CoreFirst Bank & Trust Invests $54,000 in First Solar, Inc. (NASDAQ:FSLR)

CoreFirst Bank & Trust acquired a new stake in shares of First Solar, Inc. (NASDAQ:FSLR) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 305 shares of the solar cell manufacturer’s stock, valued at approximately $54,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Advisors Asset Management Inc. increased its position in shares of First Solar by 8.6% during the 3rd quarter. Advisors Asset Management Inc. now owns 5,718 shares of the solar cell manufacturer’s stock valued at $1,426,000 after purchasing an additional 452 shares during the period. Cerity Partners LLC grew its holdings in First Solar by 60.0% during the third quarter. Cerity Partners LLC now owns 7,457 shares of the solar cell manufacturer’s stock worth $1,860,000 after acquiring an additional 2,796 shares during the period. Larson Financial Group LLC raised its position in First Solar by 214.0% in the third quarter. Larson Financial Group LLC now owns 157 shares of the solar cell manufacturer’s stock worth $39,000 after acquiring an additional 107 shares in the last quarter. Daiwa Securities Group Inc. lifted its holdings in First Solar by 5.3% in the 3rd quarter. Daiwa Securities Group Inc. now owns 23,975 shares of the solar cell manufacturer’s stock valued at $5,980,000 after acquiring an additional 1,208 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd bought a new position in shares of First Solar during the 3rd quarter valued at about $360,000. Institutional investors own 92.08% of the company’s stock.

First Solar Stock Up 2.0 %

FSLR opened at $131.46 on Wednesday. The company has a market capitalization of $14.07 billion, a PE ratio of 11.32, 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 current ratio of 2.14 and a quick ratio of 1.44. First Solar, Inc. has a fifty-two week low of $124.96 and a fifty-two week high of $306.77. The business has a 50-day moving average of $154.08 and a 200-day moving average of $186.71.

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

Insider Activity at First Solar

In related news, CFO Alexander R. Bradley sold 599 shares of the firm’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 value of $80,116.25. Following the transaction, the chief financial officer now directly owns 45,717 shares of the company’s stock, valued at approximately $6,114,648.75. This trade represents a 1.29 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Mark R. Widmar sold 21,542 shares of the company’s stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 103,403 shares of the company’s stock, valued at $14,589,129.27. The trade was a 17.24 % 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 valued at $4,767,158. Insiders own 0.58% of the company’s stock.

Analyst Upgrades and Downgrades

FSLR has been the topic of a number of research reports. Deutsche Bank Aktiengesellschaft set a $265.00 target price on shares of First Solar in a report on Thursday, February 27th. StockNews.com upgraded First Solar from a “sell” rating to a “hold” rating in a research report on Thursday, January 2nd. Citigroup reduced their price objective on First Solar from $254.00 to $236.00 and set a “neutral” rating for the company in a research note on Wednesday, February 26th. Morgan Stanley cut their target price on First Solar from $297.00 to $238.00 and set an “overweight” rating on the stock in a research report on Thursday, February 27th. Finally, Piper Sandler decreased their price target on First Solar from $250.00 to $230.00 and set an “overweight” 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 stock. According to data from MarketBeat, First Solar currently has an average rating of “Moderate Buy” and a consensus 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.