SFE Investment Counsel Has $6.44 Million Position in First Solar, Inc. (NASDAQ:FSLR)

SFE Investment Counsel raised its stake in shares of First Solar, Inc. (NASDAQ:FSLR) by 63.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 37,400 shares of the solar cell manufacturer’s stock after buying an additional 14,565 shares during the quarter. First Solar comprises 1.7% of SFE Investment Counsel’s portfolio, making the stock its 16th biggest position. SFE Investment Counsel’s holdings in First Solar were worth $6,443,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of First Solar by 4.0% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 548,058 shares of the solar cell manufacturer’s stock valued at $94,419,000 after purchasing an additional 20,946 shares during the period. Assenagon Asset Management S.A. increased its position in shares of First Solar by 504.1% during the fourth quarter. Assenagon Asset Management S.A. now owns 399,650 shares of the solar cell manufacturer’s stock worth $68,852,000 after acquiring an additional 333,496 shares in the last quarter. Sora Investors LLC increased its position in shares of First Solar by 63.6% during the third quarter. Sora Investors LLC now owns 90,000 shares of the solar cell manufacturer’s stock worth $14,543,000 after acquiring an additional 35,000 shares in the last quarter. Vanguard Group Inc. increased its position in shares of First Solar by 2.4% during the third quarter. Vanguard Group Inc. now owns 12,040,031 shares of the solar cell manufacturer’s stock worth $1,945,549,000 after acquiring an additional 279,424 shares in the last quarter. Finally, Bull Oak Capital LLC increased its position in shares of First Solar by 304,592.2% during the fourth quarter. Bull Oak Capital LLC now owns 155,393 shares of the solar cell manufacturer’s stock worth $26,771,000 after acquiring an additional 155,342 shares in the last quarter. 92.08% of the stock is currently owned by institutional investors and hedge funds.

First Solar Trading Down 2.2 %

Shares of First Solar stock traded down $3.97 on Thursday, hitting $174.04. The stock had a trading volume of 1,104,240 shares, compared to its average volume of 2,070,322. The company has a quick ratio of 2.92, a current ratio of 3.55 and a debt-to-equity ratio of 0.07. First Solar, Inc. has a one year low of $129.21 and a one year high of $232.00. The stock has a market cap of $18.63 billion, a price-to-earnings ratio of 22.86, a PEG ratio of 0.30 and a beta of 1.41. The stock’s 50-day simple moving average is $160.24 and its two-hundred day simple moving average is $155.92.

First Solar (NASDAQ:FSLR) last announced its quarterly earnings results on Tuesday, February 27th. The solar cell manufacturer reported $3.25 EPS for the quarter, topping analysts’ consensus estimates of $3.19 by $0.06. First Solar had a return on equity of 13.80% and a net margin of 25.03%. The company had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.31 billion. During the same quarter last year, the firm posted ($0.07) earnings per share. The firm’s revenue was up 15.5% on a year-over-year basis. As a group, sell-side analysts predict that First Solar, Inc. will post 13.55 EPS for the current year.

Insider Buying and Selling

In related news, Director R Craig Kennedy sold 1,500 shares of the company’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $157.76, for a total value of $236,640.00. Following the transaction, the director now owns 15,641 shares in the company, valued at approximately $2,467,524.16. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other First Solar news, Director R Craig Kennedy sold 1,500 shares of the company’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $157.76, for a total transaction of $236,640.00. Following the transaction, the director now owns 15,641 shares in the company, valued at approximately $2,467,524.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Georges Antoun sold 2,400 shares of the company’s stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $176.00, for a total transaction of $422,400.00. Following the sale, the insider now directly owns 37,412 shares of the company’s stock, valued at approximately $6,584,512. The disclosure for this sale can be found here. Insiders have sold a total of 26,620 shares of company stock worth $4,269,540 in the last quarter. Corporate insiders own 0.58% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on FSLR. Janney Montgomery Scott started coverage on shares of First Solar in a report on Friday, April 12th. They set a “buy” rating and a $236.00 target price for the company. Bank of America boosted their price target on shares of First Solar from $187.00 to $194.00 and gave the stock a “buy” rating in a research report on Wednesday, April 10th. Susquehanna restated a “positive” rating and set a $258.00 price target on shares of First Solar in a research note on Friday, April 5th. Royal Bank of Canada restated an “outperform” rating and set a $195.00 price target on shares of First Solar in a research note on Wednesday, February 28th. Finally, DZ Bank initiated coverage on shares of First Solar in a research note on Wednesday. They set a “buy” rating and a $205.00 price target for the company. Four research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $227.04.

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.