Mediolanum International Funds Ltd Purchases New Stake in First Solar, Inc. (NASDAQ:FSLR)

Mediolanum International Funds Ltd acquired a new position in First Solar, Inc. (NASDAQ:FSLR) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 54,098 shares of the solar cell manufacturer’s stock, valued at approximately $9,059,000. Mediolanum International Funds Ltd owned 0.05% of First Solar as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Family Legacy Inc. increased its holdings in First Solar by 1.4% in the 1st quarter. Family Legacy Inc. now owns 4,950 shares of the solar cell manufacturer’s stock worth $836,000 after acquiring an additional 69 shares during the last quarter. Harbor Investment Advisory LLC increased its stake in shares of First Solar by 36.0% in the first quarter. Harbor Investment Advisory LLC now owns 272 shares of the solar cell manufacturer’s stock worth $46,000 after purchasing an additional 72 shares in the last quarter. Atticus Wealth Management LLC raised its position in shares of First Solar by 15.6% in the first quarter. Atticus Wealth Management LLC now owns 534 shares of the solar cell manufacturer’s stock valued at $90,000 after purchasing an additional 72 shares during the period. Benjamin F. Edwards & Company Inc. lifted its stake in shares of First Solar by 10.7% during the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 765 shares of the solar cell manufacturer’s stock valued at $129,000 after buying an additional 74 shares in the last quarter. Finally, AtonRa Partners boosted its holdings in First Solar by 2.2% in the 4th quarter. AtonRa Partners now owns 3,600 shares of the solar cell manufacturer’s stock worth $620,000 after buying an additional 79 shares during the period. 92.08% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CFO Alexander R. Bradley sold 16,051 shares of the business’s stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $274.69, for a total transaction of $4,409,049.19. Following the transaction, the chief financial officer now owns 30,652 shares in the company, valued at $8,419,797.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other First Solar news, Director Richard D. Chapman sold 3,165 shares of the firm’s stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $190.48, for a total transaction of $602,869.20. Following the completion of the transaction, the director now owns 1,045 shares of the company’s stock, valued at $199,051.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Alexander R. Bradley sold 16,051 shares of the company’s stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $274.69, for a total transaction of $4,409,049.19. Following the completion of the sale, the chief financial officer now directly owns 30,652 shares in the company, valued at $8,419,797.88. The disclosure for this sale can be found here. In the last ninety days, insiders sold 51,153 shares of company stock worth $12,540,428. 0.58% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research firms have issued reports on FSLR. JPMorgan Chase & Co. increased their target price on First Solar from $240.00 to $262.00 and gave the stock an “overweight” rating in a research report on Thursday, May 23rd. Oppenheimer raised their price target on First Solar from $271.00 to $325.00 and gave the company an “outperform” rating in a report on Wednesday, June 12th. Piper Sandler upped their price objective on shares of First Solar from $195.00 to $219.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 21st. Bank of America lifted their target price on shares of First Solar from $187.00 to $194.00 and gave the company a “buy” rating in a research report on Wednesday, April 10th. Finally, Guggenheim decreased their price target on shares of First Solar from $359.00 to $356.00 and set a “buy” rating on the stock in a report on Thursday, May 2nd. Five equities research analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the stock. According to data from MarketBeat.com, First Solar currently has a consensus rating of “Moderate Buy” and an average target price of $271.92.

First Solar Trading Up 1.5 %

Shares of First Solar stock traded up $3.34 during trading on Wednesday, reaching $228.57. 1,640,633 shares of the stock were exchanged, compared to its average volume of 2,500,326. The company has a quick ratio of 1.86, a current ratio of 2.41 and a debt-to-equity ratio of 0.06. The firm has a market cap of $24.47 billion, a price-to-earnings ratio of 23.96, a price-to-earnings-growth ratio of 0.30 and a beta of 1.44. First Solar, Inc. has a 1 year low of $129.21 and a 1 year high of $306.77. The stock’s fifty day moving average is $239.20 and its 200 day moving average is $188.35.

First Solar (NASDAQ:FSLR) last released its quarterly earnings data on Wednesday, May 1st. The solar cell manufacturer reported $2.20 earnings per share for the quarter, topping the consensus estimate of $1.90 by $0.30. The business had revenue of $794.10 million during the quarter, compared to analysts’ expectations of $718.19 million. First Solar had a return on equity of 16.24% and a net margin of 28.75%. The business’s revenue was up 44.8% on a year-over-year basis. During the same quarter last year, the business posted $0.40 EPS. As a group, equities research analysts expect that First Solar, Inc. will post 13.58 earnings per share for the current fiscal year.

First Solar 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.