First Solar, Inc. (NASDAQ:FSLR) Shares Purchased by Cibc World Markets Corp

Cibc World Markets Corp grew its holdings in shares of First Solar, Inc. (NASDAQ:FSLRFree Report) by 130.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 13,598 shares of the solar cell manufacturer’s stock after purchasing an additional 7,702 shares during the period. Cibc World Markets Corp’s holdings in First Solar were worth $2,343,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. Vanguard Group Inc. boosted its position in First Solar by 2.4% during the 3rd quarter. Vanguard Group Inc. now owns 12,040,031 shares of the solar cell manufacturer’s stock valued at $1,945,549,000 after purchasing an additional 279,424 shares during the period. Wellington Management Group LLP lifted its stake in First Solar by 10.2% in the third quarter. Wellington Management Group LLP now owns 2,283,705 shares of the solar cell manufacturer’s stock valued at $369,024,000 after buying an additional 211,755 shares during the last quarter. Schroder Investment Management Group boosted its holdings in shares of First Solar by 9.4% during the third quarter. Schroder Investment Management Group now owns 2,102,959 shares of the solar cell manufacturer’s stock valued at $339,817,000 after acquiring an additional 181,034 shares during the period. Norges Bank bought a new position in shares of First Solar during the fourth quarter worth about $298,123,000. Finally, Clean Energy Transition LLP increased its holdings in shares of First Solar by 948.8% in the 3rd quarter. Clean Energy Transition LLP now owns 1,186,646 shares of the solar cell manufacturer’s stock worth $191,750,000 after acquiring an additional 1,073,500 shares during the period. 92.08% of the stock is currently owned by institutional investors.

Insider Buying and Selling at First Solar

In other news, insider Kuntal Kumar Verma sold 250 shares of First Solar stock in a transaction on Monday, March 18th. The stock was sold at an average price of $148.34, for a total transaction of $37,085.00. Following the transaction, the insider now owns 5,170 shares in the company, valued at $766,917.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Georges Antoun sold 2,400 shares of the company’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $169.72, for a total value of $407,328.00. Following the transaction, the insider now directly owns 39,812 shares of the company’s stock, valued at $6,756,892.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Kuntal Kumar Verma sold 250 shares of the stock in a transaction on Monday, March 18th. The stock was sold at an average price of $148.34, for a total value of $37,085.00. Following the sale, the insider now owns 5,170 shares of the company’s stock, valued at $766,917.80. The disclosure for this sale can be found here. Insiders have sold a total of 56,519 shares of company stock valued at $13,324,756 in the last three months. 0.58% of the stock is currently owned by company insiders.

First Solar Trading Down 2.2 %

Shares of FSLR opened at $267.34 on Monday. The company has a current ratio of 2.41, a quick ratio of 1.86 and a debt-to-equity ratio of 0.06. First Solar, Inc. has a 1-year low of $129.21 and a 1-year high of $286.60. The stock has a market capitalization of $28.62 billion, a P/E ratio of 28.02, a P/E/G ratio of 0.35 and a beta of 1.47. The business’s 50-day moving average price is $205.73 and its 200 day moving average price is $173.38.

First Solar (NASDAQ:FSLRGet Free Report) last released its earnings results on Wednesday, May 1st. The solar cell manufacturer reported $2.20 earnings per share for the quarter, topping the consensus estimate of $1.90 by $0.30. First Solar had a net margin of 28.75% and a return on equity of 16.24%. The business had revenue of $794.10 million for the quarter, compared to the consensus estimate of $718.19 million. During the same period last year, the firm posted $0.40 earnings per share. The firm’s quarterly revenue was up 44.8% compared to the same quarter last year. Analysts expect that First Solar, Inc. will post 13.55 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms have commented on FSLR. Barclays upped their target price on shares of First Solar from $227.00 to $228.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 15th. Bank of America raised their target price on First Solar from $187.00 to $194.00 and gave the company a “buy” rating in a research report on Wednesday, April 10th. Royal Bank of Canada reiterated an “outperform” rating and set a $195.00 price target on shares of First Solar in a research report on Wednesday, February 28th. Jefferies Financial Group increased their price target on First Solar from $209.50 to $211.00 and gave the stock a “buy” rating in a research note on Thursday, May 2nd. Finally, Susquehanna restated a “positive” rating and set a $258.00 price objective on shares of First Solar in a research note on Friday, April 5th. Four analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $255.84.

Check Out Our Latest Stock Report on First Solar

About First Solar

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for First Solar (NASDAQ:FSLR)

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