Elo Mutual Pension Insurance Co Takes $1.88 Million Position in First Solar, Inc. (NASDAQ:FSLR)

Elo Mutual Pension Insurance Co bought a new position in First Solar, Inc. (NASDAQ:FSLR) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 10,665 shares of the solar cell manufacturer’s stock, valued at approximately $1,880,000.

A number of other institutional investors have also recently bought and sold shares of FSLR. Larson Financial Group LLC raised its stake in shares of First Solar by 214.0% in the 3rd quarter. Larson Financial Group LLC now owns 157 shares of the solar cell manufacturer’s stock valued at $39,000 after buying an additional 107 shares in the last quarter. Smartleaf Asset Management LLC raised its position in First Solar by 31.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 262 shares of the solar cell manufacturer’s stock worth $47,000 after purchasing an additional 63 shares in the last quarter. Crews Bank & Trust bought a new position in First Solar during the fourth quarter worth about $53,000. Hudson Edge Investment Partners Inc. acquired a new stake in First Solar during the fourth quarter valued at approximately $53,000. Finally, CoreFirst Bank & Trust bought a new stake in shares of First Solar in the 4th quarter valued at approximately $54,000. Institutional investors and hedge funds own 92.08% of the company’s stock.

Analyst Ratings Changes

Several research firms recently commented on FSLR. Barclays cut their target price on First Solar from $273.00 to $236.00 and set an “overweight” rating for the company in a research report on Friday, February 28th. Redburn Atlantic initiated coverage on shares of First Solar in a research note on Monday, March 3rd. They issued a “neutral” rating on the stock. StockNews.com upgraded shares of First Solar from a “sell” rating to a “hold” rating in a research report on Thursday, January 2nd. Mizuho upgraded shares of First Solar from a “neutral” rating to an “outperform” rating and boosted their price target for the company from $218.00 to $259.00 in a research report on Tuesday, February 11th. Finally, BMO Capital Markets reaffirmed an “outperform” rating and set a $230.00 price objective (down previously from $260.00) on shares of First Solar in a report on Wednesday, February 26th. Four analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $262.08.

Insider Activity at First Solar

In other news, CTO Markus Gloeckler sold 380 shares of First Solar stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $133.75, for a total transaction of $50,825.00. Following the transaction, the chief technology officer now owns 17,594 shares in the company, valued at $2,353,197.50. The trade was a 2.11 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Mark R. Widmar sold 21,542 shares of the stock in a transaction that occurred 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 directly owns 103,403 shares of the company’s stock, valued at approximately $14,589,129.27. The trade was a 17.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 34,311 shares of company stock worth $4,767,158 in the last quarter. Corporate insiders own 0.58% of the company’s stock.

First Solar Price Performance

First Solar stock opened at $127.32 on Friday. The company has a current ratio of 2.14, a quick ratio of 1.44 and a debt-to-equity ratio of 0.05. The firm has a market capitalization of $13.63 billion, a P/E ratio of 10.97, a PEG ratio of 0.19 and a beta of 1.52. The business has a 50-day moving average of $150.28 and a 200-day moving average of $185.17. First Solar, Inc. has a 1 year low of $124.32 and a 1 year high of $306.77.

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 analysts’ consensus estimates of $4.81 by ($1.16). The firm had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.48 billion. First Solar had a net margin of 32.41% and a return on equity of 17.56%. On average, equities analysts anticipate that First Solar, Inc. will post 13.05 EPS for the current year.

First Solar Company 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.