First Solar, Inc. (NASDAQ:FSLR) Holdings Reduced by Amalgamated Bank

Amalgamated Bank reduced its holdings in First Solar, Inc. (NASDAQ:FSLR) by 13.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 26,017 shares of the solar cell manufacturer’s stock after selling 3,878 shares during the quarter. Amalgamated Bank’s holdings in First Solar were worth $4,482,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in FSLR. Baystate Wealth Management LLC acquired a new stake in First Solar during the 4th quarter valued at $29,000. Estabrook Capital Management purchased a new stake in First Solar in the 3rd quarter worth about $29,000. Headinvest LLC purchased a new position in First Solar during the 3rd quarter valued at about $30,000. Rakuten Securities Inc. acquired a new position in shares of First Solar in the 4th quarter valued at about $34,000. Finally, USCF Advisers LLC lifted its position in First Solar by 100.0% in the 4th quarter. USCF Advisers LLC now owns 200 shares of the solar cell manufacturer’s stock worth $34,000 after buying an additional 100 shares in the last quarter. Institutional investors and hedge funds own 92.08% of the company’s stock.

Insider Activity at First Solar

In other news, insider Kuntal Kumar Verma sold 250 shares of the stock in a transaction on Monday, March 18th. The shares were sold at an average price of $148.34, for a total value of $37,085.00. Following the completion of the transaction, the insider now owns 5,170 shares in the company, valued at approximately $766,917.80. The sale was disclosed in a filing with the SEC, which is available at this link. In related news, Director R Craig Kennedy sold 2,000 shares of the business’s stock in a transaction on Monday, May 6th. The stock was sold at an average price of $196.73, for a total value of $393,460.00. Following the sale, the director now owns 13,908 shares of the company’s stock, valued at approximately $2,736,120.84. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Kuntal Kumar Verma sold 250 shares of the company’s stock in a transaction on Monday, March 18th. The shares were sold at an average price of $148.34, for a total value of $37,085.00. Following the completion of the sale, the insider now owns 5,170 shares in the company, valued at $766,917.80. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 28,620 shares of company stock worth $4,663,000. 0.58% of the stock is owned by corporate insiders.

First Solar Stock Performance

NASDAQ FSLR opened at $194.67 on Wednesday. The company’s fifty day moving average is $168.55 and its two-hundred day moving average is $158.92. The firm has a market capitalization of $20.84 billion, a price-to-earnings ratio of 20.41, a P/E/G ratio of 0.33 and a beta of 1.37. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.41 and a quick ratio of 1.86. First Solar, Inc. has a 52-week low of $129.21 and a 52-week high of $232.00.

First Solar (NASDAQ:FSLR) last issued its quarterly earnings results on Wednesday, May 1st. The solar cell manufacturer reported $2.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.90 by $0.30. First Solar had a return on equity of 16.24% and a net margin of 28.75%. The firm had revenue of $794.10 million for the quarter, compared to analyst estimates of $718.19 million. During the same period in the previous year, the company posted $0.40 earnings per share. The company’s quarterly revenue was up 44.8% compared to the same quarter last year. Equities research analysts forecast that First Solar, Inc. will post 13.55 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on FSLR. UBS Group boosted their price target on shares of First Solar from $250.00 to $252.00 and gave the company a “buy” rating in a report on Thursday, May 2nd. Roth Mkm reaffirmed a “buy” rating and set a $230.00 price target on shares of First Solar in a research note on Thursday, April 18th. Bank of America boosted their price target on First Solar from $187.00 to $194.00 and gave the company a “buy” rating in a research note on Wednesday, April 10th. Janney Montgomery Scott began coverage on shares of First Solar in a research report on Friday, April 12th. They set a “buy” rating and a $236.00 price objective on the stock. Finally, Wells Fargo & Company upgraded shares of First Solar from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $187.00 to $250.00 in a research note on Friday, April 19th. Three investment analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $238.16.

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.