Boston Common Asset Management LLC Buys 7,795 Shares of First Solar, Inc. (NASDAQ:FSLR)

Boston Common Asset Management LLC lifted its stake in First Solar, Inc. (NASDAQ:FSLR) by 12.6% in the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 69,434 shares of the solar cell manufacturer’s stock after purchasing an additional 7,795 shares during the quarter. Boston Common Asset Management LLC’s holdings in First Solar were worth $17,320,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Sumitomo Mitsui Trust Holdings Inc. increased its position in shares of First Solar by 6.3% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 259,177 shares of the solar cell manufacturer’s stock worth $43,749,000 after acquiring an additional 15,430 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in shares of First Solar by 20.3% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 121,055 shares of the solar cell manufacturer’s stock valued at $20,434,000 after buying an additional 20,465 shares during the period. Legend Financial Advisors Inc. purchased a new position in shares of First Solar during the first quarter valued at $759,000. Burford Brothers Inc. purchased a new stake in First Solar in the fourth quarter worth about $3,539,000. Finally, Vanguard Group Inc. grew its holdings in First Solar by 0.9% during the 1st quarter. Vanguard Group Inc. now owns 12,257,053 shares of the solar cell manufacturer’s stock worth $2,068,991,000 after acquiring an additional 105,236 shares in the last quarter. Institutional investors own 92.08% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on FSLR shares. Jefferies Financial Group reduced their price target on shares of First Solar from $271.00 to $266.00 and set a “buy” rating for the company in a report on Thursday. UBS Group upped their target price on First Solar from $350.00 to $360.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Royal Bank of Canada reiterated an “outperform” rating and issued a $315.00 price target on shares of First Solar in a report on Wednesday, July 31st. Truist Financial began coverage on First Solar in a research note on Thursday, September 26th. They set a “buy” rating and a $300.00 price objective for the company. Finally, Hsbc Global Res upgraded First Solar to a “strong-buy” rating in a research note on Wednesday. Four analysts have rated the stock with a hold rating, twenty-two have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, First Solar presently has a consensus rating of “Moderate Buy” and an average price target of $285.44.

Insider Activity

In other First Solar news, CAO Byron Michael Jeffers sold 500 shares of First Solar stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $220.00, for a total value of $110,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, CAO Byron Michael Jeffers sold 500 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $220.00, for a total value of $110,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Patrick James Buehler sold 8,619 shares of First Solar stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $222.00, for a total transaction of $1,913,418.00. Following the completion of the transaction, the insider now owns 3,468 shares of the company’s stock, valued at $769,896. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 10,885 shares of company stock valued at $2,405,757. 0.58% of the stock is currently owned by corporate insiders.

First Solar Price Performance

NASDAQ:FSLR opened at $205.04 on Friday. The company has a market capitalization of $21.95 billion, a P/E ratio of 18.31, a P/E/G ratio of 0.38 and a beta of 1.44. The company has a quick ratio of 1.65, a current ratio of 2.23 and a debt-to-equity ratio of 0.06. First Solar, Inc. has a 52 week low of $129.21 and a 52 week high of $306.77. The stock’s fifty day moving average is $227.59 and its two-hundred day moving average is $220.72.

First Solar (NASDAQ:FSLR) last announced its earnings results on Tuesday, July 30th. The solar cell manufacturer reported $3.25 earnings per share for the quarter, topping the consensus estimate of $2.69 by $0.56. First Solar had a net margin of 31.98% and a return on equity of 17.73%. The company had revenue of $1.01 billion during the quarter, compared to analyst estimates of $939.71 million. During the same quarter last year, the firm posted $1.85 earnings per share. First Solar’s revenue was up 24.6% compared to the same quarter last year. Equities analysts expect that First Solar, Inc. will post 13.53 EPS for the current year.

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.