Bleakley Financial Group LLC Makes New Investment in First Solar, Inc. (NASDAQ:FSLR)

Bleakley Financial Group LLC bought a new stake in First Solar, Inc. (NASDAQ:FSLR) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 1,238 shares of the solar cell manufacturer’s stock, valued at approximately $213,000.

A number of other large investors also recently modified their holdings of the stock. Nisa Investment Advisors LLC lifted its holdings in shares of First Solar by 32.1% in the fourth quarter. Nisa Investment Advisors LLC now owns 4,955 shares of the solar cell manufacturer’s stock valued at $854,000 after purchasing an additional 1,203 shares in the last quarter. Mainstay Capital Management LLC ADV bought a new position in shares of First Solar in the fourth quarter valued at approximately $258,000. Vahanian & Associates Financial Planning Inc. bought a new position in shares of First Solar in the fourth quarter valued at approximately $405,000. DekaBank Deutsche Girozentrale lifted its holdings in shares of First Solar by 22.0% in the fourth quarter. DekaBank Deutsche Girozentrale now owns 735,813 shares of the solar cell manufacturer’s stock valued at $126,350,000 after purchasing an additional 132,577 shares in the last quarter. Finally, Stratos Wealth Partners LTD. bought a new position in shares of First Solar in the fourth quarter valued at approximately $205,000. Institutional investors own 92.08% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on FSLR. Wells Fargo & Company lowered First Solar from an “overweight” rating to an “equal weight” rating and dropped their target price for the company from $215.00 to $187.00 in a report on Monday, January 8th. Mizuho increased their price target on First Solar from $188.00 to $196.00 and gave the company a “buy” rating in a research report on Wednesday, January 3rd. Janney Montgomery Scott initiated coverage on First Solar in a research report on Friday, April 12th. They set a “buy” rating and a $236.00 price target for the company. Susquehanna reaffirmed a “positive” rating and set a $258.00 price target on shares of First Solar in a research report on Friday, April 5th. Finally, Oppenheimer increased their price target on First Solar from $268.00 to $269.00 and gave the company an “outperform” rating in a research report on Wednesday, February 28th. Four analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $227.96.

Insider Activity at First Solar

In related news, insider Georges Antoun sold 16,667 shares of First Solar stock in a transaction on Monday, March 4th. The stock was sold at an average price of $155.55, for a total transaction of $2,592,551.85. Following the completion of the sale, the insider now owns 42,041 shares of the company’s stock, valued at $6,539,477.55. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, Director R Craig Kennedy sold 1,500 shares of First Solar stock in a transaction 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 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 filing with the Securities & Exchange Commission, which is available through this link. Also, insider Georges Antoun sold 16,667 shares of First Solar stock in a transaction 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 sale, the insider now directly owns 42,041 shares of the company’s stock, valued at approximately $6,539,477.55. The disclosure for this sale can be found here. Over the last quarter, insiders sold 26,620 shares of company stock valued at $4,269,540. Company insiders own 0.58% of the company’s stock.

First Solar Price Performance

First Solar stock opened at $173.08 on Wednesday. First Solar, Inc. has a one year low of $129.21 and a one year high of $232.00. The business has a fifty day moving average price of $159.59 and a 200-day moving average price of $155.77. 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 firm has a market capitalization of $18.53 billion, a P/E ratio of 22.36, a PEG ratio of 0.31 and a beta of 1.41.

First Solar (NASDAQ:FSLR) last posted its quarterly earnings results on Tuesday, February 27th. The solar cell manufacturer reported $3.25 EPS for the quarter, topping analysts’ consensus estimates of $3.19 by $0.06. First Solar had a return on equity of 13.80% and a net margin of 25.03%. The firm had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.31 billion. During the same period last year, the company earned ($0.07) earnings per share. The business’s revenue for the quarter was up 15.5% on a year-over-year basis. As a group, equities research analysts forecast that First Solar, Inc. will post 13.53 EPS 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.