Flputnam Investment Management Co. Has $2.88 Million Holdings in First Solar, Inc. (NASDAQ:FSLR)

Flputnam Investment Management Co. lifted its holdings in shares of First Solar, Inc. (NASDAQ:FSLR) by 613.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 16,717 shares of the solar cell manufacturer’s stock after purchasing an additional 14,375 shares during the period. Flputnam Investment Management Co.’s holdings in First Solar were worth $2,880,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of FSLR. Vontobel Holding Ltd. lifted its holdings in First Solar by 15.6% in the fourth quarter. Vontobel Holding Ltd. now owns 444,651 shares of the solar cell manufacturer’s stock valued at $76,604,000 after buying an additional 60,054 shares during the period. Harel Insurance Investments & Financial Services Ltd. lifted its holdings in First Solar by 17.4% in the fourth quarter. Harel Insurance Investments & Financial Services Ltd. now owns 20,166 shares of the solar cell manufacturer’s stock valued at $3,490,000 after buying an additional 2,995 shares during the period. Lecap Asset Management Ltd. acquired a new position in First Solar in the fourth quarter valued at $541,000. Louisiana State Employees Retirement System acquired a new position in First Solar in the fourth quarter valued at $1,120,000. Finally, Aquila Investment Management LLC acquired a new position in First Solar in the fourth quarter valued at $1,206,000. Institutional investors and hedge funds own 92.08% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on FSLR. Bank of America boosted their target price on shares of First Solar from $187.00 to $194.00 and gave the company a “buy” rating in a report on Wednesday, April 10th. Wells Fargo & Company downgraded shares of First Solar from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $215.00 to $187.00 in a research note on Monday, January 8th. Oppenheimer lifted their price target on shares of First Solar from $268.00 to $269.00 and gave the company an “outperform” rating in a research note on Wednesday, February 28th. Janney Montgomery Scott assumed coverage on shares of First Solar in a research note on Friday, April 12th. They issued a “buy” rating and a $236.00 price target for the company. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $195.00 price target on shares of First Solar in a research note on Wednesday, February 28th. Four research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company. Based on data from MarketBeat.com, First Solar presently has an average rating of “Moderate Buy” and an average price target of $227.96.

First Solar Trading Down 1.6 %

Shares of FSLR stock opened at $173.08 on Wednesday. First Solar, Inc. has a 52-week low of $129.21 and a 52-week high of $232.00. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.92 and a current ratio of 3.55. The company has a 50-day simple moving average of $159.59 and a two-hundred day simple moving average of $155.77. The company has a market capitalization of $18.53 billion, a price-to-earnings ratio of 22.36, a PEG ratio of 0.30 and a beta of 1.41.

First Solar (NASDAQ:FSLR) last issued its quarterly earnings data on Tuesday, February 27th. The solar cell manufacturer reported $3.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.19 by $0.06. First Solar had a net margin of 25.03% and a return on equity of 13.80%. The business had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.31 billion. During the same period in the prior year, the firm posted ($0.07) EPS. The firm’s quarterly revenue was up 15.5% compared to the same quarter last year. Research analysts anticipate that First Solar, Inc. will post 13.55 EPS for the current fiscal year.

Insider Buying and Selling at First Solar

In other First Solar news, insider Georges Antoun sold 2,400 shares of the business’s stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $176.00, for a total value of $422,400.00. Following the transaction, the insider now directly owns 37,412 shares in the company, valued at $6,584,512. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, insider Georges Antoun sold 2,400 shares of the company’s stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of $176.00, for a total transaction of $422,400.00. Following the sale, the insider now directly owns 37,412 shares in the company, valued at approximately $6,584,512. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Kuntal Kumar Verma sold 787 shares of the company’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $160.00, for a total transaction of $125,920.00. Following the sale, the insider now owns 4,920 shares in the company, valued at $787,200. The disclosure for this sale can be found here. Insiders have sold a total of 26,620 shares of company stock worth $4,269,540 over the last three months. 0.58% of the stock is currently owned by insiders.

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.