RWA Wealth Partners LLC Increases Holdings in First Solar, Inc. (NASDAQ:FSLR)

RWA Wealth Partners LLC boosted its position in First Solar, Inc. (NASDAQ:FSLR) by 787.9% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 34,032 shares of the solar cell manufacturer’s stock after purchasing an additional 30,199 shares during the period. RWA Wealth Partners LLC’s holdings in First Solar were worth $5,998,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of FSLR. Whalen Wealth Management Inc. lifted its holdings in shares of First Solar by 47.0% in the 4th quarter. Whalen Wealth Management Inc. now owns 4,859 shares of the solar cell manufacturer’s stock valued at $856,000 after buying an additional 1,554 shares during the period. Allspring Global Investments Holdings LLC raised its position in First Solar by 665.8% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 39,192 shares of the solar cell manufacturer’s stock valued at $7,308,000 after acquiring an additional 34,074 shares in the last quarter. Stifel Financial Corp lifted its holdings in First Solar by 36.9% in the third quarter. Stifel Financial Corp now owns 21,446 shares of the solar cell manufacturer’s stock valued at $5,350,000 after acquiring an additional 5,780 shares during the period. Paragon Capital Management Inc. purchased a new stake in First Solar in the 4th quarter worth approximately $1,240,000. Finally, Robeco Institutional Asset Management B.V. grew its stake in shares of First Solar by 9.0% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 595,267 shares of the solar cell manufacturer’s stock worth $104,910,000 after purchasing an additional 49,074 shares during the period. Institutional investors and hedge funds own 92.08% of the company’s stock.

Insider Transactions at First Solar

In other news, CFO Alexander R. Bradley sold 599 shares of the stock in a transaction on Monday, March 17th. The stock was sold at an average price of $133.75, for a total transaction of $80,116.25. Following the completion of the transaction, the chief financial officer now directly owns 45,717 shares in the company, valued at approximately $6,114,648.75. This represents a 1.29 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CTO Markus Gloeckler sold 380 shares of the business’s stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $133.75, for a total transaction of $50,825.00. Following the completion of the sale, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold 34,311 shares of company stock worth $4,767,158 in the last 90 days. Insiders own 0.58% of the company’s stock.

First Solar Stock Performance

NASDAQ FSLR opened at $127.32 on Monday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.44 and a current ratio of 2.14. The stock’s fifty day moving average is $150.28 and its two-hundred day moving average is $184.79. The firm has a market capitalization of $13.63 billion, a P/E ratio of 10.97, a price-to-earnings-growth ratio of 0.19 and a beta of 1.52. First Solar, Inc. has a fifty-two week low of $124.32 and a fifty-two week high of $306.77.

First Solar (NASDAQ:FSLR) last announced its quarterly earnings data on Tuesday, February 25th. The solar cell manufacturer reported $3.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.81 by ($1.16). First Solar had a net margin of 32.41% and a return on equity of 17.56%. The firm had revenue of $1.51 billion during the quarter, compared to analysts’ expectations of $1.48 billion. On average, research analysts anticipate that First Solar, Inc. will post 13.05 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on FSLR shares. UBS Group decreased their target price on shares of First Solar from $360.00 to $285.00 and set a “buy” rating for the company in a research note on Wednesday, February 26th. Seaport Res Ptn raised shares of First Solar from a “hold” rating to a “strong-buy” rating in a report on Wednesday, January 15th. Deutsche Bank Aktiengesellschaft set a $265.00 target price on shares of First Solar in a research note on Thursday, February 27th. Truist Financial restated a “buy” rating and issued a $285.00 price target (down previously from $300.00) on shares of First Solar in a research note on Wednesday, February 26th. Finally, BMO Capital Markets reaffirmed an “outperform” rating and issued a $230.00 price target (down previously from $260.00) on shares of First Solar in a 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’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $262.08.

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.