Harmony Asset Management LLC Purchases 2,505 Shares of First Solar, Inc. $FSLR

Harmony Asset Management LLC lifted its position in First Solar, Inc. (NASDAQ:FSLR) by 26.1% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 12,090 shares of the solar cell manufacturer’s stock after buying an additional 2,505 shares during the quarter. First Solar comprises 1.1% of Harmony Asset Management LLC’s investment portfolio, making the stock its 22nd largest holding. Harmony Asset Management LLC’s holdings in First Solar were worth $3,158,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. Leonteq Securities AG bought a new stake in shares of First Solar in the 4th quarter valued at approximately $1,517,000. Pinkerton Wealth LLC bought a new stake in shares of First Solar in the 4th quarter valued at approximately $3,501,000. ABN Amro Investment Solutions grew its stake in shares of First Solar by 1.4% in the 4th quarter. ABN Amro Investment Solutions now owns 90,549 shares of the solar cell manufacturer’s stock valued at $23,654,000 after buying an additional 1,269 shares in the last quarter. Rathbones Group PLC grew its stake in shares of First Solar by 26.4% in the 4th quarter. Rathbones Group PLC now owns 6,230 shares of the solar cell manufacturer’s stock valued at $1,627,000 after buying an additional 1,300 shares in the last quarter. Finally, IFP Advisors Inc grew its stake in shares of First Solar by 74.6% in the 4th quarter. IFP Advisors Inc now owns 2,310 shares of the solar cell manufacturer’s stock valued at $603,000 after buying an additional 987 shares in the last quarter. Institutional investors own 92.08% of the company’s stock.

First Solar Stock Up 7.3%

Shares of FSLR stock opened at $237.86 on Thursday. First Solar, Inc. has a 12 month low of $135.50 and a 12 month high of $285.99. The firm has a market cap of $25.56 billion, a PE ratio of 15.37, a price-to-earnings-growth ratio of 0.49 and a beta of 1.57. The stock has a 50 day moving average of $202.87 and a 200-day moving average of $231.14. The company has a quick ratio of 2.15, a current ratio of 2.56 and a debt-to-equity ratio of 0.02.

First Solar (NASDAQ:FSLR) last issued its quarterly earnings results on Thursday, April 30th. The solar cell manufacturer reported $3.22 EPS for the quarter, topping analysts’ consensus estimates of $2.87 by $0.35. First Solar had a return on equity of 18.01% and a net margin of 30.73%.The company had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.03 billion. During the same period in the previous year, the company earned $1.95 earnings per share. The company’s quarterly revenue was up 23.6% compared to the same quarter last year. On average, equities analysts predict that First Solar, Inc. will post 17.64 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Argus boosted their price target on First Solar from $250.00 to $275.00 and gave the company a “buy” rating in a research note on Wednesday, May 13th. Citigroup decreased their target price on First Solar from $300.00 to $243.00 and set a “buy” rating for the company in a research report on Tuesday, April 21st. Bank of America decreased their target price on First Solar from $291.00 to $271.00 and set a “buy” rating for the company in a research report on Thursday, January 22nd. Zacks Research raised First Solar from a “strong sell” rating to a “hold” rating in a research report on Monday, April 27th. Finally, TD Cowen decreased their target price on First Solar from $320.00 to $253.00 and set a “buy” rating for the company in a research report on Wednesday, February 25th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, twelve have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $247.03.

Insiders Place Their Bets

In related news, CEO Mark R. Widmar sold 9,926 shares of the company’s stock in a transaction on Monday, May 11th. The stock was sold at an average price of $233.21, for a total value of $2,314,842.46. Following the completion of the transaction, the chief executive officer directly owned 95,148 shares in the company, valued at approximately $22,189,465.08. This represents a 9.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Jason E. Dymbort sold 9,022 shares of the company’s stock in a transaction on Tuesday, March 17th. The shares were sold at an average price of $199.62, for a total value 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 $1,966,257. The trade was a 47.81% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 92,430 shares of company stock valued at $18,670,055 in the last ninety days. 0.39% of the stock is currently owned by insiders.

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.