PGGM Investments Makes New $953,000 Investment in First Solar, Inc. (NASDAQ:FSLR)

PGGM Investments bought a new stake in shares of First Solar, Inc. (NASDAQ:FSLR) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 5,409 shares of the solar cell manufacturer’s stock, valued at approximately $953,000.

Several other large investors have also recently made changes to their positions in FSLR. Clear Harbor Asset Management LLC increased its holdings in First Solar by 0.6% in the fourth quarter. Clear Harbor Asset Management LLC now owns 9,210 shares of the solar cell manufacturer’s stock valued at $1,623,000 after buying an additional 55 shares in the last quarter. Doliver Advisors LP boosted its stake in shares of First Solar by 1.2% during the 4th quarter. Doliver Advisors LP now owns 4,713 shares of the solar cell manufacturer’s stock worth $831,000 after acquiring an additional 56 shares in the last quarter. Smartleaf Asset Management LLC grew its position in shares of First Solar by 31.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 262 shares of the solar cell manufacturer’s stock valued at $47,000 after acquiring an additional 63 shares during the period. Independent Advisor Alliance increased its stake in shares of First Solar by 3.1% in the 4th quarter. Independent Advisor Alliance now owns 2,090 shares of the solar cell manufacturer’s stock valued at $368,000 after purchasing an additional 63 shares in the last quarter. Finally, Sigma Planning Corp raised its holdings in First Solar by 4.8% in the 3rd quarter. Sigma Planning Corp now owns 1,450 shares of the solar cell manufacturer’s stock worth $362,000 after purchasing an additional 67 shares during the period. 92.08% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

FSLR has been the topic of several research analyst reports. Mizuho raised First Solar from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $218.00 to $259.00 in a report on Tuesday, February 11th. Citigroup cut their price target on shares of First Solar from $254.00 to $236.00 and set a “neutral” rating for the company in a report on Wednesday, February 26th. Morgan Stanley decreased their price objective on shares of First Solar from $297.00 to $238.00 and set an “overweight” rating on the stock in a report on Thursday, February 27th. StockNews.com raised shares of First Solar from a “sell” rating to a “hold” rating in a research note on Thursday, January 2nd. Finally, Seaport Res Ptn raised shares of First Solar from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, January 15th. Four equities research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $262.08.

Insider Buying and Selling

In related news, CEO Mark R. Widmar sold 21,542 shares of the business’s stock in a transaction on Friday, February 28th. The stock was sold at an average price of $141.09, for a total value of $3,039,360.78. Following the sale, the chief executive officer now owns 103,403 shares in the company, valued at approximately $14,589,129.27. The trade was a 17.24 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Kuntal Kumar Verma sold 7,475 shares of the firm’s stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $136.60, for a total value of $1,021,085.00. Following the transaction, the insider now owns 3,549 shares of the company’s stock, valued at $484,793.40. This trade represents a 67.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 30,739 shares of company stock valued at $4,289,403. Company insiders own 0.58% of the company’s stock.

First Solar Price Performance

NASDAQ:FSLR opened at $132.81 on Friday. First Solar, Inc. has a 52 week low of $124.96 and a 52 week high of $306.77. The stock’s fifty day moving average is $164.63 and its two-hundred day moving average is $192.76. The company has a market capitalization of $14.22 billion, a P/E ratio of 11.44, a P/E/G ratio of 0.19 and a beta of 1.52. The company has a quick ratio of 1.44, a current ratio of 2.14 and a debt-to-equity ratio of 0.05.

First Solar (NASDAQ:FSLR) last issued its quarterly earnings data on Tuesday, February 25th. The solar cell manufacturer reported $3.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.81 by ($1.16). First Solar had a net margin of 32.41% and a return on equity of 17.56%. The company had revenue of $1.51 billion during the quarter, compared to analysts’ expectations of $1.48 billion. Equities analysts expect that First Solar, Inc. will post 13.05 EPS for the current year.

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.