Terra Nova Asset Management LLC Boosts Stock Holdings in First Solar, Inc. (NASDAQ:FSLR)

Terra Nova Asset Management LLC boosted its position in shares of First Solar, Inc. (NASDAQ:FSLR) by 11.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,625 shares of the solar cell manufacturer’s stock after purchasing an additional 1,001 shares during the period. Terra Nova Asset Management LLC’s holdings in First Solar were worth $1,658,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the stock. Raymond James & Associates boosted its holdings in shares of First Solar by 160.6% in the 1st quarter. Raymond James & Associates now owns 26,796 shares of the solar cell manufacturer’s stock valued at $2,244,000 after buying an additional 16,515 shares during the period. American Century Companies Inc. raised its position in shares of First Solar by 13.8% during the 1st quarter. American Century Companies Inc. now owns 8,472 shares of the solar cell manufacturer’s stock worth $710,000 after buying an additional 1,030 shares in the last quarter. Cibc World Market Inc. raised its position in shares of First Solar by 71.0% during the 1st quarter. Cibc World Market Inc. now owns 7,464 shares of the solar cell manufacturer’s stock worth $625,000 after buying an additional 3,100 shares in the last quarter. Blair William & Co. IL raised its position in shares of First Solar by 1.8% during the 1st quarter. Blair William & Co. IL now owns 50,128 shares of the solar cell manufacturer’s stock worth $4,198,000 after buying an additional 890 shares in the last quarter. Finally, Sei Investments Co. raised its position in shares of First Solar by 11.6% during the 1st quarter. Sei Investments Co. now owns 25,804 shares of the solar cell manufacturer’s stock worth $2,161,000 after buying an additional 2,691 shares in the last quarter. 92.08% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on FSLR. Royal Bank of Canada reiterated an “outperform” rating and issued a $195.00 target price on shares of First Solar in a report on Wednesday, February 28th. Mizuho boosted their target price on shares of First Solar from $188.00 to $196.00 and gave the stock a “buy” rating in a report on Wednesday, January 3rd. Jefferies Financial Group started coverage on shares of First Solar in a research report on Friday, December 15th. They issued a “buy” rating and a $211.00 target price on the stock. Morgan Stanley raised shares of First Solar from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $214.00 to $237.00 in a research report on Friday, December 8th. Finally, Oppenheimer boosted their price objective on shares of First Solar from $268.00 to $269.00 and gave the company an “outperform” rating in a research report on Wednesday, February 28th. Four investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, First Solar presently has an average rating of “Moderate Buy” and an average price target of $231.48.

Insider Activity at First Solar

In related news, insider Georges Antoun sold 16,667 shares of the stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $155.55, for a total value of $2,592,551.85. Following the sale, the insider now directly owns 42,041 shares in the company, valued at approximately $6,539,477.55. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Georges Antoun sold 16,667 shares of the stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $155.55, for a total value of $2,592,551.85. Following the sale, the insider now directly owns 42,041 shares in the company, valued at approximately $6,539,477.55. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director R Craig Kennedy sold 1,500 shares of the stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $157.76, for a total transaction of $236,640.00. Following the completion of the sale, the director now owns 15,641 shares in the company, valued at $2,467,524.16. The disclosure for this sale can be found here. Insiders have sold 19,883 shares of company stock worth $3,100,837 in the last ninety days. Company insiders own 0.58% of the company’s stock.

First Solar Stock Up 0.8 %

Shares of NASDAQ:FSLR opened at $168.80 on Friday. First Solar, Inc. has a 12 month low of $129.21 and a 12 month high of $232.00. The company’s 50-day moving average price is $152.04 and its two-hundred day moving average price is $155.26. The company has a quick ratio of 2.92, a current ratio of 3.55 and a debt-to-equity ratio of 0.07. The firm has a market cap of $18.04 billion, a P/E ratio of 21.81, a P/E/G ratio of 0.29 and a beta of 1.41.

First Solar (NASDAQ:FSLR) last released its earnings results on Tuesday, February 27th. The solar cell manufacturer reported $3.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.19 by $0.06. First Solar had a net margin of 25.03% and a return on equity of 13.80%. The company had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.31 billion. During the same period in the prior year, the company posted ($0.07) EPS. The company’s revenue was up 15.5% compared to the same quarter last year. As a group, research analysts forecast that First Solar, Inc. will post 13.51 EPS for the current fiscal year.

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.