First Solar, Inc. (NASDAQ:FSLR) Shares Bought by Ballentine Partners LLC

Ballentine Partners LLC lifted its stake in shares of First Solar, Inc. (NASDAQ:FSLR) by 8.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,624 shares of the solar cell manufacturer’s stock after acquiring an additional 209 shares during the quarter. Ballentine Partners LLC’s holdings in First Solar were worth $655,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the stock. Western Financial Corp CA bought a new position in shares of First Solar in the third quarter valued at $1,209,000. Sumitomo Mitsui Trust Holdings Inc. grew its holdings in shares of First Solar by 6.3% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 259,177 shares of the solar cell manufacturer’s stock valued at $43,749,000 after acquiring an additional 15,430 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in First Solar by 20.3% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 121,055 shares of the solar cell manufacturer’s stock worth $20,434,000 after purchasing an additional 20,465 shares in the last quarter. Harbour Capital Advisors LLC boosted its holdings in First Solar by 224.0% in the third quarter. Harbour Capital Advisors LLC now owns 5,217 shares of the solar cell manufacturer’s stock worth $1,301,000 after purchasing an additional 3,607 shares in the last quarter. Finally, Vanguard Group Inc. boosted its holdings in First Solar by 0.9% in the first quarter. Vanguard Group Inc. now owns 12,257,053 shares of the solar cell manufacturer’s stock worth $2,068,991,000 after purchasing an additional 105,236 shares in the last quarter. Institutional investors and hedge funds own 92.08% of the company’s stock.

Insider Buying and Selling at First Solar

In other First Solar news, CAO Byron Michael Jeffers sold 500 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $220.00, for a total value of $110,000.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other First Solar news, insider Patrick James Buehler sold 8,619 shares of the stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $222.00, for a total value of $1,913,418.00. Following the sale, the insider now directly owns 3,468 shares in the company, valued at approximately $769,896. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Byron Michael Jeffers sold 500 shares of the firm’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $220.00, for a total transaction of $110,000.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 10,885 shares of company stock valued at $2,405,757. 0.58% of the stock is currently owned by insiders.

First Solar Price Performance

Shares of FSLR stock opened at $198.47 on Friday. First Solar, Inc. has a 52-week low of $129.21 and a 52-week high of $306.77. The stock has a market cap of $21.25 billion, a PE ratio of 17.72, a PEG ratio of 0.34 and a beta of 1.44. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.65 and a current ratio of 2.23. The firm’s 50 day moving average price is $224.06 and its two-hundred day moving average price is $223.58.

First Solar (NASDAQ:FSLR) last announced its quarterly earnings data on Tuesday, July 30th. The solar cell manufacturer reported $3.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.69 by $0.56. First Solar had a net margin of 31.98% and a return on equity of 17.73%. The firm had revenue of $1.01 billion for the quarter, compared to analysts’ expectations of $939.71 million. During the same period last year, the firm earned $1.85 earnings per share. The business’s revenue for the quarter was up 24.6% on a year-over-year basis. As a group, analysts forecast that First Solar, Inc. will post 13.39 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on FSLR shares. William Blair assumed coverage on shares of First Solar in a research report on Thursday, August 29th. They set a “market perform” rating for the company. Susquehanna dropped their price target on shares of First Solar from $285.00 to $280.00 and set a “positive” rating for the company in a research report on Wednesday, October 16th. Truist Financial started coverage on shares of First Solar in a research report on Thursday, September 26th. They issued a “buy” rating and a $300.00 price target for the company. Roth Mkm decreased their price objective on shares of First Solar from $320.00 to $280.00 and set a “buy” rating on the stock in a research note on Tuesday, October 15th. Finally, Piper Sandler upped their price objective on shares of First Solar from $219.00 to $250.00 and gave the stock an “overweight” rating in a research note on Monday, July 22nd. Three investment analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $288.46.

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.