Avantax Advisory Services Inc. Boosts Holdings in First Solar, Inc. (NASDAQ:FSLR)

Avantax Advisory Services Inc. lifted its holdings in shares of First Solar, Inc. (NASDAQ:FSLR) by 105.5% in the fourth quarter, HoldingsChannel reports. The firm owned 5,210 shares of the solar cell manufacturer’s stock after acquiring an additional 2,675 shares during the period. Avantax Advisory Services Inc.’s holdings in First Solar were worth $918,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of FSLR. Larson Financial Group LLC boosted its stake in shares of First Solar by 214.0% during the third quarter. Larson Financial Group LLC now owns 157 shares of the solar cell manufacturer’s stock valued at $39,000 after acquiring an additional 107 shares during the last quarter. Smartleaf Asset Management LLC increased its stake in First Solar by 31.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 262 shares of the solar cell manufacturer’s stock valued at $47,000 after purchasing an additional 63 shares during the last quarter. Crews Bank & Trust acquired a new stake in First Solar in the 4th quarter worth about $53,000. Hudson Edge Investment Partners Inc. acquired a new position in First Solar during the fourth quarter worth approximately $53,000. Finally, Financial Avengers Inc. acquired a new stake in shares of First Solar during the 3rd quarter worth $77,000. Hedge funds and other institutional investors own 92.08% of the company’s stock.

First Solar Stock Down 0.7 %

FSLR stock opened at $128.46 on Friday. The firm’s 50-day moving average is $157.42 and its two-hundred day moving average is $188.89. The company has a market capitalization of $13.75 billion, a price-to-earnings ratio of 11.06, a price-to-earnings-growth ratio of 0.19 and a beta of 1.52. First Solar, Inc. has a 52 week low of $124.96 and a 52 week high of $306.77. The company has a current ratio of 2.14, a quick ratio of 1.44 and a debt-to-equity ratio of 0.05.

First Solar (NASDAQ:FSLR) last announced its earnings results on Tuesday, February 25th. The solar cell manufacturer reported $3.65 EPS for the quarter, missing the consensus estimate of $4.81 by ($1.16). The firm had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.48 billion. First Solar had a return on equity of 17.56% and a net margin of 32.41%. On average, analysts forecast that First Solar, Inc. will post 13.05 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts recently issued reports on FSLR shares. StockNews.com raised shares of First Solar from a “sell” rating to a “hold” rating in a research report on Thursday, January 2nd. BMO Capital Markets restated an “outperform” rating and set a $230.00 price objective (down previously from $260.00) on shares of First Solar in a research note on Wednesday, February 26th. Wells Fargo & Company decreased their price target on First Solar from $240.00 to $209.00 and set an “overweight” rating for the company in a report on Wednesday, January 8th. Mizuho raised shares of First Solar from a “neutral” rating to an “outperform” rating and raised their price target for the company from $218.00 to $259.00 in a report on Tuesday, February 11th. Finally, Truist Financial reiterated a “buy” rating and issued a $285.00 price target (down previously from $300.00) on shares of First Solar in a research note on Wednesday, February 26th. Four investment analysts have rated the stock with a hold rating, twenty-three have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $262.08.

Insider Activity at First Solar

In related news, CFO Alexander R. Bradley sold 599 shares of the stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $133.75, for a total transaction of $80,116.25. Following the completion of the sale, the chief financial officer now directly owns 45,717 shares of the company’s stock, valued at $6,114,648.75. This represents a 1.29 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Mark R. Widmar sold 1,272 shares of First Solar stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $132.96, for a total transaction of $169,125.12. Following the completion of the transaction, the chief executive officer now owns 109,000 shares in the company, valued at approximately $14,492,640. This trade represents a 1.15 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 34,311 shares of company stock valued at $4,767,158 over the last 90 days. 0.58% of the stock is currently owned by corporate insiders.

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.