Duncker Streett & Co. Inc. Makes New Investment in First Solar, Inc. (NASDAQ:FSLR)

Duncker Streett & Co. Inc. bought a new position in shares of First Solar, Inc. (NASDAQ:FSLR) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 800 shares of the solar cell manufacturer’s stock, valued at approximately $138,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in First Solar by 4.0% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 548,058 shares of the solar cell manufacturer’s stock valued at $94,419,000 after buying an additional 20,946 shares during the period. Assenagon Asset Management S.A. lifted its holdings in First Solar by 504.1% in 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 lifted its holdings in 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 buying an additional 35,000 shares during the period. Vanguard Group Inc. lifted its holdings in First Solar by 2.4% in the third quarter. Vanguard Group Inc. now owns 12,040,031 shares of the solar cell manufacturer’s stock valued at $1,945,549,000 after buying an additional 279,424 shares during the period. Finally, Bull Oak Capital LLC lifted its holdings in First Solar by 304,592.2% in the fourth quarter. Bull Oak Capital LLC now owns 155,393 shares of the solar cell manufacturer’s stock valued at $26,771,000 after buying an additional 155,342 shares during the period. Institutional investors own 92.08% of the company’s stock.

Analysts Set New Price Targets

FSLR has been the topic of several research reports. Wells Fargo & Company lowered shares of First Solar from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $215.00 to $187.00 in a report on Monday, January 8th. Susquehanna restated a “positive” rating and issued a $258.00 target price on shares of First Solar in a report on Friday, April 5th. Bank of America upped their price objective 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. Janney Montgomery Scott assumed coverage on shares of First Solar in a research report on Friday, April 12th. They issued a “buy” rating and a $236.00 price objective for the company. Finally, DZ Bank assumed coverage on shares of First Solar in a research report on Wednesday. They issued a “buy” rating and a $205.00 price objective for the company. Four research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $227.04.

Insider Activity at First Solar

In related news, Director R Craig Kennedy sold 1,500 shares of the business’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 sale, the director now owns 15,641 shares of the company’s stock, valued at $2,467,524.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Georges Antoun sold 16,667 shares of the company’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 transaction, the insider now owns 42,041 shares in the company, valued at $6,539,477.55. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director R Craig Kennedy sold 1,500 shares of the company’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 transaction of $236,640.00. Following the completion of the transaction, the director now owns 15,641 shares in the company, valued at approximately $2,467,524.16. The disclosure for this sale can be found here. Insiders have sold 26,620 shares of company stock worth $4,269,540 over the last 90 days. 0.58% of the stock is owned by company insiders.

First Solar Price Performance

Shares of NASDAQ FSLR opened at $178.01 on Thursday. First Solar, Inc. has a 1 year low of $129.21 and a 1 year high of $232.00. 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 moving average is $160.24 and its 200 day moving average is $155.92. The stock has a market capitalization of $19.05 billion, a P/E ratio of 23.00, a P/E/G ratio of 0.30 and a beta of 1.41.

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

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.