Brown Advisory Inc. Boosts Stake in First Solar, Inc. (NASDAQ:FSLR)

Brown Advisory Inc. raised its position in First Solar, Inc. (NASDAQ:FSLR) by 26.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,173 shares of the solar cell manufacturer’s stock after purchasing an additional 666 shares during the quarter. Brown Advisory Inc.’s holdings in First Solar were worth $547,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Robeco Institutional Asset Management B.V. grew its stake in First Solar by 33.8% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 12,826 shares of the solar cell manufacturer’s stock worth $2,210,000 after acquiring an additional 3,239 shares in the last quarter. Zevenbergen Capital Investments LLC grew its stake in First Solar by 36.8% in the 4th quarter. Zevenbergen Capital Investments LLC now owns 336,084 shares of the solar cell manufacturer’s stock worth $57,901,000 after acquiring an additional 90,390 shares in the last quarter. Trillium Asset Management LLC grew its stake in First Solar by 34.5% in the 4th quarter. Trillium Asset Management LLC now owns 227,416 shares of the solar cell manufacturer’s stock worth $39,180,000 after acquiring an additional 58,325 shares in the last quarter. Nicola Wealth Management LTD. bought a new position in First Solar in the 4th quarter worth about $2,498,000. Finally, Janney Montgomery Scott LLC grew its stake in First Solar by 1,176.5% in the 4th quarter. Janney Montgomery Scott LLC now owns 16,875 shares of the solar cell manufacturer’s stock worth $2,907,000 after acquiring an additional 15,553 shares in the last quarter. 92.08% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. UBS Group upped their target price on shares of First Solar from $252.00 to $270.00 and gave the stock a “buy” rating in a research note on Tuesday, May 21st. Susquehanna restated a “positive” rating and issued a $258.00 target price on shares of First Solar in a research note on Friday, April 5th. Wells Fargo & Company upgraded shares of First Solar from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $187.00 to $250.00 in a research note on Friday, April 19th. Guggenheim dropped their price objective on shares of First Solar from $359.00 to $356.00 and set a “buy” rating on the stock in a research note on Thursday, May 2nd. Finally, Morgan Stanley increased their price objective on shares of First Solar from $245.00 to $248.00 and gave the company an “overweight” rating in a research note on Thursday, May 2nd. Two research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the stock. Based on data from MarketBeat.com, First Solar presently has an average rating of “Moderate Buy” and a consensus price target of $239.16.

First Solar Trading Up 10.8 %

NASDAQ FSLR opened at $276.74 on Monday. The company has a fifty day simple moving average of $182.34 and a two-hundred day simple moving average of $164.69. The stock has a market cap of $29.62 billion, a P/E ratio of 29.01, a P/E/G ratio of 0.37 and a beta of 1.37. First Solar, Inc. has a 12-month low of $129.21 and a 12-month high of $278.80. The company has a current ratio of 2.41, a quick ratio of 1.86 and a debt-to-equity ratio of 0.06.

First Solar (NASDAQ:FSLR) last posted its quarterly earnings results on Wednesday, May 1st. The solar cell manufacturer reported $2.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.90 by $0.30. The business had revenue of $794.10 million during the quarter, compared to analysts’ expectations of $718.19 million. First Solar had a net margin of 28.75% and a return on equity of 16.24%. The business’s quarterly revenue was up 44.8% on a year-over-year basis. During the same quarter last year, the company posted $0.40 earnings per share. On average, analysts forecast that First Solar, Inc. will post 13.56 earnings per share for the current year.

Insider Buying and Selling

In related 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 completion of the transaction, the insider now owns 5,170 shares of the company’s stock, valued at $766,917.80. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related 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 completion of the transaction, the insider now owns 5,170 shares of the company’s stock, valued at $766,917.80. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Caroline Stockdale sold 12,406 shares of the firm’s stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $205.00, for a total transaction of $2,543,230.00. Following the transaction, the insider now directly owns 22,025 shares of the company’s stock, valued at approximately $4,515,125. The disclosure for this sale can be found here. Insiders sold a total of 51,455 shares of company stock valued at $9,617,472 over the last 90 days. 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.