Terra Nova Asset Management LLC Buys 1,001 Shares of First Solar, Inc. (NASDAQ:FSLR)

Terra Nova Asset Management LLC boosted its stake in shares of First Solar, Inc. (NASDAQ:FSLR) by 11.6% during the 4th quarter, HoldingsChannel reports. The fund owned 9,625 shares of the solar cell manufacturer’s stock after purchasing an additional 1,001 shares during the period. Terra Nova Asset Management LLC’s holdings in First Solar were worth $1,658,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Assenagon Asset Management S.A. boosted 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 valued at $68,852,000 after buying an additional 333,496 shares during the period. Sora Investors LLC boosted its holdings in shares of First Solar by 63.6% in the third quarter. Sora Investors LLC now owns 90,000 shares of the solar cell manufacturer’s stock valued at $14,543,000 after purchasing an additional 35,000 shares during the period. 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 purchasing an additional 279,424 shares in the last quarter. Aviva PLC increased its position in shares of First Solar by 27.8% during the third quarter. Aviva PLC now owns 50,354 shares of the solar cell manufacturer’s stock worth $8,137,000 after purchasing an additional 10,940 shares in the last quarter. Finally, Trust Co. of Vermont increased its position in shares of First Solar by 21.0% during the third quarter. Trust Co. of Vermont now owns 7,356 shares of the solar cell manufacturer’s stock worth $1,189,000 after purchasing an additional 1,277 shares in the last quarter. 92.08% of the stock is owned by institutional investors.

First Solar Trading Up 0.8 %

FSLR opened at $168.80 on Friday. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.55 and a quick ratio of 2.92. The company’s 50 day simple moving average is $152.04 and its two-hundred day simple moving average is $155.26. First Solar, Inc. has a 1-year low of $129.21 and a 1-year high of $232.00. The firm has a market capitalization of $18.04 billion, a price-to-earnings ratio of 21.81, a price-to-earnings-growth ratio of 0.29 and a beta of 1.41.

First Solar (NASDAQ:FSLR) last released its quarterly earnings results on Tuesday, February 27th. The solar cell manufacturer reported $3.25 EPS for the quarter, beating the consensus estimate of $3.19 by $0.06. The firm had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.31 billion. First Solar had a net margin of 25.03% and a return on equity of 13.80%. The business’s revenue for the quarter was up 15.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.07) EPS. Analysts expect that First Solar, Inc. will post 13.51 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on FSLR. Wells Fargo & Company downgraded First Solar from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $215.00 to $187.00 in a research report on Monday, January 8th. Jefferies Financial Group assumed coverage on First Solar in a research report on Friday, December 15th. They issued a “buy” rating and a $211.00 target price on the stock. Susquehanna cut their target price on First Solar from $261.00 to $258.00 and set a “positive” rating on the stock in a research report on Wednesday, February 28th. Royal Bank of Canada reissued an “outperform” rating and issued a $195.00 target price on shares of First Solar in a research report on Wednesday, February 28th. Finally, Mizuho upped their target price on First Solar from $188.00 to $196.00 and gave the company a “buy” rating in a research report on Wednesday, January 3rd. Four analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $231.48.

Insider Activity

In other First Solar news, Director R Craig Kennedy sold 1,500 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $157.76, for a total value of $236,640.00. Following the sale, the director now owns 15,641 shares of the company’s stock, valued at $2,467,524.16. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other First Solar news, Director R Craig Kennedy sold 1,500 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $157.76, for a total value of $236,640.00. Following the sale, the director now owns 15,641 shares of the company’s stock, valued at $2,467,524.16. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Georges Antoun sold 16,667 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $155.55, for a total value of $2,592,551.85. Following the completion of the sale, the insider now directly owns 42,041 shares in the company, valued at approximately $6,539,477.55. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 19,883 shares of company stock valued at $3,100,837. 0.58% of the stock is currently owned by company insiders.

First Solar 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.