Wealth Enhancement Advisory Services LLC Boosts Stake in First Solar, Inc. (NASDAQ:FSLR)

Wealth Enhancement Advisory Services LLC lifted its holdings in shares of First Solar, Inc. (NASDAQ:FSLR) by 3.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 6,134 shares of the solar cell manufacturer’s stock after acquiring an additional 222 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in First Solar were worth $1,081,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Smartleaf Asset Management LLC increased its holdings in shares of First Solar by 31.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 262 shares of the solar cell manufacturer’s stock valued at $47,000 after acquiring an additional 63 shares during the last quarter. Independent Advisor Alliance boosted its holdings in First Solar by 3.1% in the fourth quarter. Independent Advisor Alliance now owns 2,090 shares of the solar cell manufacturer’s stock worth $368,000 after purchasing an additional 63 shares during the period. Huntington National Bank increased its stake in First Solar by 15.3% during the fourth quarter. Huntington National Bank now owns 511 shares of the solar cell manufacturer’s stock valued at $90,000 after purchasing an additional 68 shares during the last quarter. Evexia Wealth LLC raised its holdings in shares of First Solar by 2.1% during the fourth quarter. Evexia Wealth LLC now owns 3,481 shares of the solar cell manufacturer’s stock worth $586,000 after purchasing an additional 70 shares during the period. Finally, Montag A & Associates Inc. lifted its position in shares of First Solar by 18.8% in the 4th quarter. Montag A & Associates Inc. now owns 475 shares of the solar cell manufacturer’s stock worth $84,000 after buying an additional 75 shares during the last quarter. Institutional investors and hedge funds own 92.08% of the company’s stock.

First Solar Stock Performance

FSLR opened at $166.35 on Monday. The company has a quick ratio of 1.44, a current ratio of 2.14 and a debt-to-equity ratio of 0.05. The stock’s 50 day moving average price is $143.96 and its two-hundred day moving average price is $159.31. The firm has a market capitalization of $17.84 billion, a P/E ratio of 14.33, a price-to-earnings-growth ratio of 0.19 and a beta of 1.53. First Solar, Inc. has a 12-month low of $116.56 and a 12-month high of $306.77.

First Solar (NASDAQ:FSLR) last announced its quarterly earnings data on Tuesday, April 29th. The solar cell manufacturer reported $1.95 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.50 by ($0.55). The company had revenue of $844.57 million during the quarter, compared to analyst estimates of $863.11 million. First Solar had a return on equity of 17.56% and a net margin of 32.41%. The company’s revenue was up 6.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.20 EPS. On average, equities analysts forecast that First Solar, Inc. will post 13.05 earnings per share for the current year.

Insider Activity at First Solar

In other First Solar news, General Counsel Jason E. Dymbort sold 363 shares of First Solar stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $133.75, for a total transaction of $48,551.25. Following the sale, the general counsel now directly owns 22,273 shares of the company’s stock, valued at approximately $2,979,013.75. The trade was a 1.60% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Alexander R. Bradley sold 599 shares of the stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $133.75, for a total value of $80,116.25. Following the completion of the transaction, the chief financial officer now directly owns 45,717 shares of the company’s stock, valued at approximately $6,114,648.75. The trade was a 1.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 17,948 shares of company stock worth $2,704,927 over the last three months. Company insiders own 0.48% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. TD Cowen dropped their target price on First Solar from $275.00 to $200.00 and set a “buy” rating on the stock in a research report on Wednesday, April 30th. Truist Financial reiterated a “buy” rating and issued a $200.00 price objective (down from $245.00) on shares of First Solar in a research report on Thursday, May 1st. Citigroup decreased their target price on shares of First Solar from $254.00 to $236.00 and set a “neutral” rating for the company in a research report on Wednesday, February 26th. Wells Fargo & Company cut their price target on First Solar from $191.00 to $177.00 and set an “overweight” rating on the stock in a report on Wednesday, April 30th. Finally, Guggenheim decreased their price objective on First Solar from $253.00 to $202.00 and set a “buy” rating for the company in a report on Thursday, May 1st. Two analysts have rated the stock with a sell rating, five have issued a hold rating, twenty-four have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, First Solar presently has an average rating of “Moderate Buy” and an average price target of $227.94.

First Solar Company 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.