Parkside Financial Bank & Trust Has $432,000 Holdings in First Solar, Inc. (NASDAQ:FSLR)

Parkside Financial Bank & Trust raised its position in shares of First Solar, Inc. (NASDAQ:FSLR) by 531.5% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 2,507 shares of the solar cell manufacturer’s stock after purchasing an additional 2,110 shares during the quarter. Parkside Financial Bank & Trust’s holdings in First Solar were worth $432,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. Significant Wealth Partners LLC acquired a new stake in First Solar during the 4th quarter valued at approximately $355,000. Handelsbanken Fonder AB boosted its holdings in shares of First Solar by 12.1% during the 4th quarter. Handelsbanken Fonder AB now owns 21,281 shares of the solar cell manufacturer’s stock worth $3,666,000 after buying an additional 2,300 shares in the last quarter. CWM LLC boosted its holdings in shares of First Solar by 16.1% during the 4th quarter. CWM LLC now owns 3,171 shares of the solar cell manufacturer’s stock worth $546,000 after buying an additional 439 shares in the last quarter. OVERSEA CHINESE BANKING Corp Ltd boosted its holdings in shares of First Solar by 934.6% during the 4th quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 19,409 shares of the solar cell manufacturer’s stock worth $3,344,000 after buying an additional 17,533 shares in the last quarter. Finally, abrdn plc boosted its holdings in shares of First Solar by 15.3% during the 4th quarter. abrdn plc now owns 266,648 shares of the solar cell manufacturer’s stock worth $45,938,000 after buying an additional 35,445 shares in the last quarter. Institutional investors and hedge funds own 92.08% of the company’s stock.

Insider Activity

In other news, Director R Craig Kennedy sold 1,500 shares of the firm’s stock in a transaction on Friday, March 1st. The stock was 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 directly owns 15,641 shares of the company’s stock, valued at approximately $2,467,524.16. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, Director R Craig Kennedy sold 1,500 shares of First Solar stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $157.76, for a total value of $236,640.00. Following the completion of the sale, the director now owns 15,641 shares of the company’s stock, valued at approximately $2,467,524.16. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Georges Antoun sold 16,667 shares of First Solar stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $155.55, for a total value of $2,592,551.85. Following the completion of the sale, the insider now directly owns 42,041 shares of the company’s stock, valued at approximately $6,539,477.55. The disclosure for this sale can be found here. Insiders sold a total of 26,620 shares of company stock valued at $4,269,540 in the last ninety days. 0.58% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

FSLR has been the topic of a number of research analyst reports. Mizuho increased their price target on First Solar from $188.00 to $196.00 and gave the stock a “buy” rating in a report on Wednesday, January 3rd. Susquehanna restated a “positive” rating and set a $258.00 price target on shares of First Solar in a report on Friday, April 5th. Royal Bank of Canada restated an “outperform” rating and set a $195.00 price target on shares of First Solar in a report on Wednesday, February 28th. Bank of America increased their target price on First Solar from $187.00 to $194.00 and gave the stock a “buy” rating in a report on Wednesday, April 10th. Finally, Wells Fargo & Company upgraded First Solar from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $187.00 to $250.00 in a report on Friday. Three analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company’s stock. According to MarketBeat.com, First Solar currently has an average rating of “Moderate Buy” and a consensus price target of $231.36.

First Solar Stock Performance

Shares of First Solar stock traded up $3.08 during trading hours on Tuesday, hitting $179.36. 1,451,994 shares of the company’s stock traded hands, compared to its average volume of 2,083,110. First Solar, Inc. has a 12-month low of $129.21 and a 12-month high of $232.00. The stock has a market capitalization of $19.20 billion, a price-to-earnings ratio of 22.78, a PEG ratio of 0.30 and a beta of 1.41. The company has a fifty day simple moving average of $161.72 and a 200-day simple moving average of $156.46. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.55 and a quick ratio of 2.92.

First Solar (NASDAQ:FSLR) last announced its earnings results on Tuesday, February 27th. The solar cell manufacturer reported $3.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.19 by $0.06. First Solar had a return on equity of 13.80% and a net margin of 25.03%. The firm had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.31 billion. During the same period last year, the firm posted ($0.07) EPS. The business’s revenue was up 15.5% compared to the same quarter last year. Equities research analysts anticipate that First Solar, Inc. will post 13.55 EPS for the current fiscal year.

First Solar Company Profile

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.