Quintet Private Bank Europe S.A. Invests $17.84 Million in First Solar, Inc. $FSLR

Quintet Private Bank Europe S.A. acquired a new stake in First Solar, Inc. (NASDAQ:FSLR) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 68,309 shares of the solar cell manufacturer’s stock, valued at approximately $17,844,000. First Solar comprises 1.0% of Quintet Private Bank Europe S.A.’s portfolio, making the stock its 27th biggest position. Quintet Private Bank Europe S.A. owned about 0.06% of First Solar at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Linden Thomas Advisory Services LLC grew its stake in shares of First Solar by 1.7% during the third quarter. Linden Thomas Advisory Services LLC now owns 2,287 shares of the solar cell manufacturer’s stock valued at $504,000 after acquiring an additional 39 shares in the last quarter. Signaturefd LLC lifted its stake in shares of First Solar by 2.6% in the third quarter. Signaturefd LLC now owns 1,879 shares of the solar cell manufacturer’s stock worth $414,000 after acquiring an additional 47 shares in the last quarter. Figure 8 Investment Strategies LLC lifted its stake in shares of First Solar by 0.6% in the third quarter. Figure 8 Investment Strategies LLC now owns 8,116 shares of the solar cell manufacturer’s stock worth $1,790,000 after acquiring an additional 48 shares in the last quarter. Rathbones Group PLC boosted its holdings in First Solar by 1.0% in the third quarter. Rathbones Group PLC now owns 4,930 shares of the solar cell manufacturer’s stock valued at $1,087,000 after purchasing an additional 51 shares during the last quarter. Finally, Allworth Financial LP grew its stake in First Solar by 5.9% during the 3rd quarter. Allworth Financial LP now owns 956 shares of the solar cell manufacturer’s stock valued at $211,000 after purchasing an additional 53 shares in the last quarter. Institutional investors and hedge funds own 92.08% of the company’s stock.

First Solar Stock Performance

NASDAQ:FSLR opened at $195.32 on Friday. The company has a market cap of $20.96 billion, a PE ratio of 13.75, a P/E/G ratio of 0.35 and a beta of 1.61. The business’s 50 day moving average is $211.91 and its two-hundred day moving average is $235.26. The company has a quick ratio of 2.35, a current ratio of 2.67 and a debt-to-equity ratio of 0.03. First Solar, Inc. has a 52 week low of $116.56 and a 52 week high of $285.99.

First Solar (NASDAQ:FSLR) last issued its quarterly earnings results on Tuesday, February 24th. The solar cell manufacturer reported $4.84 earnings per share for the quarter, missing analysts’ consensus estimates of $5.22 by ($0.38). The firm had revenue of $1.68 billion during the quarter, compared to the consensus estimate of $1.59 billion. First Solar had a net margin of 29.28% and a return on equity of 17.32%. First Solar’s revenue was up 11.1% compared to the same quarter last year. During the same quarter last year, the firm posted $3.65 earnings per share. On average, analysts predict that First Solar, Inc. will post 13.05 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. Weiss Ratings restated a “hold (c+)” rating on shares of First Solar in a report on Friday, March 27th. JPMorgan Chase & Co. decreased their price target on shares of First Solar from $303.00 to $256.00 and set an “overweight” rating for the company in a research report on Wednesday, February 25th. TD Cowen cut their price target on shares of First Solar from $320.00 to $253.00 and set a “buy” rating on the stock in a report on Wednesday, February 25th. Glj Research downgraded shares of First Solar from a “buy” rating to a “hold” rating and reduced their price objective for the company from $314.43 to $207.82 in a research note on Wednesday, March 4th. Finally, DZ Bank raised shares of First Solar to a “strong sell” rating in a report on Thursday, February 26th. Twenty investment analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $247.79.

Insider Activity

In related news, insider Kuntal Kumar Verma sold 180 shares of the business’s stock in a transaction dated Tuesday, March 17th. The shares were sold at an average price of $199.53, for a total transaction of $35,915.40. Following the completion of the sale, the insider owned 9,436 shares of the company’s stock, valued at $1,882,765.08. This represents a 1.87% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel Jason E. Dymbort sold 9,022 shares of the stock in a transaction dated Tuesday, March 17th. The stock was sold at an average price of $199.62, for a total transaction of $1,800,971.64. Following the sale, the general counsel owned 9,850 shares in the company, valued at approximately $1,966,257. This trade represents a 47.81% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 75,989 shares of company stock valued at $14,921,902 over the last quarter. 0.48% of the stock is owned by company insiders.

First Solar Profile

First Solar, Inc (NASDAQ: FSLR) is a United States–based solar technology company best known for designing and manufacturing thin?film photovoltaic (PV) modules that use cadmium telluride (CdTe) semiconductor technology. The company supplies PV modules and delivers integrated solar power solutions for utility?scale projects, positioning itself as a provider of both components and complete solar energy systems rather than solely a parts supplier. First Solar was founded in 1999 and is headquartered in Tempe, Arizona.

Beyond module manufacturing, First Solar offers a range of project services including development support, engineering, procurement and construction (EPC) services, and operations and maintenance (O&M) for large-scale solar installations.