First Solar, Inc. $FSLR Shares Sold by Sierra Summit Advisors LLC

Sierra Summit Advisors LLC lowered its stake in First Solar, Inc. (NASDAQ:FSLR) by 8.3% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 59,188 shares of the solar cell manufacturer’s stock after selling 5,337 shares during the quarter. First Solar accounts for about 2.4% of Sierra Summit Advisors LLC’s portfolio, making the stock its 11th biggest holding. Sierra Summit Advisors LLC’s holdings in First Solar were worth $15,462,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Linden Thomas Advisory Services LLC grew its stake in First Solar by 1.7% in the 3rd quarter. Linden Thomas Advisory Services LLC now owns 2,287 shares of the solar cell manufacturer’s stock valued at $504,000 after acquiring an additional 39 shares during the period. Apollon Wealth Management LLC grew its stake in First Solar by 1.2% in the 4th quarter. Apollon Wealth Management LLC now owns 3,606 shares of the solar cell manufacturer’s stock valued at $942,000 after acquiring an additional 44 shares during the period. Burford Brothers Inc. grew its stake in First Solar by 0.3% in the 4th quarter. Burford Brothers Inc. now owns 19,080 shares of the solar cell manufacturer’s stock valued at $4,984,000 after acquiring an additional 48 shares during the period. Cromwell Holdings LLC grew its stake in First Solar by 15.8% in the 4th quarter. Cromwell Holdings LLC now owns 367 shares of the solar cell manufacturer’s stock valued at $96,000 after acquiring an additional 50 shares during the period. Finally, Rathbones Group PLC grew its stake in First Solar by 1.0% in the 3rd quarter. Rathbones Group PLC now owns 4,930 shares of the solar cell manufacturer’s stock valued at $1,087,000 after acquiring an additional 51 shares during the period. Institutional investors and hedge funds own 92.08% of the company’s stock.

Insider Buying and Selling at First Solar

In other news, CTO Markus Gloeckler sold 3,640 shares of First Solar stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $196.95, for a total transaction of $716,898.00. Following the transaction, the chief technology officer owned 8,037 shares in the company, valued at $1,582,887.15. The trade was a 31.17% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Kuntal Kumar Verma sold 3,426 shares of First Solar stock in a transaction on Tuesday, March 3rd. The stock was sold at an average price of $195.93, for a total value of $671,256.18. Following the transaction, the insider owned 8,334 shares in the company, valued at approximately $1,632,880.62. This represents a 29.13% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 92,430 shares of company stock worth $18,670,055. Corporate insiders own 0.39% of the company’s stock.

First Solar Stock Up 7.3%

NASDAQ FSLR opened at $237.86 on Thursday. First Solar, Inc. has a 52 week low of $135.50 and a 52 week high of $285.99. The company has a quick ratio of 2.15, a current ratio of 2.56 and a debt-to-equity ratio of 0.02. The business’s fifty day simple moving average is $202.87 and its 200-day simple moving average is $231.14. The firm has a market cap of $25.56 billion, a PE ratio of 15.37, a P/E/G ratio of 0.49 and a beta of 1.57.

First Solar (NASDAQ:FSLR) last posted its quarterly earnings results on Thursday, April 30th. The solar cell manufacturer reported $3.22 EPS for the quarter, topping the consensus estimate of $2.87 by $0.35. First Solar had a return on equity of 18.01% and a net margin of 30.73%.The business had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.03 billion. During the same quarter in the previous year, the firm earned $1.95 EPS. The company’s quarterly revenue was up 23.6% compared to the same quarter last year. As a group, equities analysts anticipate that First Solar, Inc. will post 17.64 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on FSLR shares. Citigroup decreased their price objective on First Solar from $300.00 to $243.00 and set a “buy” rating on the stock in a report on Tuesday, April 21st. TD Cowen decreased their price objective on First Solar from $320.00 to $253.00 and set a “buy” rating on the stock in a report on Wednesday, February 25th. Argus raised their price objective on First Solar from $250.00 to $275.00 and gave the company a “buy” rating in a report on Wednesday, May 13th. Evercore raised their price objective on First Solar from $212.00 to $219.00 in a report on Monday, May 4th. Finally, Bank of America decreased their price objective on First Solar from $291.00 to $271.00 and set a “buy” rating on the stock in a report on Thursday, January 22nd. One research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, twelve have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, First Solar currently has an average rating of “Moderate Buy” and a consensus target price of $247.03.

About First Solar

First Solar, Inc (NASDAQ: FSLR) is a United States–based solar technology company best known for designing and manufacturing thin?film photovoltaic (PV) modules that use cadmium telluride (CdTe) semiconductor technology. The company supplies PV modules and delivers integrated solar power solutions for utility?scale projects, positioning itself as a provider of both components and complete solar energy systems rather than solely a parts supplier. First Solar was founded in 1999 and is headquartered in Tempe, Arizona.

Beyond module manufacturing, First Solar offers a range of project services including development support, engineering, procurement and construction (EPC) services, and operations and maintenance (O&M) for large-scale solar installations.