Saturna Capital Corp Boosts Stake in First Solar, Inc. (NASDAQ:FSLR)

Saturna Capital Corp lifted its holdings in shares of First Solar, Inc. (NASDAQ:FSLR) by 1.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 5,304 shares of the solar cell manufacturer’s stock after acquiring an additional 100 shares during the quarter. Saturna Capital Corp’s holdings in First Solar were worth $935,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of FSLR. Strengthening Families & Communities LLC purchased a new stake in First Solar during the 3rd quarter worth approximately $25,000. Kennebec Savings Bank acquired a new stake in shares of First Solar during the third quarter worth approximately $29,000. Larson Financial Group LLC increased its stake in shares of First Solar by 214.0% in the third quarter. Larson Financial Group LLC now owns 157 shares of the solar cell manufacturer’s stock worth $39,000 after buying an additional 107 shares during the last quarter. Smartleaf Asset Management LLC raised its holdings 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 valued at $47,000 after acquiring an additional 63 shares in the last quarter. Finally, Crews Bank & Trust bought a new position in First Solar during the 4th quarter valued at $53,000. Institutional investors and hedge funds own 92.08% of the company’s stock.

Insider Transactions at First Solar

In other news, insider Kuntal Kumar Verma sold 419 shares of First Solar stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $132.96, for a total value of $55,710.24. Following the transaction, the insider now owns 4,695 shares of the company’s stock, valued at $624,247.20. The trade was a 8.19 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Mark R. Widmar sold 21,542 shares of the stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $141.09, for a total transaction 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. This represents a 17.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 30,739 shares of company stock valued at $4,289,403. Corporate insiders own 0.58% of the company’s stock.

Wall Street Analyst Weigh In

FSLR has been the subject of several research analyst reports. Truist Financial reissued a “buy” rating and issued a $285.00 target price (down previously from $300.00) on shares of First Solar in a research report on Wednesday, February 26th. Robert W. Baird lowered their price objective on First Solar from $307.00 to $267.00 and set an “outperform” rating for the company in a report on Wednesday, December 18th. Piper Sandler reduced their target price on First Solar from $250.00 to $230.00 and set an “overweight” rating on the stock in a report on Wednesday, February 26th. Roth Mkm reiterated a “buy” rating and issued a $280.00 price target on shares of First Solar in a report on Wednesday, February 26th. Finally, Royal Bank of Canada dropped their price target on First Solar from $280.00 to $251.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 26th. Four research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $262.08.

First Solar Stock Performance

Shares of FSLR opened at $139.10 on Wednesday. The firm has a market capitalization of $14.89 billion, a PE ratio of 11.98, 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. The firm has a 50-day moving average price of $165.43 and a 200 day moving average price of $193.16. First Solar, Inc. has a 52-week low of $124.96 and a 52-week high of $306.77.

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 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 the consensus estimate of $1.48 billion. On average, sell-side analysts anticipate that First Solar, Inc. will post 13.05 earnings per share for the current fiscal 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.