Harmony Asset Management LLC Has $3.16 Million Stake in First Solar, Inc. $FSLR

Harmony Asset Management LLC lifted its position in First Solar, Inc. (NASDAQ:FSLR) by 26.1% in the fourth quarter, HoldingsChannel.com reports. The firm owned 12,090 shares of the solar cell manufacturer’s stock after acquiring an additional 2,505 shares during the period. First Solar comprises 1.1% of Harmony Asset Management LLC’s investment portfolio, making the stock its 22nd largest holding. Harmony Asset Management LLC’s holdings in First Solar were worth $3,158,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Aventura Private Wealth LLC acquired a new position in shares of First Solar in the fourth quarter valued at $25,000. Larson Financial Group LLC raised its stake in First Solar by 117.0% during the fourth quarter. Larson Financial Group LLC now owns 102 shares of the solar cell manufacturer’s stock worth $27,000 after acquiring an additional 55 shares in the last quarter. Elyxium Wealth LLC acquired a new position in First Solar during the fourth quarter worth $30,000. Strategic Wealth Investment Group LLC acquired a new position in First Solar during the second quarter worth $26,000. Finally, Torren Management LLC acquired a new position in First Solar during the fourth quarter worth $47,000. 92.08% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Robert W. Baird reiterated a “neutral” rating and set a $205.00 price objective (down from $264.00) on shares of First Solar in a research note on Wednesday, February 25th. Wolfe Research lowered First Solar from a “strong-buy” rating to a “hold” rating in a research note on Thursday, February 26th. Jefferies Financial Group dropped their price objective on First Solar from $205.00 to $187.00 and set a “hold” rating for the company in a research note on Tuesday, April 7th. Deutsche Bank Aktiengesellschaft lowered First Solar from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $300.00 to $245.00 in a research note on Wednesday, February 25th. Finally, Needham & Company LLC increased their price objective on First Solar from $286.00 to $303.00 and gave the stock a “buy” rating in a research note on Monday, February 23rd. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, twelve have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, First Solar presently has an average rating of “Moderate Buy” and a consensus target price of $247.03.

Insiders Place Their Bets

In related news, General Counsel Jason E. Dymbort sold 9,022 shares of the firm’s stock in a transaction dated Tuesday, March 17th. The stock was sold at an average price of $199.62, for a total value of $1,800,971.64. Following the transaction, the general counsel owned 9,850 shares in the company, valued at $1,966,257. This trade represents a 47.81% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Kuntal Kumar Verma sold 3,426 shares of the firm’s stock in a transaction dated Tuesday, March 3rd. The shares were sold at an average price of $195.93, for a total value of $671,256.18. Following the completion of the transaction, the insider owned 8,334 shares in the company, valued at approximately $1,632,880.62. This represents a 29.13% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 92,430 shares of company stock valued at $18,670,055 over the last 90 days. Corporate insiders own 0.39% of the company’s stock.

First Solar Price Performance

Shares of FSLR stock opened at $237.86 on Thursday. The stock’s fifty day moving average is $202.87 and its 200-day moving average is $231.14. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.15 and a current ratio of 2.56. The stock has a market capitalization of $25.56 billion, a PE ratio of 15.37, a PEG ratio of 0.49 and a beta of 1.57. First Solar, Inc. has a 52 week low of $135.50 and a 52 week high of $285.99.

First Solar (NASDAQ:FSLR) last posted its quarterly earnings results on Thursday, April 30th. The solar cell manufacturer reported $3.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.87 by $0.35. The business had revenue of $1.04 billion for the quarter, compared to analysts’ expectations of $1.03 billion. First Solar had a return on equity of 18.01% and a net margin of 30.73%.The firm’s quarterly revenue was up 23.6% compared to the same quarter last year. During the same quarter last year, the business earned $1.95 earnings per share. Equities research analysts expect that First Solar, Inc. will post 17.64 EPS for the current fiscal year.

First Solar 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.