Sequoia Financial Advisors LLC Grows Stake in First Solar, Inc. (NASDAQ:FSLR)

Sequoia Financial Advisors LLC grew its holdings in First Solar, Inc. (NASDAQ:FSLR) by 6.8% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 1,692 shares of the solar cell manufacturer’s stock after buying an additional 107 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in First Solar were worth $298,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Larson Financial Group LLC lifted its holdings in First Solar by 214.0% in the 3rd quarter. Larson Financial Group LLC now owns 157 shares of the solar cell manufacturer’s stock worth $39,000 after buying an additional 107 shares during the period. Smartleaf Asset Management LLC lifted its holdings in First Solar by 31.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 262 shares of the solar cell manufacturer’s stock worth $47,000 after buying an additional 63 shares during the period. Crews Bank & Trust purchased a new stake in First Solar in the 4th quarter worth approximately $53,000. Hudson Edge Investment Partners Inc. purchased a new stake in First Solar in the 4th quarter worth approximately $53,000. Finally, Financial Avengers Inc. bought a new position in shares of First Solar in the 3rd quarter worth approximately $77,000. Hedge funds and other institutional investors own 92.08% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Truist Financial reissued a “buy” rating and issued a $285.00 target price (down previously from $300.00) on shares of First Solar in a research report on Wednesday, February 26th. Wells Fargo & Company decreased their target price on First Solar from $240.00 to $209.00 and set an “overweight” rating for the company in a research report on Wednesday, January 8th. Mizuho raised First Solar from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $218.00 to $259.00 in a research report on Tuesday, February 11th. UBS Group decreased their target price on First Solar from $360.00 to $285.00 and set a “buy” rating for the company in a research report on Wednesday, February 26th. Finally, Guggenheim decreased their target price on First Solar from $335.00 to $304.00 and set a “buy” rating for the company in a research report on Thursday, February 27th. 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 stock. According to data from MarketBeat, First Solar currently has an average rating of “Moderate Buy” and a consensus price target of $262.08.

First Solar Stock Performance

FSLR stock opened at $129.34 on Thursday. The company has a market cap of $13.85 billion, a P/E ratio of 11.14, a price-to-earnings-growth ratio of 0.19 and a beta of 1.52. First Solar, Inc. has a 1 year low of $124.96 and a 1 year high of $306.77. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.14 and a quick ratio of 1.44. The stock’s fifty day moving average price is $158.67 and its 200-day moving average price is $189.31.

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

Insider Transactions at First Solar

In related news, insider Georges Antoun sold 229 shares of First Solar stock in a transaction on Monday, March 17th. The stock was sold at an average price of $133.75, for a total transaction of $30,628.75. Following the transaction, the insider now directly owns 52,836 shares in the company, valued at approximately $7,066,815. The trade was a 0.43 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Markus Gloeckler sold 380 shares of First Solar stock in a transaction on Monday, March 17th. The shares were sold at an average price of $133.75, for a total value of $50,825.00. Following the transaction, the chief technology officer now owns 17,594 shares in the company, valued at $2,353,197.50. This trade represents a 2.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 34,311 shares of company stock worth $4,767,158 in the last ninety days. Insiders own 0.58% of the company’s stock.

First Solar 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.