GM Advisory Group LLC Takes Position in First Solar, Inc. (NASDAQ:FSLR)

GM Advisory Group LLC acquired a new stake in First Solar, Inc. (NASDAQ:FSLR) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 10,462 shares of the solar cell manufacturer’s stock, valued at approximately $1,844,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in FSLR. Atria Investments Inc raised its stake in First Solar by 24.7% during the 3rd quarter. Atria Investments Inc now owns 2,476 shares of the solar cell manufacturer’s stock worth $618,000 after buying an additional 490 shares during the period. Oppenheimer & Co. Inc. raised its stake in First Solar by 239.8% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 3,153 shares of the solar cell manufacturer’s stock worth $786,000 after buying an additional 2,225 shares during the period. CIBC Asset Management Inc raised its stake in First Solar by 8.3% during the 3rd quarter. CIBC Asset Management Inc now owns 15,786 shares of the solar cell manufacturer’s stock worth $3,938,000 after buying an additional 1,216 shares during the period. Empowered Funds LLC raised its stake in First Solar by 404.0% during the 3rd quarter. Empowered Funds LLC now owns 7,404 shares of the solar cell manufacturer’s stock worth $1,847,000 after buying an additional 5,935 shares during the period. Finally, Natixis Advisors LLC raised its stake in First Solar by 15.2% during the 3rd quarter. Natixis Advisors LLC now owns 72,117 shares of the solar cell manufacturer’s stock worth $17,989,000 after buying an additional 9,537 shares during the period. 92.08% of the stock is owned by institutional investors and hedge funds.

First Solar Price Performance

Shares of NASDAQ FSLR opened at $127.34 on Wednesday. The stock has a fifty day simple moving average of $159.91 and a two-hundred day simple moving average of $189.73. First Solar, Inc. has a 1-year low of $124.96 and a 1-year high of $306.77. The firm has a market cap of $13.63 billion, a price-to-earnings ratio of 10.97, a price-to-earnings-growth ratio of 0.19 and a beta of 1.52. The company has a current ratio of 2.14, a quick ratio of 1.44 and a debt-to-equity ratio of 0.05.

First Solar (NASDAQ:FSLR) last announced its quarterly earnings data on Tuesday, February 25th. The solar cell manufacturer reported $3.65 earnings per share for the quarter, missing the consensus estimate of $4.81 by ($1.16). The firm had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.48 billion. First Solar had a net margin of 32.41% and a return on equity of 17.56%. Analysts anticipate that First Solar, Inc. will post 13.05 earnings per share for the current year.

Insiders Place Their Bets

In other First Solar news, CFO Alexander R. Bradley sold 599 shares of the stock in a transaction on Monday, March 17th. The stock was sold at an average price of $133.75, for a total transaction of $80,116.25. Following the sale, the chief financial officer now owns 45,717 shares in the company, valued at $6,114,648.75. This represents a 1.29 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Mark R. Widmar sold 1,966 shares of the stock in a transaction on Monday, March 17th. The stock was sold at an average price of $133.75, for a total value of $262,952.50. Following the sale, the chief executive officer now owns 111,890 shares in the company, valued at approximately $14,965,287.50. This represents a 1.73 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 34,311 shares of company stock worth $4,767,158 over the last 90 days. Corporate insiders own 0.58% of the company’s stock.

Wall Street Analyst Weigh In

FSLR has been the topic of a number of research reports. Citigroup dropped their price target on First Solar from $254.00 to $236.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 26th. Deutsche Bank Aktiengesellschaft set a $265.00 price target on First Solar in a research note on Thursday, February 27th. Morgan Stanley decreased their price objective on First Solar from $297.00 to $238.00 and set an “overweight” rating for the company in a report on Thursday, February 27th. Piper Sandler decreased their price objective on First Solar from $250.00 to $230.00 and set an “overweight” rating for the company in a report on Wednesday, February 26th. Finally, Robert W. Baird decreased their price objective on First Solar from $307.00 to $267.00 and set an “outperform” rating for the company in a report on Wednesday, December 18th. Four research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, First Solar currently has an average rating of “Moderate Buy” and an average price target of $262.08.

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.