Nomura Asset Management Co. Ltd. Has $5.45 Million Position in First Solar, Inc. (NASDAQ:FSLR)

Nomura Asset Management Co. Ltd. boosted its holdings in shares of First Solar, Inc. (NASDAQ:FSLR) by 0.3% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 30,948 shares of the solar cell manufacturer’s stock after acquiring an additional 81 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in First Solar were worth $5,454,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Duff & Phelps Investment Management Co. increased its holdings in First Solar by 23.5% in the fourth quarter. Duff & Phelps Investment Management Co. now owns 14,384 shares of the solar cell manufacturer’s stock valued at $2,535,000 after purchasing an additional 2,734 shares during the last quarter. New Age Alpha Advisors LLC acquired a new position in shares of First Solar during the 4th quarter worth about $533,000. Triodos Investment Management BV increased its stake in shares of First Solar by 119.0% in the 4th quarter. Triodos Investment Management BV now owns 208,450 shares of the solar cell manufacturer’s stock valued at $36,737,000 after acquiring an additional 113,250 shares during the last quarter. Norges Bank acquired a new stake in shares of First Solar in the 4th quarter valued at approximately $317,399,000. Finally, Blair William & Co. IL boosted its stake in First Solar by 25.1% during the 4th quarter. Blair William & Co. IL now owns 7,302 shares of the solar cell manufacturer’s stock worth $1,287,000 after acquiring an additional 1,467 shares during the last quarter. Institutional investors own 92.08% of the company’s stock.

Insider Transactions at First Solar

In other news, CEO Mark R. Widmar sold 1,966 shares of the business’s stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $133.75, for a total transaction of $262,952.50. Following the completion of the sale, the chief executive officer now owns 111,890 shares in the company, valued at $14,965,287.50. The trade was a 1.73 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CTO Markus Gloeckler sold 380 shares of the stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $133.75, for a total value of $50,825.00. Following the transaction, the chief technology officer now owns 17,594 shares in the company, valued at approximately $2,353,197.50. This trade represents a 2.11 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 34,311 shares of company stock worth $4,767,158. 0.58% of the stock is owned by insiders.

Analyst Ratings Changes

Several research firms have weighed in on FSLR. Citigroup cut their target price on shares of First Solar from $254.00 to $236.00 and set a “neutral” rating on the stock in a report on Wednesday, February 26th. Morgan Stanley dropped their price objective on First Solar from $297.00 to $238.00 and set an “overweight” rating on the stock in a research note on Thursday, February 27th. Piper Sandler lowered their price target on First Solar from $250.00 to $230.00 and set an “overweight” rating for the company in a report on Wednesday, February 26th. JPMorgan Chase & Co. cut their price objective on First Solar from $282.00 to $268.00 and set an “overweight” rating on the stock in a report on Wednesday, February 26th. Finally, Truist Financial reissued a “buy” rating and set a $285.00 target price (down from $300.00) on shares of First Solar in a research note on Wednesday, February 26th. Four research 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’s stock. According to MarketBeat.com, First Solar currently has a consensus rating of “Moderate Buy” and an average price target of $262.08.

First Solar Trading Up 0.9 %

Shares of NASDAQ:FSLR opened at $127.57 on Wednesday. The company has a 50-day simple moving average of $147.83 and a 200 day simple moving average of $183.30. The company has a market capitalization of $13.66 billion, a P/E ratio of 10.99, a price-to-earnings-growth ratio of 0.19 and a beta of 1.52. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.44 and a current ratio of 2.14. First Solar, Inc. has a 52-week low of $120.60 and a 52-week high of $306.77.

First Solar (NASDAQ:FSLR) last posted its earnings results on Tuesday, February 25th. The solar cell manufacturer reported $3.65 earnings per share for the quarter, missing analysts’ consensus estimates of $4.81 by ($1.16). First Solar had a return on equity of 17.56% and a net margin of 32.41%. The business had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.48 billion. Sell-side analysts forecast that First Solar, Inc. will post 13.05 earnings per share for the current 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.