Brandywine Global Investment Management LLC Invests $11.18 Million in First Solar, Inc. (NASDAQ:FSLR)

Brandywine Global Investment Management LLC acquired a new stake in shares of First Solar, Inc. (NASDAQ:FSLR) in the fourth quarter, HoldingsChannel reports. The fund acquired 63,454 shares of the solar cell manufacturer’s stock, valued at approximately $11,183,000.

Several other hedge funds also recently bought and sold shares of the company. Smartleaf Asset Management LLC grew its stake in shares of First Solar by 31.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 262 shares of the solar cell manufacturer’s stock valued at $47,000 after buying an additional 63 shares in the last quarter. Crews Bank & Trust acquired a new stake in First Solar in the fourth quarter valued at approximately $53,000. Hudson Edge Investment Partners Inc. acquired a new stake in First Solar in the fourth quarter valued at approximately $53,000. CoreFirst Bank & Trust bought a new stake in First Solar in the fourth quarter worth approximately $54,000. Finally, Financial Avengers Inc. acquired a new position in shares of First Solar during the 3rd quarter worth $77,000. 92.08% of the stock is owned by institutional investors and hedge funds.

First Solar Price Performance

NASDAQ:FSLR opened at $126.43 on Tuesday. 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 company has a 50-day moving average of $148.95 and a 200-day moving average of $184.01. First Solar, Inc. has a 52 week low of $120.60 and a 52 week high of $306.77. The company has a market capitalization of $13.54 billion, a price-to-earnings ratio of 10.89, a PEG ratio of 0.19 and a beta of 1.52.

First Solar (NASDAQ:FSLR) last announced its quarterly earnings results on Tuesday, February 25th. The solar cell manufacturer reported $3.65 EPS 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 the consensus estimate of $1.48 billion. As a group, equities research analysts anticipate that First Solar, Inc. will post 13.05 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms recently issued reports on FSLR. Deutsche Bank Aktiengesellschaft set a $265.00 price objective on shares of First Solar in a research note on Thursday, February 27th. Truist Financial reissued a “buy” rating and set a $285.00 price objective (down previously from $300.00) on shares of First Solar in a report on Wednesday, February 26th. Roth Mkm restated a “buy” rating and issued a $280.00 target price on shares of First Solar in a report on Wednesday, February 26th. Royal Bank of Canada lowered their price target on First Solar from $280.00 to $251.00 and set an “outperform” rating on the stock in a report on Wednesday, February 26th. Finally, Mizuho upgraded shares of First Solar from a “neutral” rating to an “outperform” rating and boosted their price objective for the stock from $218.00 to $259.00 in a research note on Tuesday, February 11th. Four analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, First Solar has an average rating of “Moderate Buy” and an average target price of $262.08.

Insider Activity at First Solar

In related news, CFO Alexander R. Bradley sold 599 shares of First Solar stock in a transaction dated Monday, March 17th. The shares were 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 of the company’s stock, valued at $6,114,648.75. This trade represents a 1.29 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Mark R. Widmar sold 1,272 shares of the company’s stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $132.96, for a total transaction of $169,125.12. Following the sale, the chief executive officer now directly owns 109,000 shares in the company, valued at $14,492,640. This represents a 1.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 34,311 shares of company stock valued at $4,767,158 in the last 90 days. 0.58% of the stock is owned by corporate insiders.

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.