26,211 Shares in First Solar, Inc. (NASDAQ:FSLR) Purchased by Sycomore Asset Management

Sycomore Asset Management purchased a new position in First Solar, Inc. (NASDAQ:FSLR) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 26,211 shares of the solar cell manufacturer’s stock, valued at approximately $4,520,000.

Other institutional investors also recently bought and sold shares of the company. Baystate Wealth Management LLC bought a new position in First Solar in the fourth quarter worth about $29,000. First Pacific Financial bought a new position in First Solar in the third quarter worth about $27,000. Estabrook Capital Management bought a new position in First Solar in the third quarter worth about $29,000. Headinvest LLC bought a new position in First Solar in the third quarter worth about $30,000. Finally, Rakuten Securities Inc. bought a new position in First Solar in the fourth quarter worth about $34,000. 92.08% of the stock is owned by institutional investors.

First Solar Stock Performance

FSLR traded down $2.62 during trading on Wednesday, hitting $177.48. The company’s stock had a trading volume of 2,084,630 shares, compared to its average volume of 2,090,924. The company has a quick ratio of 2.92, a current ratio of 3.55 and a debt-to-equity ratio of 0.07. First Solar, Inc. has a one year low of $129.21 and a one year high of $232.00. The firm has a market cap of $19.00 billion, a PE ratio of 22.93, a P/E/G ratio of 0.30 and a beta of 1.41. The business’s 50 day simple moving average is $162.66 and its 200-day simple moving average is $156.83.

First Solar (NASDAQ:FSLR) last released its quarterly earnings results on Tuesday, February 27th. The solar cell manufacturer reported $3.25 earnings per share for the quarter, topping the consensus estimate of $3.19 by $0.06. The business had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.31 billion. First Solar had a net margin of 25.03% and a return on equity of 13.80%. The company’s quarterly revenue was up 15.5% on a year-over-year basis. During the same period last year, the firm earned ($0.07) earnings per share. As a group, sell-side analysts predict that First Solar, Inc. will post 13.55 EPS for the current fiscal year.

Analyst Ratings Changes

FSLR has been the topic of a number of recent research reports. Barclays upped their price objective on shares of First Solar from $224.00 to $227.00 and gave the stock an “overweight” rating in a report on Friday, April 19th. Roth Mkm restated a “buy” rating and issued a $230.00 price objective on shares of First Solar in a report on Thursday, April 18th. Bank of America upped their price objective on shares of First Solar from $187.00 to $194.00 and gave the stock a “buy” rating in a report on Wednesday, April 10th. DZ Bank initiated coverage on shares of First Solar in a report on Wednesday, April 17th. They issued a “buy” rating and a $205.00 price objective on the stock. Finally, Oppenheimer restated an “outperform” rating and issued a $269.00 price objective on shares of First Solar in a report on Wednesday, April 17th. Three analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $231.36.

Insider Activity

In other news, insider Kuntal Kumar Verma sold 250 shares of the firm’s stock in a transaction on Monday, March 18th. The shares were sold at an average price of $148.34, for a total transaction of $37,085.00. Following the sale, the insider now directly owns 5,170 shares in the company, valued at approximately $766,917.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other First Solar news, Director R Craig Kennedy sold 1,500 shares of First Solar stock in a transaction on Friday, March 1st. The shares were sold at an average price of $157.76, for a total value of $236,640.00. Following the sale, the director now directly owns 15,641 shares in the company, valued at approximately $2,467,524.16. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Kuntal Kumar Verma sold 250 shares of First Solar stock in a transaction on Monday, March 18th. The shares were sold at an average price of $148.34, for a total transaction of $37,085.00. Following the completion of the sale, the insider now owns 5,170 shares in the company, valued at $766,917.80. The disclosure for this sale can be found here. Insiders have sold 26,620 shares of company stock worth $4,269,540 in the last three months. Company insiders own 0.58% of the company’s stock.

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.