Mariner LLC Acquires 1,030 Shares of First Solar, Inc. (NASDAQ:FSLR)

Mariner LLC raised its holdings in First Solar, Inc. (NASDAQ:FSLR) by 1.8% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 58,796 shares of the solar cell manufacturer’s stock after buying an additional 1,030 shares during the period. Mariner LLC owned about 0.05% of First Solar worth $10,362,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Smartleaf Asset Management LLC lifted its holdings in First Solar by 31.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 262 shares of the solar cell manufacturer’s stock valued at $47,000 after purchasing an additional 63 shares during the last quarter. Crews Bank & Trust acquired a new position in shares of First Solar in the fourth quarter valued at $53,000. Hudson Edge Investment Partners Inc. bought a new position in shares of First Solar in the fourth quarter valued at about $53,000. CoreFirst Bank & Trust acquired a new stake in shares of First Solar during the 4th quarter worth about $54,000. Finally, Montag A & Associates Inc. boosted its holdings in shares of First Solar by 18.8% during the 4th quarter. Montag A & Associates Inc. now owns 475 shares of the solar cell manufacturer’s stock worth $84,000 after buying an additional 75 shares during the period. 92.08% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on FSLR shares. Piper Sandler reduced their price objective on First Solar from $250.00 to $230.00 and set an “overweight” rating for the company in a report on Wednesday, February 26th. Redburn Atlantic began coverage on First Solar in a report on Monday, March 3rd. They issued a “neutral” rating on the stock. Susquehanna dropped their target price on First Solar from $223.00 to $217.00 and set a “positive” rating for the company in a report on Monday. Barclays decreased their price target on shares of First Solar from $236.00 to $204.00 and set an “overweight” rating on the stock in a research note on Friday, April 11th. Finally, Mizuho upgraded shares of First Solar from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $218.00 to $259.00 in a research note on Tuesday, February 11th. Four research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $251.63.

Insider Transactions at First Solar

In related news, 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 directly owns 17,594 shares in the company, valued at $2,353,197.50. This trade represents a 2.11 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Georges Antoun sold 229 shares of the company’s 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 $30,628.75. Following the completion of the transaction, the insider now owns 52,836 shares of the company’s stock, valued at approximately $7,066,815. This trade represents a 0.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 34,311 shares of company stock worth $4,767,158. Insiders own 0.48% of the company’s stock.

First Solar Trading Up 2.9 %

Shares of First Solar stock opened at $127.98 on Friday. The firm’s 50 day moving average is $136.81 and its 200 day moving average is $173.24. The firm has a market capitalization of $13.70 billion, a PE ratio of 11.02, a price-to-earnings-growth ratio of 0.19 and a beta of 1.48. First Solar, Inc. has a 1 year low of $116.56 and a 1 year high of $306.77. The company has a current ratio of 2.14, a quick ratio of 1.44 and a debt-to-equity ratio of 0.05.

First Solar (NASDAQ:FSLR) last posted its earnings results on Tuesday, February 25th. The solar cell manufacturer reported $3.65 earnings per share for the quarter, missing analysts’ consensus estimates of $4.81 by ($1.16). First Solar had a return on equity of 17.56% and a net margin of 32.41%. The company had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.48 billion. Equities research analysts forecast that First Solar, Inc. will post 13.05 earnings per share for the current fiscal year.

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.