Bank Julius Baer & Co. Ltd Zurich Acquires 172,117 Shares of First Solar, Inc. (NASDAQ:FSLR)

Bank Julius Baer & Co. Ltd Zurich increased its holdings in shares of First Solar, Inc. (NASDAQ:FSLR) by 2,009.8% in the 4th quarter, HoldingsChannel reports. The firm owned 180,681 shares of the solar cell manufacturer’s stock after acquiring an additional 172,117 shares during the period. Bank Julius Baer & Co. Ltd Zurich’s holdings in First Solar were worth $31,128,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. Advisors Asset Management Inc. grew its stake in First Solar by 0.5% in the third quarter. Advisors Asset Management Inc. now owns 18,634 shares of the solar cell manufacturer’s stock valued at $3,011,000 after acquiring an additional 85 shares during the period. Hanson & Doremus Investment Management grew its stake in First Solar by 0.7% in the third quarter. Hanson & Doremus Investment Management now owns 12,294 shares of the solar cell manufacturer’s stock valued at $1,987,000 after acquiring an additional 86 shares during the period. Blue Trust Inc. grew its stake in First Solar by 24.3% in the fourth quarter. Blue Trust Inc. now owns 445 shares of the solar cell manufacturer’s stock valued at $71,000 after acquiring an additional 87 shares during the period. Guinness Atkinson Asset Management Inc grew its stake in First Solar by 1.2% in the third quarter. Guinness Atkinson Asset Management Inc now owns 7,409 shares of the solar cell manufacturer’s stock valued at $1,197,000 after acquiring an additional 90 shares during the period. Finally, ABLE Financial Group LLC grew its stake in First Solar by 7.5% in the fourth quarter. ABLE Financial Group LLC now owns 1,440 shares of the solar cell manufacturer’s stock valued at $248,000 after acquiring an additional 100 shares during the period. Institutional investors and hedge funds own 92.08% of the company’s stock.

First Solar Trading Up 2.1 %

FSLR stock traded up $3.71 during trading on Friday, hitting $178.73. 1,338,504 shares of the company traded hands, compared to its average volume of 2,076,650. The firm has a market capitalization of $19.13 billion, a PE ratio of 23.09, a P/E/G ratio of 0.30 and a beta of 1.41. First Solar, Inc. has a 1 year low of $129.21 and a 1 year high of $232.00. The company has a 50-day moving average of $163.40 and a 200-day moving average of $157.20. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.92 and a current ratio of 3.55.

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

Insider Activity

In other First Solar news, 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 completion of the sale, the insider now owns 37,412 shares of the company’s stock, valued at approximately $6,584,512. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, CTO Markus Gloeckler sold 1,937 shares of First Solar stock in a transaction on Thursday, April 4th. The stock was sold at an average price of $175.00, for a total value of $338,975.00. Following the completion of the sale, the chief technology officer now owns 12,536 shares of the company’s stock, valued at $2,193,800. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 completion of the sale, the insider now directly owns 37,412 shares of the company’s stock, valued at approximately $6,584,512. The disclosure for this sale can be found here. Insiders sold a total of 26,620 shares of company stock worth $4,269,540 in the last quarter. 0.58% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

FSLR has been the subject of several recent research reports. Evercore ISI upgraded First Solar from an “in-line” rating to an “outperform” rating and set a $227.00 price target for the company in a report on Tuesday. Royal Bank of Canada reissued an “outperform” rating and issued a $195.00 price objective on shares of First Solar in a research report on Wednesday, February 28th. Barclays boosted their price objective on First Solar from $224.00 to $227.00 and gave the stock an “overweight” rating in a research report on Friday, April 19th. Oppenheimer reissued an “outperform” rating and issued a $269.00 price objective on shares of First Solar in a research report on Wednesday, April 17th. Finally, Janney Montgomery Scott initiated coverage on First Solar in a research report on Friday, April 12th. They issued a “buy” rating and a $236.00 price objective on the stock. Three research analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $231.36.

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.