First Trust Direct Indexing L.P. Raises Holdings in First Solar, Inc. (NASDAQ:FSLR)

First Trust Direct Indexing L.P. increased its holdings in First Solar, Inc. (NASDAQ:FSLR) by 12.5% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 2,560 shares of the solar cell manufacturer’s stock after acquiring an additional 284 shares during the period. First Trust Direct Indexing L.P.’s holdings in First Solar were worth $639,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in FSLR. Electron Capital Partners LLC grew its position in First Solar by 81,947.0% in the second quarter. Electron Capital Partners LLC now owns 7,669,757 shares of the solar cell manufacturer’s stock worth $1,729,223,000 after acquiring an additional 7,660,409 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its position in shares of First Solar by 11.1% during the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 2,801,916 shares of the solar cell manufacturer’s stock worth $472,963,000 after buying an additional 279,719 shares during the period. Anomaly Capital Management LP purchased a new position in shares of First Solar during the second quarter worth $53,752,000. International Assets Investment Management LLC boosted its position in shares of First Solar by 24,844.0% during the third quarter. International Assets Investment Management LLC now owns 217,512 shares of the solar cell manufacturer’s stock worth $542,560,000 after buying an additional 216,640 shares during the period. Finally, Canada Pension Plan Investment Board boosted its position in shares of First Solar by 2,429.1% during the second quarter. Canada Pension Plan Investment Board now owns 174,530 shares of the solar cell manufacturer’s stock worth $39,350,000 after buying an additional 167,629 shares during the period. 92.08% of the stock is currently owned by hedge funds and other institutional investors.

First Solar Stock Up 5.4 %

First Solar stock opened at $204.94 on Friday. First Solar, Inc. has a 1-year low of $129.21 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 1.65. The stock has a market cap of $21.94 billion, a PE ratio of 17.65, a P/E/G ratio of 0.34 and a beta of 1.48. The stock’s fifty day moving average is $221.68 and its two-hundred day moving average is $223.93.

First Solar (NASDAQ:FSLR) last posted its earnings results on Tuesday, October 29th. The solar cell manufacturer reported $2.91 EPS for the quarter, missing analysts’ consensus estimates of $3.10 by ($0.19). First Solar had a return on equity of 17.56% and a net margin of 32.41%. The firm had revenue of $887.70 million for the quarter, compared to analyst estimates of $1.07 billion. During the same quarter last year, the firm posted $2.50 EPS. The firm’s revenue for the quarter was up 10.7% on a year-over-year basis. On average, sell-side analysts expect that First Solar, Inc. will post 13.12 EPS for the current fiscal year.

Insider Transactions at First Solar

In other news, insider Patrick James Buehler sold 8,619 shares of First Solar stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $222.00, for a total transaction of $1,913,418.00. Following the sale, the insider now owns 3,468 shares in the company, valued at approximately $769,896. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Patrick James Buehler sold 8,619 shares of First Solar stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $222.00, for a total transaction of $1,913,418.00. Following the sale, the insider now owns 3,468 shares in the company, valued at approximately $769,896. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Byron Michael Jeffers sold 500 shares of the firm’s stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $220.00, for a total value of $110,000.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 10,885 shares of company stock worth $2,405,757. Corporate insiders own 0.58% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on FSLR shares. Oppenheimer raised their price target on First Solar from $325.00 to $326.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 31st. Roth Mkm lowered their price target on First Solar from $320.00 to $280.00 and set a “buy” rating for the company in a research report on Tuesday, October 15th. DZ Bank upgraded First Solar from a “hold” rating to a “buy” rating and set a $280.00 price target for the company in a research report on Thursday, August 1st. Piper Sandler lowered their price target on First Solar from $250.00 to $245.00 and set an “overweight” rating for the company in a research report on Wednesday. Finally, Clarkson Capital began coverage on First Solar in a research note on Wednesday, August 14th. They issued a “buy” rating and a $270.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $281.13.

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.