Captrust Financial Advisors Sells 1,186 Shares of First Solar, Inc. (NASDAQ:FSLR)

Captrust Financial Advisors lowered its stake in shares of First Solar, Inc. (NASDAQ:FSLR) by 3.9% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 29,115 shares of the solar cell manufacturer’s stock after selling 1,186 shares during the quarter. Captrust Financial Advisors’ holdings in First Solar were worth $5,131,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of FSLR. Whalen Wealth Management Inc. boosted its holdings in First Solar by 47.0% during the 4th quarter. Whalen Wealth Management Inc. now owns 4,859 shares of the solar cell manufacturer’s stock valued at $856,000 after acquiring an additional 1,554 shares during the period. Allspring Global Investments Holdings LLC boosted its stake in shares of First Solar by 665.8% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 39,192 shares of the solar cell manufacturer’s stock valued at $7,308,000 after purchasing an additional 34,074 shares during the period. Paragon Capital Management Inc. purchased a new position in First Solar in the 4th quarter worth about $1,240,000. Robeco Institutional Asset Management B.V. lifted its holdings in First Solar by 9.0% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 595,267 shares of the solar cell manufacturer’s stock valued at $104,910,000 after buying an additional 49,074 shares in the last quarter. Finally, Golden State Equity Partners lifted its holdings in First Solar by 41,342.9% during the 4th quarter. Golden State Equity Partners now owns 2,901 shares of the solar cell manufacturer’s stock valued at $511,000 after buying an additional 2,894 shares in the last quarter. Hedge funds and other institutional investors own 92.08% of the company’s stock.

First Solar Price Performance

Shares of NASDAQ:FSLR opened at $140.74 on Friday. 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 twelve month low of $116.56 and a twelve month high of $306.77. The company’s 50 day moving average is $130.33 and its 200 day moving average is $163.97. The company has a market cap of $15.09 billion, a PE ratio of 12.12, a price-to-earnings-growth ratio of 0.19 and a beta of 1.46.

First Solar (NASDAQ:FSLR) last issued its earnings results on Tuesday, April 29th. The solar cell manufacturer reported $1.95 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.50 by ($0.55). The business had revenue of $844.57 million for the quarter, compared to analysts’ expectations of $863.11 million. First Solar had a return on equity of 17.56% and a net margin of 32.41%. The company’s revenue for the quarter was up 6.4% on a year-over-year basis. During the same period last year, the business earned $2.20 EPS. On average, sell-side analysts forecast that First Solar, Inc. will post 13.05 EPS for the current year.

Insider Buying and Selling

In related news, insider Kuntal Kumar Verma sold 419 shares of the firm’s stock in a transaction on Friday, March 7th. The shares were sold at an average price of $132.96, for a total transaction of $55,710.24. Following the sale, the insider now owns 4,695 shares in the company, valued at approximately $624,247.20. This trade represents a 8.19 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Mark R. Widmar sold 1,966 shares of First Solar stock in a transaction on Monday, March 17th. The shares were sold at an average price of $133.75, for a total transaction of $262,952.50. Following the completion of the transaction, the chief executive officer now directly owns 111,890 shares of the company’s stock, valued at $14,965,287.50. The trade was 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 valued at $4,767,158 over the last ninety days. Company insiders own 0.48% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Glj Research upgraded shares of First Solar from a “hold” rating to a “buy” rating and set a $172.37 target price on the stock in a research note on Thursday, May 1st. Jefferies Financial Group lowered First Solar from a “buy” rating to a “hold” rating and decreased their target price for the company from $202.00 to $127.00 in a research report on Wednesday, April 30th. Robert W. Baird dropped their price target on First Solar from $267.00 to $240.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 15th. JPMorgan Chase & Co. lowered their price objective on shares of First Solar from $282.00 to $268.00 and set an “overweight” rating for the company in a research note on Wednesday, February 26th. Finally, UBS Group cut their target price on shares of First Solar from $240.00 to $235.00 and set a “buy” rating on the stock in a research report on Wednesday, April 30th. Two research analysts have rated the stock with a sell rating, five have given a hold rating, twenty-three have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $223.87.

First Solar Company 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.