Pictet Asset Management Holding SA Has $11.55 Million Stock Position in First Solar, Inc. (NASDAQ:FSLR)

Pictet Asset Management Holding SA increased its holdings in First Solar, Inc. (NASDAQ:FSLR) by 14.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 65,554 shares of the solar cell manufacturer’s stock after acquiring an additional 8,162 shares during the period. Pictet Asset Management Holding SA owned about 0.06% of First Solar worth $11,553,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. Townsquare Capital LLC bought a new position in shares of First Solar in the third quarter valued at approximately $240,000. Glenmede Trust Co. NA raised its position in First Solar by 4.1% in the 3rd quarter. Glenmede Trust Co. NA now owns 2,328 shares of the solar cell manufacturer’s stock valued at $581,000 after buying an additional 91 shares during the last quarter. Public Sector Pension Investment Board boosted its holdings in First Solar by 12.6% during the 3rd quarter. Public Sector Pension Investment Board now owns 5,371 shares of the solar cell manufacturer’s stock worth $1,340,000 after acquiring an additional 600 shares during the last quarter. Benjamin Edwards Inc. bought a new stake in shares of First Solar in the 3rd quarter worth $229,000. Finally, Hilltop Holdings Inc. purchased a new stake in shares of First Solar in the third quarter valued at about $316,000. Institutional investors own 92.08% of the company’s stock.

First Solar Stock Up 1.8 %

FSLR stock opened at $129.82 on Thursday. The company’s 50 day moving average is $146.99 and its 200 day moving average is $182.93. The stock has a market cap of $13.90 billion, a price-to-earnings ratio of 11.18, 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, Inc. has a 1-year low of $120.60 and a 1-year high of $306.77.

First Solar (NASDAQ:FSLR) last posted 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). First Solar had a net margin of 32.41% and a return on equity of 17.56%. The company had revenue of $1.51 billion for the quarter, compared to analysts’ expectations of $1.48 billion. Sell-side analysts predict that First Solar, Inc. will post 13.05 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Alexander R. Bradley sold 599 shares of the business’s stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $133.75, for a total value of $80,116.25. Following the completion of the sale, the chief financial officer now directly owns 45,717 shares in the company, valued at approximately $6,114,648.75. The trade was a 1.29 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Kuntal Kumar Verma sold 7,475 shares of the stock in a transaction on Friday, February 28th. The shares were sold at an average price of $136.60, for a total transaction of $1,021,085.00. Following the transaction, the insider now directly owns 3,549 shares in the company, valued at approximately $484,793.40. This represents a 67.81 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 34,311 shares of company stock valued at $4,767,158 over the last 90 days. Insiders own 0.58% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Morgan Stanley reduced their price objective on shares of First Solar from $297.00 to $238.00 and set an “overweight” rating for the company in a research report on Thursday, February 27th. Deutsche Bank Aktiengesellschaft set a $265.00 price target on First Solar in a research report on Thursday, February 27th. BMO Capital Markets restated an “outperform” rating and issued a $230.00 price objective (down previously from $260.00) on shares of First Solar in a research note on Wednesday, February 26th. Truist Financial reiterated a “buy” rating and set a $245.00 target price (down from $285.00) on shares of First Solar in a research note on Wednesday. Finally, JPMorgan Chase & Co. reduced their price target on shares of First Solar from $282.00 to $268.00 and set an “overweight” rating for the company in a research report on Wednesday, February 26th. Four equities research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $260.42.

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.