KBC Group NV Acquires 128,213 Shares of First Solar, Inc. (FSLR)

KBC Group NV boosted its holdings in First Solar, Inc. (NASDAQ:FSLR) by 3,143.2% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 132,292 shares of the solar cell manufacturer’s stock after acquiring an additional 128,213 shares during the period. KBC Group NV owned about 0.13% of First Solar worth $9,390,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the business. Fulcrum Capital LLC increased its stake in shares of First Solar by 2.1% in the first quarter. Fulcrum Capital LLC now owns 70,120 shares of the solar cell manufacturer’s stock valued at $4,977,000 after purchasing an additional 1,428 shares during the period. Columbus Circle Investors increased its stake in shares of First Solar by 59.8% in the first quarter. Columbus Circle Investors now owns 294,736 shares of the solar cell manufacturer’s stock valued at $20,920,000 after purchasing an additional 110,269 shares during the period. Penserra Capital Management LLC increased its stake in shares of First Solar by 381.4% in the first quarter. Penserra Capital Management LLC now owns 1,704 shares of the solar cell manufacturer’s stock valued at $115,000 after purchasing an additional 1,350 shares during the period. Tyers Asset Management LLC increased its stake in shares of First Solar by 54.6% in the first quarter. Tyers Asset Management LLC now owns 14,028 shares of the solar cell manufacturer’s stock valued at $996,000 after purchasing an additional 4,956 shares during the period. Finally, Riverhead Capital Management LLC increased its stake in shares of First Solar by 54.0% in the first quarter. Riverhead Capital Management LLC now owns 12,554 shares of the solar cell manufacturer’s stock valued at $891,000 after purchasing an additional 4,400 shares during the period. Institutional investors own 53.31% of the company’s stock.

FSLR has been the topic of several analyst reports. Vetr upgraded shares of First Solar from a “sell” rating to a “hold” rating and set a $65.52 price target on the stock in a research note on Tuesday, January 30th. JMP Securities raised their price objective on shares of First Solar to $84.00 and gave the company an “outperform” rating in a research note on Thursday, February 1st. ValuEngine upgraded shares of First Solar from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. BidaskClub lowered shares of First Solar from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd. Finally, Zacks Investment Research lowered shares of First Solar from a “buy” rating to a “hold” rating in a research note on Tuesday, February 6th. Two research analysts have rated the stock with a sell rating, six have given a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $74.47.

In related news, insider Georges Antoun sold 1,220 shares of the firm’s stock in a transaction that occurred on Wednesday, March 7th. The shares were sold at an average price of $68.25, for a total transaction of $83,265.00. Following the completion of the sale, the insider now directly owns 86,012 shares in the company, valued at $5,870,319. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Mark R. Widmar sold 20,574 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $63.90, for a total transaction of $1,314,678.60. Following the sale, the chief executive officer now owns 78,634 shares of the company’s stock, valued at $5,024,712.60. The disclosure for this sale can be found here. Insiders have sold 52,188 shares of company stock valued at $3,552,360 over the last 90 days. 0.54% of the stock is currently owned by insiders.

Shares of NASDAQ:FSLR opened at $68.25 on Friday. The company has a market cap of $7.16 billion, a P/E ratio of 21.91, a price-to-earnings-growth ratio of 2.69 and a beta of 1.84. First Solar, Inc. has a 1-year low of $35.33 and a 1-year high of $81.72. The company has a quick ratio of 6.49, a current ratio of 6.81 and a debt-to-equity ratio of 0.08.

First Solar (NASDAQ:FSLR) last issued its earnings results on Thursday, April 26th. The solar cell manufacturer reported $0.78 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.08) by $0.86. The firm had revenue of $567.00 million during the quarter, compared to analysts’ expectations of $421.47 million. First Solar had a negative net margin of 3.51% and a positive return on equity of 6.26%. The firm’s revenue for the quarter was down 36.4% compared to the same quarter last year. During the same period last year, the firm posted $0.25 earnings per share. sell-side analysts anticipate that First Solar, Inc. will post 1.77 EPS for the current year.

About First Solar

First Solar, Inc provides photovoltaic solar energy solutions in the United States and internationally. It operates through two segments, Components and Systems. The Components segment designs, manufactures, and sells cadmium telluride solar modules that convert sunlight into electricity. This segment offers its products to integrators and operators.

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Institutional Ownership by Quarter for First Solar (NASDAQ:FSLR)

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