

Several research firms have weighed in on FSLR. Barclays boosted their price objective on First Solar from $224.00 to $227.00 and gave the stock an “overweight” rating in a research report on Friday. Wells Fargo & Company raised First Solar from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $187.00 to $250.00 in a research report on Friday. DZ Bank began coverage on First Solar in a research report on Wednesday, April 17th. They issued a “buy” rating and a $205.00 price objective on the stock. Royal Bank of Canada reissued an “outperform” rating and issued a $195.00 price objective on shares of First Solar in a research report on Wednesday, February 28th. Finally, Evercore ISI raised First Solar from an “in-line” rating to an “outperform” rating and set a $227.00 price objective on the stock in a research report on Tuesday. Three investment analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $231.36.

Insiders Place Their Bets

In other First Solar news, insider Kuntal Kumar Verma sold 250 shares of the company’s stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $148.34, for a total value of $37,085.00. Following the transaction, the insider now directly owns 5,170 shares in the company, valued at approximately $766,917.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Georges Antoun sold 16,667 shares of the stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $155.55, for a total transaction of $2,592,551.85. Following the transaction, the insider now directly owns 42,041 shares in the company, valued at approximately $6,539,477.55. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Kuntal Kumar Verma sold 250 shares of the stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $148.34, for a total value of $37,085.00. Following the transaction, the insider now owns 5,170 shares in the company, valued at $766,917.80. The disclosure for this sale can be found here. Insiders have sold 26,620 shares of company stock worth $4,269,540 in the last ninety days. 0.58% of the stock is currently owned by insiders.

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.