Quintet Private Bank Europe S.A. Acquires New Shares in First Solar, Inc. $FSLR

Quintet Private Bank Europe S.A. acquired a new position in shares of First Solar, Inc. (NASDAQ:FSLR) in the fourth quarter, HoldingsChannel.com reports. The firm acquired 68,309 shares of the solar cell manufacturer’s stock, valued at approximately $17,844,000. First Solar makes up about 1.0% of Quintet Private Bank Europe S.A.’s portfolio, making the stock its 27th largest position.

Several other large investors have also recently added to or reduced their stakes in FSLR. Linden Thomas Advisory Services LLC raised its stake in First Solar by 1.7% during the 3rd quarter. Linden Thomas Advisory Services LLC now owns 2,287 shares of the solar cell manufacturer’s stock valued at $504,000 after acquiring an additional 39 shares in the last quarter. Signaturefd LLC grew its stake in shares of First Solar by 2.6% in the third quarter. Signaturefd LLC now owns 1,879 shares of the solar cell manufacturer’s stock worth $414,000 after purchasing an additional 47 shares in the last quarter. Figure 8 Investment Strategies LLC increased its holdings in shares of First Solar by 0.6% during the third quarter. Figure 8 Investment Strategies LLC now owns 8,116 shares of the solar cell manufacturer’s stock valued at $1,790,000 after purchasing an additional 48 shares during the period. Rathbones Group PLC increased its holdings in shares of First Solar by 1.0% during the third quarter. Rathbones Group PLC now owns 4,930 shares of the solar cell manufacturer’s stock valued at $1,087,000 after purchasing an additional 51 shares during the period. Finally, Allworth Financial LP raised its stake in shares of First Solar by 5.9% during the third quarter. Allworth Financial LP now owns 956 shares of the solar cell manufacturer’s stock valued at $211,000 after purchasing an additional 53 shares in the last quarter. 92.08% of the stock is owned by institutional investors and hedge funds.

First Solar Price Performance

NASDAQ:FSLR opened at $195.32 on Friday. The business’s 50-day moving average price is $211.91 and its 200 day moving average price is $235.26. The firm has a market cap of $20.96 billion, a P/E ratio of 13.75, a PEG ratio of 0.35 and a beta of 1.61. First Solar, Inc. has a 52-week low of $116.56 and a 52-week high of $285.99. The company has a quick ratio of 2.35, a current ratio of 2.67 and a debt-to-equity ratio of 0.03.

First Solar (NASDAQ:FSLR) last issued its quarterly earnings results on Tuesday, February 24th. The solar cell manufacturer reported $4.84 earnings per share 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 business had revenue of $1.68 billion during the quarter, compared to analyst estimates of $1.59 billion. During the same period in the previous year, the company posted $3.65 earnings per share. First Solar’s revenue was up 11.1% compared to the same quarter last year. As a group, sell-side analysts predict that First Solar, Inc. will post 13.05 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on FSLR shares. Zacks Research downgraded shares of First Solar from a “hold” rating to a “strong sell” rating in a report on Monday, March 16th. Royal Bank Of Canada dropped their price target on shares of First Solar from $258.00 to $236.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 25th. Barclays reduced their price target on shares of First Solar from $279.00 to $228.00 and set an “overweight” rating for the company in a research note on Monday, March 2nd. Needham & Company LLC increased their price objective on shares of First Solar from $286.00 to $303.00 and gave the company a “buy” rating in a report on Monday, February 23rd. Finally, BMO Capital Markets lowered their price objective on shares of First Solar from $263.00 to $252.00 and set a “market perform” rating on the stock in a research note on Friday, March 27th. Twenty equities research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, First Solar presently has an average rating of “Moderate Buy” and an average target price of $247.79.

Insiders Place Their Bets

In other news, General Counsel Jason E. Dymbort sold 9,022 shares of the firm’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 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 legal filing with the SEC, which is available through this link. Also, CEO Mark R. Widmar sold 1,937 shares of the stock in a transaction on Monday, March 16th. The shares were sold at an average price of $200.80, for a total value of $388,949.60. Following the completion of the transaction, the chief executive officer owned 102,798 shares of the company’s stock, valued at $20,641,838.40. This trade represents a 1.85% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 75,989 shares of company stock worth $14,921,902. Company insiders own 0.48% of the company’s stock.

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.