Wellington Management Group LLP Has $415.90 Million Holdings in First Solar, Inc. (NASDAQ:FSLR)

Wellington Management Group LLP increased its position in shares of First Solar, Inc. (NASDAQ:FSLR) by 12.5% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 2,359,846 shares of the solar cell manufacturer’s stock after purchasing an additional 262,482 shares during the period. Wellington Management Group LLP’s holdings in First Solar were worth $415,899,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Whalen Wealth Management Inc. raised its holdings in shares of First Solar by 47.0% in the 4th quarter. Whalen Wealth Management Inc. now owns 4,859 shares of the solar cell manufacturer’s stock valued at $856,000 after purchasing an additional 1,554 shares during the period. Allspring Global Investments Holdings LLC increased its position in First Solar by 665.8% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 39,192 shares of the solar cell manufacturer’s stock worth $7,308,000 after buying an additional 34,074 shares during the last quarter. Stifel Financial Corp raised its stake in First Solar by 36.9% in the third quarter. Stifel Financial Corp now owns 21,446 shares of the solar cell manufacturer’s stock valued at $5,350,000 after buying an additional 5,780 shares during the period. Paragon Capital Management Inc. acquired a new stake in shares of First Solar in the fourth quarter valued at approximately $1,240,000. Finally, Robeco Institutional Asset Management B.V. boosted its stake in shares of First Solar by 9.0% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 595,267 shares of the solar cell manufacturer’s stock worth $104,910,000 after acquiring an additional 49,074 shares during the period. 92.08% of the stock is owned by institutional investors.

First Solar Stock Down 0.7 %

Shares of NASDAQ FSLR opened at $126.43 on Tuesday. First Solar, Inc. has a 1 year low of $120.60 and a 1 year high of $306.77. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.14 and a quick ratio of 1.44. The firm has a market cap 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 50 day simple moving average of $148.95 and a 200 day simple moving average of $184.01.

First Solar (NASDAQ:FSLR) last released its quarterly earnings results 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). The business had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.48 billion. First Solar had a net margin of 32.41% and a return on equity of 17.56%. On average, research analysts forecast that First Solar, Inc. will post 13.05 EPS for the current year.

Insider Buying and Selling

In other news, insider Kuntal Kumar Verma sold 7,475 shares of the company’s stock in a transaction on 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 sale, the insider now directly owns 3,549 shares of the company’s stock, valued at approximately $484,793.40. This represents a 67.81 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Mark R. Widmar sold 1,272 shares of First Solar stock in a transaction on Friday, March 7th. The stock was sold at an average price of $132.96, for a total transaction of $169,125.12. Following the transaction, the chief executive officer now directly owns 109,000 shares of the company’s stock, valued at $14,492,640. This represents a 1.15 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 34,311 shares of company stock valued at $4,767,158 in the last three months. Insiders own 0.58% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on FSLR. 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. Piper Sandler cut their target price on shares of First Solar from $250.00 to $230.00 and set an “overweight” rating for the company in a research note on Wednesday, February 26th. Mizuho upgraded shares of First Solar from a “neutral” rating to an “outperform” rating and upped their price target for the company from $218.00 to $259.00 in a research note on Tuesday, February 11th. StockNews.com upgraded shares of First Solar from a “sell” rating to a “hold” rating in a research report on Thursday, January 2nd. Finally, UBS Group decreased their target price on First Solar from $360.00 to $285.00 and set a “buy” rating on the stock in a research report on Wednesday, February 26th. Four equities research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, First Solar currently has an average rating of “Moderate Buy” and a consensus target price of $262.08.

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.