Nisa Investment Advisors LLC Buys 1,203 Shares of First Solar, Inc. (NASDAQ:FSLR)

Nisa Investment Advisors LLC boosted its stake in shares of First Solar, Inc. (NASDAQ:FSLR) by 32.1% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 4,955 shares of the solar cell manufacturer’s stock after acquiring an additional 1,203 shares during the period. Nisa Investment Advisors LLC’s holdings in First Solar were worth $854,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the company. First Pacific Financial purchased a new position in shares of First Solar in the 3rd quarter worth approximately $27,000. Estabrook Capital Management bought a new position in First Solar in the 3rd quarter worth about $29,000. Headinvest LLC bought a new stake in shares of First Solar in the third quarter valued at about $30,000. Harbor Investment Advisory LLC purchased a new position in shares of First Solar in the 3rd quarter valued at $32,000. Finally, Covestor Ltd lifted its position in First Solar by 97.7% during the first quarter. Covestor Ltd now owns 421 shares of the solar cell manufacturer’s stock valued at $35,000 after acquiring an additional 208 shares during the last quarter. 92.08% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at First Solar

In related news, insider Kuntal Kumar Verma sold 250 shares of First Solar stock in a transaction on Monday, March 18th. The shares were sold at an average price of $148.34, for a total transaction of $37,085.00. Following the sale, the insider now directly owns 5,170 shares in the company, valued at approximately $766,917.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CTO Markus Gloeckler sold 679 shares of the stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $160.00, for a total value of $108,640.00. Following the completion of the sale, the chief technology officer now directly owns 14,473 shares of the company’s stock, valued at $2,315,680. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Kuntal Kumar Verma sold 250 shares of First Solar stock in a transaction on Monday, March 18th. The shares were sold at an average price of $148.34, for a total transaction of $37,085.00. Following the completion of the transaction, the insider now directly owns 5,170 shares in the company, valued at $766,917.80. The disclosure for this sale can be found here. In the last quarter, insiders sold 26,620 shares of company stock worth $4,269,540. 0.58% of the stock is currently owned by insiders.

First Solar Stock Down 3.6 %

First Solar stock opened at $175.96 on Tuesday. The stock has a market cap of $18.83 billion, a PE ratio of 22.73, a P/E/G ratio of 0.31 and a beta of 1.41. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.55 and a quick ratio of 2.92. The stock’s fifty day moving average is $158.95 and its two-hundred day moving average is $155.69. First Solar, Inc. has a 1-year low of $129.21 and a 1-year high of $232.00.

First Solar (NASDAQ:FSLR) last issued its earnings results on Tuesday, February 27th. The solar cell manufacturer reported $3.25 earnings per share for the quarter, topping the consensus estimate of $3.19 by $0.06. The business had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.31 billion. First Solar had a return on equity of 13.80% and a net margin of 25.03%. The business’s quarterly revenue was up 15.5% on a year-over-year basis. During the same quarter last year, the company earned ($0.07) EPS. On average, sell-side analysts expect that First Solar, Inc. will post 13.53 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on FSLR. Wells Fargo & Company lowered shares of First Solar from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $215.00 to $187.00 in a report on Monday, January 8th. Bank of America upped their price target on First Solar from $187.00 to $194.00 and gave the stock a “buy” rating in a report on Wednesday, April 10th. Janney Montgomery Scott began coverage on First Solar in a research report on Friday. They issued a “buy” rating and a $236.00 target price on the stock. Oppenheimer upped their price target on First Solar from $268.00 to $269.00 and gave the company an “outperform” rating in a research report on Wednesday, February 28th. Finally, Susquehanna reaffirmed a “positive” rating and set a $258.00 price target on shares of First Solar in a research report on Friday, April 5th. Four equities research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company. According to data from MarketBeat.com, First Solar currently has a consensus rating of “Moderate Buy” and a consensus target price of $227.96.

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.