J. Safra Sarasin Holding AG Acquires 16,433 Shares of First Solar, Inc. $FSLR

J. Safra Sarasin Holding AG lifted its holdings in First Solar, Inc. (NASDAQ:FSLR) by 18.2% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 106,875 shares of the solar cell manufacturer’s stock after acquiring an additional 16,433 shares during the period. J. Safra Sarasin Holding AG’s holdings in First Solar were worth $27,919,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of FSLR. Vanguard Group Inc. raised its stake in First Solar by 3.5% in the 3rd quarter. Vanguard Group Inc. now owns 13,721,979 shares of the solar cell manufacturer’s stock worth $3,026,108,000 after purchasing an additional 464,130 shares in the last quarter. State Street Corp grew its position in shares of First Solar by 2.1% during the 2nd quarter. State Street Corp now owns 5,326,082 shares of the solar cell manufacturer’s stock worth $881,680,000 after purchasing an additional 111,927 shares in the last quarter. Viking Global Investors LP grew its position in shares of First Solar by 60.6% during the 2nd quarter. Viking Global Investors LP now owns 2,266,050 shares of the solar cell manufacturer’s stock worth $375,122,000 after purchasing an additional 854,919 shares in the last quarter. Amundi increased its holdings in shares of First Solar by 38.6% during the third quarter. Amundi now owns 2,025,835 shares of the solar cell manufacturer’s stock worth $459,917,000 after purchasing an additional 564,032 shares during the period. Finally, Northern Trust Corp increased its holdings in shares of First Solar by 2.6% during the third quarter. Northern Trust Corp now owns 1,349,531 shares of the solar cell manufacturer’s stock worth $297,612,000 after purchasing an additional 34,313 shares during the period. 92.08% of the stock is owned by institutional investors.

First Solar Price Performance

Shares of NASDAQ:FSLR opened at $184.70 on Tuesday. The firm has a 50 day moving average of $215.52 and a 200-day moving average of $235.91. First Solar, Inc. has a 12 month low of $116.56 and a 12 month high of $285.99. The company has a current ratio of 2.67, a quick ratio of 2.35 and a debt-to-equity ratio of 0.03. The stock has a market capitalization of $19.82 billion, a PE ratio of 13.00, a PEG ratio of 0.33 and a beta of 1.65.

First Solar (NASDAQ:FSLR) last posted its quarterly earnings results on Tuesday, February 24th. The solar cell manufacturer reported $4.84 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.22 by ($0.38). The firm had revenue of $1.68 billion for the quarter, compared to analyst estimates of $1.59 billion. First Solar had a return on equity of 17.32% and a net margin of 29.28%.The business’s revenue was up 11.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $3.65 EPS. On average, equities research analysts predict that First Solar, Inc. will post 13.05 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on FSLR shares. DZ Bank upgraded First Solar to a “strong sell” rating in a research note on Thursday, February 26th. UBS Group lowered their price objective on First Solar from $330.00 to $300.00 and set a “buy” rating on the stock in a research note on Wednesday, February 25th. Freedom Capital cut First Solar from a “strong-buy” rating to a “hold” rating in a report on Thursday, February 26th. Evercore cut their target price on First Solar from $241.00 to $212.00 in a research report on Thursday, March 5th. Finally, Needham & Company LLC upped their target price on First Solar from $286.00 to $303.00 and gave the company a “buy” rating in a research report on Monday, February 23rd. Twenty research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, First Solar currently has a consensus rating of “Moderate Buy” and an average price target of $248.17.

Insider Activity

In other news, General Counsel Jason E. Dymbort sold 9,022 shares of the business’s stock in a transaction on Tuesday, March 17th. The stock was sold at an average price of $199.62, for a total transaction of $1,800,971.64. Following the completion of the transaction, the general counsel owned 9,850 shares of the company’s stock, valued at approximately $1,966,257. The trade was a 47.81% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Kuntal Kumar Verma sold 180 shares of the company’s stock in a transaction on Tuesday, March 17th. The stock was sold at an average price of $199.53, for a total value of $35,915.40. Following the sale, the insider owned 9,436 shares of the company’s stock, valued at approximately $1,882,765.08. This represents a 1.87% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 75,989 shares of company stock valued at $14,921,902. Corporate insiders own 0.48% of the company’s stock.

About First Solar

First Solar, Inc (NASDAQ: FSLR) is a United States–based solar technology company best known for designing and manufacturing thin‑film photovoltaic (PV) modules that use cadmium telluride (CdTe) semiconductor technology. The company supplies PV modules and delivers integrated solar power solutions for utility‑scale projects, positioning itself as a provider of both components and complete solar energy systems rather than solely a parts supplier. First Solar was founded in 1999 and is headquartered in Tempe, Arizona.

Beyond module manufacturing, First Solar offers a range of project services including development support, engineering, procurement and construction (EPC) services, and operations and maintenance (O&M) for large-scale solar installations.