Grace & White Inc. NY Buys 400 Shares of First Solar, Inc. (NASDAQ:FSLR)

Grace & White Inc. NY grew its holdings in shares of First Solar, Inc. (NASDAQ:FSLR) by 0.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 87,905 shares of the solar cell manufacturer’s stock after acquiring an additional 400 shares during the quarter. First Solar comprises 2.7% of Grace & White Inc. NY’s investment portfolio, making the stock its 11th largest position. Grace & White Inc. NY owned about 0.08% of First Solar worth $15,144,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. GAMMA Investing LLC purchased a new position in First Solar in the 4th quarter worth approximately $167,000. Parkside Financial Bank & Trust grew its stake in First Solar by 531.5% in the fourth quarter. Parkside Financial Bank & Trust now owns 2,507 shares of the solar cell manufacturer’s stock worth $432,000 after purchasing an additional 2,110 shares during the period. Significant Wealth Partners LLC purchased a new stake in First Solar in the fourth quarter worth $355,000. Handelsbanken Fonder AB grew its stake in First Solar by 12.1% in the fourth quarter. Handelsbanken Fonder AB now owns 21,281 shares of the solar cell manufacturer’s stock worth $3,666,000 after purchasing an additional 2,300 shares during the period. Finally, CWM LLC grew its stake in First Solar by 16.1% in the fourth quarter. CWM LLC now owns 3,171 shares of the solar cell manufacturer’s stock worth $546,000 after purchasing an additional 439 shares during the period. Institutional investors own 92.08% of the company’s stock.

First Solar Trading Up 2.2 %

Shares of FSLR stock traded up $3.82 on Tuesday, reaching $180.10. 1,979,963 shares of the company’s stock were exchanged, compared to its average volume of 2,090,990. First Solar, Inc. has a 52 week low of $129.21 and a 52 week high of $232.00. The company has a current ratio of 3.55, a quick ratio of 2.92 and a debt-to-equity ratio of 0.07. The stock has a market capitalization of $19.28 billion, a PE ratio of 22.78, a P/E/G ratio of 0.30 and a beta of 1.41. The company’s fifty day simple moving average is $161.72 and its 200 day simple moving average is $156.46.

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

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on FSLR. 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 research note on Wednesday, April 10th. Mizuho increased their target price on First Solar from $188.00 to $196.00 and gave the stock a “buy” rating in a research note on Wednesday, January 3rd. Barclays increased their target price on First Solar from $224.00 to $227.00 and gave the stock an “overweight” rating in a research note on Friday. Royal Bank of Canada reissued an “outperform” rating and issued a $195.00 target price on shares of First Solar in a research note on Wednesday, February 28th. Finally, Evercore ISI raised First Solar from an “in-line” rating to an “outperform” rating and set a $227.00 target price on the stock in a research note on Tuesday. Three analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $231.36.

Insider Activity at First Solar

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 transaction of $236,640.00. Following 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 filing with the SEC, which is available at 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 transaction of $236,640.00. Following 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 filing with the SEC, which is available at the SEC website. Also, insider Georges Antoun sold 2,400 shares of First Solar stock in a transaction on Thursday, April 4th. The stock was sold at an average price of $176.00, for a total value of $422,400.00. Following the transaction, the insider now owns 37,412 shares in the company, valued at approximately $6,584,512. The disclosure for this sale can be found here. In the last quarter, insiders have sold 26,620 shares of company stock valued at $4,269,540. 0.58% of the stock is owned by company insiders.

First Solar 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.