Brandywine Global Investment Management LLC Makes New Investment in First Solar, Inc. (NASDAQ:FSLR)

Brandywine Global Investment Management LLC purchased a new stake in First Solar, Inc. (NASDAQ:FSLR) in the fourth quarter, according to its most recent filing with the SEC. The fund purchased 63,454 shares of the solar cell manufacturer’s stock, valued at approximately $11,183,000. Brandywine Global Investment Management LLC owned about 0.06% of First Solar at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in FSLR. Cerity Partners LLC raised its holdings in shares of First Solar by 60.0% during the third quarter. Cerity Partners LLC now owns 7,457 shares of the solar cell manufacturer’s stock worth $1,860,000 after purchasing an additional 2,796 shares during the period. Townsquare Capital LLC acquired a new stake in First Solar during the third quarter worth about $240,000. Glenmede Trust Co. NA lifted its holdings in First Solar by 4.1% in the third quarter. Glenmede Trust Co. NA now owns 2,328 shares of the solar cell manufacturer’s stock worth $581,000 after acquiring an additional 91 shares during the last quarter. Public Sector Pension Investment Board boosted its stake in First Solar by 12.6% in the third quarter. Public Sector Pension Investment Board now owns 5,371 shares of the solar cell manufacturer’s stock valued at $1,340,000 after acquiring an additional 600 shares during the period. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its holdings in shares of First Solar by 98.0% during the third quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 38,568 shares of the solar cell manufacturer’s stock valued at $9,620,000 after purchasing an additional 19,093 shares during the last quarter. 92.08% of the stock is owned by institutional investors and hedge funds.

First Solar Stock Down 0.7 %

Shares of First Solar stock opened at $126.43 on Tuesday. First Solar, Inc. has a 12-month low of $120.60 and a 12-month high of $306.77. The firm has a market capitalization of $13.54 billion, a PE ratio of 10.89, a price-to-earnings-growth 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. The stock’s fifty day moving average is $148.95 and its 200-day moving average is $184.01.

First Solar (NASDAQ:FSLR) last posted 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 return on equity of 17.56% and a net margin of 32.41%. The company had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.48 billion. Equities analysts anticipate that First Solar, Inc. will post 13.05 earnings per share for the current year.

Analyst Upgrades and Downgrades

FSLR has been the topic of several recent research reports. Mizuho raised First Solar from a “neutral” rating to an “outperform” rating and raised their price target for the stock from $218.00 to $259.00 in a report on Tuesday, February 11th. Morgan Stanley reduced their price target on shares of First Solar from $297.00 to $238.00 and set an “overweight” rating for the company in a report on Thursday, February 27th. StockNews.com raised shares of First Solar from a “sell” rating to a “hold” rating in a report on Thursday, January 2nd. JPMorgan Chase & Co. reduced their target price on shares of First Solar from $282.00 to $268.00 and set an “overweight” rating for the company in a research note on Wednesday, February 26th. Finally, Truist Financial restated a “buy” rating and issued a $285.00 price target (down previously from $300.00) on shares of First Solar in a research note 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. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $262.08.

Insider Buying and Selling

In other First Solar news, CEO Mark R. Widmar sold 21,542 shares of the firm’s stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $141.09, for a total transaction of $3,039,360.78. Following the completion of the sale, the chief executive officer now directly owns 103,403 shares in the company, valued at approximately $14,589,129.27. This trade represents a 17.24 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Kuntal Kumar Verma sold 7,475 shares of the company’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 completion of the transaction, the insider now owns 3,549 shares in the company, valued at $484,793.40. This represents a 67.81 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 34,311 shares of company stock valued at $4,767,158. Company insiders own 0.58% of the company’s stock.

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.