New Age Alpha Advisors LLC Invests $533,000 in First Solar, Inc. (NASDAQ:FSLR)

New Age Alpha Advisors LLC purchased a new position in First Solar, Inc. (NASDAQ:FSLR) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 3,027 shares of the solar cell manufacturer’s stock, valued at approximately $533,000.

Other large investors also recently added to or reduced their stakes in the company. Norges Bank purchased a new position in shares of First Solar in the 4th quarter worth approximately $317,399,000. Wellington Management Group LLP boosted its stake in First Solar by 75.8% during the third quarter. Wellington Management Group LLP now owns 2,097,364 shares of the solar cell manufacturer’s stock worth $523,166,000 after buying an additional 904,498 shares during the period. Mirova US LLC increased its position in First Solar by 961.0% during the fourth quarter. Mirova US LLC now owns 646,310 shares of the solar cell manufacturer’s stock valued at $113,906,000 after acquiring an additional 585,394 shares during the last quarter. Amundi raised its stake in shares of First Solar by 31.0% in the fourth quarter. Amundi now owns 1,805,244 shares of the solar cell manufacturer’s stock valued at $336,871,000 after acquiring an additional 426,797 shares during the period. Finally, Merewether Investment Management LP lifted its holdings in shares of First Solar by 993.4% in the 3rd quarter. Merewether Investment Management LP now owns 322,936 shares of the solar cell manufacturer’s stock worth $80,553,000 after acquiring an additional 293,400 shares during the last quarter. 92.08% of the stock is owned by institutional investors.

Insider Transactions at First Solar

In related news, CEO Mark R. Widmar sold 21,542 shares of the company’s stock in a transaction on Friday, February 28th. The stock was sold at an average price of $141.09, for a total value of $3,039,360.78. Following the transaction, the chief executive officer now directly owns 103,403 shares of the company’s stock, valued at $14,589,129.27. This represents a 17.24 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Alexander R. Bradley sold 599 shares of First Solar stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $133.75, for a total value of $80,116.25. Following the sale, the chief financial officer now directly owns 45,717 shares of the company’s stock, valued at approximately $6,114,648.75. This represents a 1.29 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 34,311 shares of company stock worth $4,767,158. Insiders own 0.58% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Morgan Stanley cut their price target on shares of First Solar from $297.00 to $238.00 and set an “overweight” rating on the stock in a report on Thursday, February 27th. Bank of America reduced their price target on First Solar from $246.00 to $236.00 and set a “buy” rating on the stock in a report on Tuesday, January 28th. JPMorgan Chase & Co. decreased their price target on First Solar from $282.00 to $268.00 and set an “overweight” rating for the company in a research note on Wednesday, February 26th. Robert W. Baird cut their price objective on First Solar from $307.00 to $267.00 and set an “outperform” rating on the stock in a research report on Wednesday, December 18th. Finally, Royal Bank of Canada decreased their target price on First Solar from $280.00 to $251.00 and set an “outperform” rating for the company in a research report on Wednesday, February 26th. Four analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, First Solar currently has an average rating of “Moderate Buy” and a consensus price target of $262.08.

First Solar Stock Down 0.7 %

Shares of First Solar stock opened at $126.43 on Tuesday. First Solar, Inc. has a 52-week low of $120.60 and a 52-week high of $306.77. The firm’s 50 day moving average price is $148.95 and its 200-day moving average price is $184.01. 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 company has a market cap of $13.54 billion, a P/E ratio of 10.89, a PEG ratio of 0.19 and a beta of 1.52.

First Solar (NASDAQ:FSLR) last issued its quarterly earnings data on Tuesday, February 25th. The solar cell manufacturer reported $3.65 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 business had revenue of $1.51 billion for the quarter, compared to analysts’ expectations of $1.48 billion. On average, sell-side analysts predict that First Solar, Inc. will post 13.05 EPS 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.