Rakuten Securities Inc. Acquires New Holdings in First Solar, Inc. (NASDAQ:FSLR)

Rakuten Securities Inc. acquired a new stake in First Solar, Inc. (NASDAQ:FSLR) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 198 shares of the solar cell manufacturer’s stock, valued at approximately $34,000.

A number of other large investors have also recently added to or reduced their stakes in FSLR. Baystate Wealth Management LLC purchased a new position in First Solar in the 4th quarter valued at about $29,000. First Pacific Financial purchased a new position in First Solar in the 3rd quarter valued at about $27,000. Estabrook Capital Management purchased a new position in First Solar in the 3rd quarter valued at about $29,000. Headinvest LLC purchased a new position in First Solar in the 3rd quarter valued at about $30,000. Finally, Harbor Investment Advisory LLC purchased a new position in First Solar in the 3rd quarter valued at about $32,000. 92.08% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at First Solar

In other First Solar news, insider Kuntal Kumar Verma sold 250 shares of the stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $148.34, for a total value of $37,085.00. Following the completion of the sale, the insider now owns 5,170 shares of the company’s stock, valued at $766,917.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, insider Kuntal Kumar Verma sold 250 shares of the firm’s stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $148.34, for a total transaction of $37,085.00. Following the completion of the sale, the insider now owns 5,170 shares of the company’s stock, valued at $766,917.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director R Craig Kennedy sold 1,500 shares of the firm’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 sale, the director now directly owns 15,641 shares of the company’s stock, valued at approximately $2,467,524.16. The disclosure for this sale can be found here. Insiders sold 26,620 shares of company stock valued at $4,269,540 over the last 90 days. 0.58% of the stock is owned by corporate insiders.

First Solar Stock Down 2.1 %

Shares of NASDAQ:FSLR opened at $174.29 on Friday. The company has a quick ratio of 2.92, a current ratio of 3.55 and a debt-to-equity ratio of 0.07. First Solar, Inc. has a 52-week low of $129.21 and a 52-week high of $232.00. The company has a 50 day moving average of $160.86 and a two-hundred day moving average of $156.05. The company has a market capitalization of $18.66 billion, a price-to-earnings ratio of 22.52, a price-to-earnings-growth ratio of 0.31 and a beta of 1.41.

First Solar (NASDAQ:FSLR) last issued its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $1.31 billion. During the same quarter last year, the company earned ($0.07) earnings per share. First Solar’s revenue for the quarter was up 15.5% on a year-over-year basis. As a group, analysts forecast that First Solar, Inc. will post 13.55 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

FSLR has been the topic of a number of recent research reports. Bank of America upped their target price on shares of First Solar from $187.00 to $194.00 and gave the company a “buy” rating in a report on Wednesday, April 10th. Mizuho upped their target price on shares of First Solar from $188.00 to $196.00 and gave the company a “buy” rating in a report on Wednesday, January 3rd. Royal Bank of Canada reiterated an “outperform” rating and set a $195.00 price objective on shares of First Solar in a report on Wednesday, February 28th. Roth Mkm reiterated a “buy” rating and set a $230.00 price objective on shares of First Solar in a report on Thursday. Finally, Oppenheimer reiterated an “outperform” rating and set a $269.00 price objective on shares of First Solar in a report on Wednesday. Four equities research analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $227.04.

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.