First Solar, Inc. (NASDAQ:FSLR) Shares Purchased by BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its holdings in First Solar, Inc. (NASDAQ:FSLR) by 80.4% during the fourth quarter, Holdings Channel.com reports. The fund owned 69,563 shares of the solar cell manufacturer’s stock after acquiring an additional 30,995 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in First Solar were worth $12,260,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in FSLR. Smartleaf Asset Management LLC boosted its stake in shares of First Solar by 31.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 262 shares of the solar cell manufacturer’s stock worth $47,000 after purchasing 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 purchasing an additional 63 shares during the last quarter. Huntington National Bank boosted its stake in shares of First Solar by 15.3% during the 4th quarter. Huntington National Bank now owns 511 shares of the solar cell manufacturer’s stock worth $90,000 after purchasing an additional 68 shares during the last quarter. Evexia Wealth LLC boosted its stake in shares of First Solar by 2.1% during the 4th quarter. Evexia Wealth LLC now owns 3,481 shares of the solar cell manufacturer’s stock worth $586,000 after purchasing an additional 70 shares during the last quarter. Finally, Mutual Advisors LLC boosted its stake in shares of First Solar by 5.3% during 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. 92.08% of the stock is owned by institutional investors and hedge funds.

First Solar Trading Down 4.3%

FSLR opened at $156.35 on Friday. The firm has a market capitalization of $16.77 billion, a P/E ratio of 13.47, a P/E/G ratio of 0.19 and a beta of 1.46. The firm’s 50 day moving average is $137.32 and its 200-day moving average is $162.29. First Solar, Inc. has a 52-week low of $116.56 and a 52-week high of $306.77. 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 posted its quarterly earnings data on Tuesday, April 29th. The solar cell manufacturer reported $1.95 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.50 by ($0.55). The firm had revenue of $844.57 million for the quarter, compared to analysts’ expectations of $863.11 million. First Solar had a net margin of 32.41% and a return on equity of 17.56%. The company’s revenue for the quarter was up 6.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.20 EPS. Analysts expect that First Solar, Inc. will post 13.05 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have issued reports on FSLR shares. Wells Fargo & Company decreased their price target on shares of First Solar from $191.00 to $177.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 30th. Redburn Atlantic started coverage on shares of First Solar in a research note on Monday, March 3rd. They set a “neutral” rating on the stock. Deutsche Bank Aktiengesellschaft set a $265.00 price target on shares of First Solar in a research note on Thursday, February 27th. Truist Financial reissued a “buy” rating and issued a $200.00 target price (down from $245.00) on shares of First Solar in a research report on Thursday, May 1st. Finally, Robert W. Baird decreased their target price on shares of First Solar from $267.00 to $240.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 15th. Two analysts have rated the stock with a sell rating, five have issued a hold rating, twenty-four have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $226.30.

Insider Activity

In other news, CEO Mark R. Widmar sold 21,542 shares of First Solar stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $141.09, for a total transaction of $3,039,360.78. Following the sale, the chief executive officer now owns 103,403 shares in the company, valued at $14,589,129.27. This trade represents a 17.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CTO Markus Gloeckler sold 380 shares of First Solar stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $133.75, for a total transaction of $50,825.00. Following the sale, the chief technology officer now owns 17,594 shares in the company, valued at $2,353,197.50. This represents a 2.11% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 34,311 shares of company stock worth $4,767,158 over the last 90 days. Company insiders own 0.48% of the company’s stock.

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.