V Square Quantitative Management LLC Has $274,000 Holdings in First Solar, Inc. (NASDAQ:FSLR)

V Square Quantitative Management LLC lifted its stake in shares of First Solar, Inc. (NASDAQ:FSLR) by 31.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,590 shares of the solar cell manufacturer’s stock after purchasing an additional 380 shares during the period. V Square Quantitative Management LLC’s holdings in First Solar were worth $274,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the stock. Voisard Asset Management Group Inc. acquired a new position in shares of First Solar during the fourth quarter valued at $46,000. Quarry LP boosted its stake in shares of First Solar by 22.7% in the 4th quarter. Quarry LP now owns 1,319 shares of the solar cell manufacturer’s stock valued at $227,000 after purchasing an additional 244 shares during the last quarter. Spouting Rock Asset Management LLC acquired a new stake in shares of First Solar during the 4th quarter worth approximately $579,000. Burford Brothers Inc. bought a new stake in shares of First Solar during the fourth quarter worth approximately $3,539,000. Finally, Park West Asset Management LLC acquired a new position in First Solar in the fourth quarter valued at approximately $26,359,000. 92.08% of the stock is owned by institutional investors.

Insider Buying and Selling at First Solar

In other news, CFO Alexander R. Bradley sold 16,051 shares of the stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $274.69, for a total value of $4,409,049.19. Following the completion of the sale, the chief financial officer now owns 30,652 shares of the company’s stock, valued at approximately $8,419,797.88. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, insider Georges Antoun sold 2,400 shares of the business’s stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $176.00, for a total transaction of $422,400.00. Following the transaction, the insider now directly owns 37,412 shares in the company, valued at approximately $6,584,512. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Alexander R. Bradley sold 16,051 shares of First Solar stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $274.69, for a total value of $4,409,049.19. Following the transaction, the chief financial officer now owns 30,652 shares of the company’s stock, valued at approximately $8,419,797.88. The disclosure for this sale can be found here. Insiders sold a total of 56,269 shares of company stock worth $13,287,671 over the last ninety days. 0.58% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms have commented on FSLR. The Goldman Sachs Group lifted their target price on shares of First Solar from $268.00 to $302.00 and gave the stock a “buy” rating in a report on Tuesday, June 4th. Roth Mkm reaffirmed a “buy” rating and set a $320.00 price objective (up from $230.00) on shares of First Solar in a research note on Friday, May 31st. BMO Capital Markets increased their target price on First Solar from $224.00 to $311.00 and gave the company an “outperform” rating in a research note on Monday, June 10th. Susquehanna restated a “positive” rating and set a $258.00 target price on shares of First Solar in a research report on Friday, April 5th. Finally, Robert W. Baird increased their price target on shares of First Solar from $246.00 to $344.00 and gave the company an “outperform” rating in a research report on Tuesday, June 11th. Four investment analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $265.72.

First Solar Price Performance

NASDAQ FSLR opened at $261.33 on Tuesday. First Solar, Inc. has a 12-month low of $129.21 and a 12-month high of $306.77. The firm’s 50 day moving average is $217.49 and its 200-day moving average is $178.13. The company has a market capitalization of $27.97 billion, a PE ratio of 27.39, a price-to-earnings-growth ratio of 0.36 and a beta of 1.47. The company has a quick ratio of 1.86, a current ratio of 2.41 and a debt-to-equity ratio of 0.06.

First Solar (NASDAQ:FSLR) last issued its quarterly earnings results on Wednesday, May 1st. The solar cell manufacturer reported $2.20 EPS for the quarter, topping the consensus estimate of $1.90 by $0.30. The firm had revenue of $794.10 million for the quarter, compared to analysts’ expectations of $718.19 million. First Solar had a net margin of 28.75% and a return on equity of 16.24%. The company’s revenue for the quarter was up 44.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.40 EPS. Equities research analysts anticipate that First Solar, Inc. will post 13.55 earnings per share for the current fiscal year.

First Solar Company Profile

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.