Bank of America Corp DE Boosts Holdings in First Solar, Inc. (FSLR)

Bank of America Corp DE boosted its position in shares of First Solar, Inc. (NASDAQ:FSLR) by 1.2% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 186,458 shares of the solar cell manufacturer’s stock after buying an additional 2,214 shares during the quarter. Bank of America Corp DE’s holdings in First Solar were worth $7,916,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. JOYN Advisors Inc. lifted its holdings in First Solar by 130.2% during the 4th quarter. JOYN Advisors Inc. now owns 603 shares of the solar cell manufacturer’s stock worth $26,000 after buying an additional 341 shares in the last quarter. Private Capital Group LLC lifted its holdings in First Solar by 68.6% during the 4th quarter. Private Capital Group LLC now owns 1,165 shares of the solar cell manufacturer’s stock worth $49,000 after buying an additional 474 shares in the last quarter. Valeo Financial Advisors LLC lifted its holdings in First Solar by 180.2% during the 4th quarter. Valeo Financial Advisors LLC now owns 1,555 shares of the solar cell manufacturer’s stock worth $66,000 after buying an additional 1,000 shares in the last quarter. ETF Managers Group LLC lifted its holdings in First Solar by 15.8% during the 4th quarter. ETF Managers Group LLC now owns 1,828 shares of the solar cell manufacturer’s stock worth $78,000 after buying an additional 249 shares in the last quarter. Finally, Advisors Asset Management Inc. lifted its holdings in First Solar by 231.8% during the 4th quarter. Advisors Asset Management Inc. now owns 2,641 shares of the solar cell manufacturer’s stock worth $112,000 after buying an additional 1,845 shares in the last quarter. 61.03% of the stock is currently owned by hedge funds and other institutional investors.

FSLR opened at $60.51 on Wednesday. The company has a debt-to-equity ratio of 0.09, a current ratio of 4.57 and a quick ratio of 4.11. First Solar, Inc. has a 12 month low of $36.51 and a 12 month high of $81.72. The firm has a market capitalization of $6.35 billion, a P/E ratio of 44.49, a PEG ratio of 1.77 and a beta of 1.27.

First Solar (NASDAQ:FSLR) last released its quarterly earnings data on Thursday, February 21st. The solar cell manufacturer reported $0.49 EPS for the quarter, missing the Zacks’ consensus estimate of $0.64 by ($0.15). First Solar had a net margin of 6.43% and a return on equity of 2.80%. The firm had revenue of $691.00 million during the quarter, compared to the consensus estimate of $812.52 million. During the same quarter in the prior year, the company earned ($0.25) EPS. First Solar’s quarterly revenue was up 103.8% on a year-over-year basis. As a group, sell-side analysts forecast that First Solar, Inc. will post 2.47 earnings per share for the current fiscal year.

In related news, CFO Alexander R. Bradley sold 1,254 shares of the company’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $51.30, for a total value of $64,330.20. Following the completion of the sale, the chief financial officer now owns 8,887 shares in the company, valued at approximately $455,903.10. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Mark R. Widmar sold 33,371 shares of the company’s stock in a transaction on Wednesday, April 10th. The shares were sold at an average price of $60.00, for a total transaction of $2,002,260.00. Following the completion of the sale, the chief executive officer now owns 152,510 shares of the company’s stock, valued at approximately $9,150,600. The disclosure for this sale can be found here. In the last 90 days, insiders sold 42,033 shares of company stock valued at $2,461,122. 0.54% of the stock is owned by corporate insiders.

Several brokerages have commented on FSLR. Goldman Sachs Group set a $75.00 target price on shares of First Solar and gave the company a “buy” rating in a research report on Wednesday, April 10th. JPMorgan Chase & Co. dropped their target price on shares of First Solar to $70.00 and set an “overweight” rating for the company in a research report on Friday, February 22nd. Zacks Investment Research cut shares of First Solar from a “hold” rating to a “sell” rating in a research report on Friday, February 22nd. Bank of America reiterated a “buy” rating and set a $60.00 target price on shares of First Solar in a research report on Tuesday, February 26th. Finally, BidaskClub upgraded shares of First Solar from a “sell” rating to a “hold” rating in a research report on Friday, January 25th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and twelve have given a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $64.60.

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About First Solar

First Solar, Inc provides photovoltaic (PV) solar energy solutions in the United States and internationally. It operates in two segments, Modules and Systems. The Components segment designs, manufactures, and sells cadmium telluride solar modules that convert sunlight into electricity. This segment offers its products to integrators and operators of PV solar power systems.

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

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