Spire Wealth Management Has $7.19 Million Stock Holdings in First Solar, Inc. $FSLR

Spire Wealth Management lifted its stake in First Solar, Inc. (NASDAQ:FSLR) by 16.0% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 27,515 shares of the solar cell manufacturer’s stock after purchasing an additional 3,795 shares during the quarter. Spire Wealth Management’s holdings in First Solar were worth $7,188,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of FSLR. Aventura Private Wealth LLC acquired a new position in shares of First Solar in the fourth quarter worth about $25,000. Strategic Wealth Investment Group LLC acquired a new stake in shares of First Solar during the second quarter valued at approximately $26,000. Total Investment Management Inc. purchased a new stake in shares of First Solar in the 2nd quarter valued at approximately $36,000. Pinpoint Asset Management Singapore Pte. Ltd. purchased a new stake in shares of First Solar in the 3rd quarter valued at approximately $44,000. Finally, CYBER HORNET ETFs LLC acquired a new position in First Solar in the 2nd quarter worth approximately $47,000. Institutional investors and hedge funds own 92.08% of the company’s stock.

Insider Activity

In other news, General Counsel Jason E. Dymbort sold 9,022 shares of the firm’s stock in a transaction dated 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 sale, the general counsel directly owned 9,850 shares of the company’s stock, valued at $1,966,257. This trade represents a 47.81% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Kuntal Kumar Verma sold 180 shares of First Solar stock in a transaction dated Tuesday, March 17th. The shares were 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 disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 75,989 shares of company stock valued at $14,921,902. 0.48% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

FSLR has been the topic of several recent analyst reports. Jefferies Financial Group reissued a “hold” rating and set a $205.00 target price on shares of First Solar in a research note on Thursday, February 26th. Glj Research cut First Solar from a “buy” rating to a “hold” rating and decreased their target price for the stock from $314.43 to $207.82 in a research report on Wednesday, March 4th. Daiwa Securities Group lifted their price target on First Solar from $215.00 to $284.00 and gave the company an “outperform” rating in a report on Tuesday, December 9th. BMO Capital Markets set a $263.00 price target on First Solar in a research report on Thursday, January 29th. Finally, Morgan Stanley reduced their price objective on First Solar from $275.00 to $230.00 and set an “overweight” rating for the company in a research note on Monday, March 2nd. 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 stock. Based on data from MarketBeat.com, First Solar currently has a consensus rating of “Moderate Buy” and a consensus target price of $248.17.

First Solar Stock Up 2.4%

First Solar stock opened at $190.29 on Friday. First Solar, Inc. has a twelve month low of $116.56 and a twelve month high of $285.99. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.35 and a current ratio of 2.67. The firm has a market cap of $20.42 billion, a PE ratio of 13.39, a P/E/G ratio of 0.33 and a beta of 1.65. The firm’s 50 day moving average price is $216.70 and its two-hundred day moving average price is $235.81.

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

First Solar Profile

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.