Mirae Asset Global Investments Co. Ltd. Increases Holdings in First Solar, Inc. $FSLR

Mirae Asset Global Investments Co. Ltd. grew its holdings in First Solar, Inc. (NASDAQ:FSLR) by 22.0% during the third quarter, HoldingsChannel reports. The fund owned 77,155 shares of the solar cell manufacturer’s stock after purchasing an additional 13,904 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in First Solar were worth $17,015,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Ballentine Partners LLC boosted its holdings in First Solar by 8.6% in the third quarter. Ballentine Partners LLC now owns 2,455 shares of the solar cell manufacturer’s stock valued at $541,000 after purchasing an additional 195 shares in the last quarter. Truist Financial Corp lifted its position in shares of First Solar by 13.9% during the 3rd quarter. Truist Financial Corp now owns 6,669 shares of the solar cell manufacturer’s stock worth $1,471,000 after buying an additional 814 shares during the last quarter. J. Safra Sarasin Holding AG lifted its position in shares of First Solar by 56.3% during the 3rd quarter. J. Safra Sarasin Holding AG now owns 90,442 shares of the solar cell manufacturer’s stock worth $19,945,000 after buying an additional 32,583 shares during the last quarter. Belpointe Asset Management LLC acquired a new position in shares of First Solar in the 3rd quarter valued at $1,193,000. Finally, Fortis Capital Advisors LLC purchased a new position in shares of First Solar in the 3rd quarter valued at $969,000. Institutional investors and hedge funds own 92.08% of the company’s stock.

First Solar Trading Up 0.7%

Shares of FSLR stock opened at $225.52 on Friday. The company has a market capitalization of $24.20 billion, a P/E ratio of 17.32, a price-to-earnings-growth ratio of 0.29 and a beta of 1.60. The company has a current ratio of 1.91, a quick ratio of 1.55 and a debt-to-equity ratio of 0.03. The business’s 50 day moving average is $255.74 and its two-hundred day moving average is $229.47. First Solar, Inc. has a twelve month low of $116.56 and a twelve month high of $285.99.

First Solar (NASDAQ:FSLR) last issued its quarterly earnings results on Thursday, October 30th. The solar cell manufacturer reported $4.24 earnings per share for the quarter, missing the consensus estimate of $4.32 by ($0.08). First Solar had a return on equity of 16.61% and a net margin of 27.73%.The company had revenue of $1.59 billion for the quarter, compared to analyst estimates of $1.56 billion. During the same period in the prior year, the business earned $2.91 earnings per share. First Solar’s revenue for the quarter was up 79.7% compared to the same quarter last year. Equities analysts forecast that First Solar, Inc. will post 13.05 EPS for the current year.

Insider Transactions at First Solar

In other news, Director Paul H. Stebbins sold 7,000 shares of First Solar stock in a transaction dated Friday, November 7th. The shares were sold at an average price of $262.40, for a total value of $1,836,800.00. Following the sale, the director owned 15,287 shares of the company’s stock, valued at $4,011,308.80. The trade was a 31.41% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Michael T. Sweeney sold 4,500 shares of the business’s stock in a transaction dated Thursday, November 6th. The stock was sold at an average price of $271.11, for a total transaction of $1,219,995.00. Following the transaction, the director owned 13,662 shares in the company, valued at approximately $3,703,904.82. This trade represents a 24.78% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 48,912 shares of company stock worth $12,971,349. Company insiders own 0.48% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on FSLR. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $300.00 price target on shares of First Solar in a research report on Wednesday, January 7th. Glj Research lifted their target price on First Solar from $214.06 to $314.43 and gave the stock a “buy” rating in a research report on Tuesday, November 4th. TD Cowen boosted their target price on First Solar from $260.00 to $320.00 and gave the company a “buy” rating in a report on Friday, January 9th. Daiwa Capital Markets raised their price target on First Solar from $215.00 to $284.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 9th. Finally, Seaport Research Partners lifted their price target on First Solar from $217.00 to $305.00 and gave the stock a “buy” rating in a research report on Tuesday, November 4th. One investment analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and nine have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $275.94.

First Solar Company Profile

First Solar, Inc (NASDAQ: FSLR) is a United States–based solar technology company best known for designing and manufacturing thin‑film photovoltaic (PV) modules that use cadmium telluride (CdTe) semiconductor technology. The company supplies PV modules and delivers integrated solar power solutions for utility‑scale projects, positioning itself as a provider of both components and complete solar energy systems rather than solely a parts supplier. First Solar was founded in 1999 and is headquartered in Tempe, Arizona.

Beyond module manufacturing, First Solar offers a range of project services including development support, engineering, procurement and construction (EPC) services, and operations and maintenance (O&M) for large-scale solar installations.