First Solar, Inc. (NASDAQ:FSLR) Shares Acquired by Sumitomo Mitsui DS Asset Management Company Ltd

Sumitomo Mitsui DS Asset Management Company Ltd raised its stake in First Solar, Inc. (NASDAQ:FSLR) by 2.9% in the third quarter, HoldingsChannel reports. The institutional investor owned 11,055 shares of the solar cell manufacturer’s stock after buying an additional 312 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in First Solar were worth $2,758,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. AlphaMark Advisors LLC purchased a new stake in shares of First Solar in the third quarter valued at $25,000. Atlas Capital Advisors LLC grew its position in First Solar by 411.1% in the second quarter. Atlas Capital Advisors LLC now owns 138 shares of the solar cell manufacturer’s stock valued at $31,000 after acquiring an additional 111 shares in the last quarter. Dixon Mitchell Investment Counsel Inc. purchased a new stake in First Solar during the 1st quarter worth $25,000. Summit Securities Group LLC purchased a new stake in shares of First Solar during the second quarter worth about $36,000. Finally, Itau Unibanco Holding S.A. acquired a new position in shares of First Solar in the 2nd quarter valued at approximately $38,000. 92.08% of the stock is owned by institutional investors and hedge funds.

First Solar Trading Down 1.4 %

FSLR opened at $200.55 on Monday. The company has a market cap of $21.47 billion, a P/E ratio of 21.02, a PEG ratio of 0.38 and a beta of 1.44. The company has a current ratio of 2.23, a quick ratio of 1.65 and a debt-to-equity ratio of 0.06. The company’s 50 day moving average is $226.97 and its 200-day moving average is $222.82. First Solar, Inc. has a 1-year low of $129.21 and a 1-year high of $306.77.

First Solar (NASDAQ:FSLR) last posted its earnings results on Tuesday, July 30th. The solar cell manufacturer reported $3.25 EPS for the quarter, beating the consensus estimate of $2.69 by $0.56. First Solar had a return on equity of 17.73% and a net margin of 31.98%. The firm had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $939.71 million. During the same period last year, the company earned $1.85 earnings per share. The business’s quarterly revenue was up 24.6% on a year-over-year basis. Equities research analysts predict that First Solar, Inc. will post 13.53 earnings per share for the current fiscal year.

Insider Transactions at First Solar

In other First Solar news, CAO Byron Michael Jeffers sold 1,766 shares of the stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $216.50, for a total transaction of $382,339.00. Following the completion of the sale, the chief accounting officer now directly owns 500 shares in the company, valued at approximately $108,250. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other First Solar news, CAO Byron Michael Jeffers sold 1,766 shares of the stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $216.50, for a total value of $382,339.00. Following the transaction, the chief accounting officer now owns 500 shares in the company, valued at approximately $108,250. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Patrick James Buehler sold 8,619 shares of First Solar stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $222.00, for a total transaction of $1,913,418.00. Following the completion of the sale, the insider now directly owns 3,468 shares of the company’s stock, valued at approximately $769,896. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 10,885 shares of company stock worth $2,405,757. Company insiders own 0.58% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on FSLR shares. Barclays increased their target price on First Solar from $280.00 to $290.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. DZ Bank upgraded First Solar from a “hold” rating to a “buy” rating and set a $280.00 target price on the stock in a research report on Thursday, August 1st. Truist Financial started coverage on shares of First Solar in a research report on Thursday, September 26th. They set a “buy” rating and a $300.00 price target on the stock. William Blair assumed coverage on First Solar in a report on Thursday, August 29th. They issued a “market perform” rating for the company. Finally, Bank of America reduced their target price on shares of First Solar from $343.00 to $321.00 and set a “buy” rating for the company in a report on Tuesday, October 8th. Three research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, First Solar presently has a consensus rating of “Moderate Buy” and a consensus price target of $289.96.

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.