First Solar, Inc. (NASDAQ:FSLR) Shares Sold by Southpoint Capital Advisors LP

Southpoint Capital Advisors LP reduced its holdings in First Solar, Inc. (NASDAQ:FSLR) by 25.0% in the 4th quarter, HoldingsChannel.com reports. The firm owned 300,000 shares of the solar cell manufacturer’s stock after selling 100,000 shares during the quarter. Southpoint Capital Advisors LP’s holdings in First Solar were worth $52,872,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in FSLR. Twinbeech Capital LP acquired a new position in shares of First Solar during the 4th quarter valued at about $1,373,000. Tairen Capital Ltd grew its holdings in First Solar by 150.0% in the fourth quarter. Tairen Capital Ltd now owns 25,000 shares of the solar cell manufacturer’s stock valued at $4,406,000 after purchasing an additional 15,000 shares during the period. Siemens Fonds Invest GmbH increased its position in First Solar by 147.9% during the fourth quarter. Siemens Fonds Invest GmbH now owns 2,749 shares of the solar cell manufacturer’s stock worth $484,000 after purchasing an additional 1,640 shares during the last quarter. Shell Asset Management Co. raised its stake in First Solar by 22.7% during the fourth quarter. Shell Asset Management Co. now owns 3,333 shares of the solar cell manufacturer’s stock worth $587,000 after purchasing an additional 617 shares during the period. Finally, SIR Capital Management L.P. acquired a new position in shares of First Solar in the 4th quarter valued at $4,811,000. 92.08% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on FSLR shares. Piper Sandler lowered their price objective on shares of First Solar from $230.00 to $205.00 and set an “overweight” rating for the company in a research note on Monday, April 21st. Guggenheim lowered their price objective on shares of First Solar from $253.00 to $202.00 and set a “buy” rating for the company in a research note on Thursday, May 1st. Redburn Atlantic started coverage on shares of First Solar in a research note on Monday, March 3rd. They set a “neutral” rating for the company. 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, StockNews.com cut shares of First Solar from a “hold” rating to a “sell” rating in a research note on Friday, May 2nd. Two analysts have rated the stock with a sell rating, five have given a hold rating, twenty-four have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, First Solar currently has a consensus rating of “Moderate Buy” and a consensus target price of $224.48.

Insider Activity

In other news, CTO Markus Gloeckler sold 380 shares of the company’s stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $133.75, for a total value of $50,825.00. Following the sale, the chief technology officer now owns 17,594 shares in the company, valued at approximately $2,353,197.50. This represents a 2.11% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Mark R. Widmar sold 21,542 shares of the stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $141.09, for a total transaction of $3,039,360.78. Following the sale, the chief executive officer now owns 103,403 shares in the company, valued at approximately $14,589,129.27. This trade represents a 17.24% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 34,311 shares of company stock worth $4,767,158. 0.48% of the stock is currently owned by corporate insiders.

First Solar Stock Performance

NASDAQ:FSLR opened at $178.46 on Monday. The stock has a market cap of $19.14 billion, a P/E ratio of 15.37, a PEG ratio of 0.19 and a beta of 1.46. The firm has a 50-day moving average of $134.97 and a two-hundred day moving average of $162.92. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.14 and a quick ratio of 1.44. First Solar, Inc. has a 1-year low of $116.56 and a 1-year high of $306.77.

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 analysts’ consensus estimates of $2.50 by ($0.55). The company had revenue of $844.57 million during the quarter, compared to analyst estimates of $863.11 million. First Solar had a net margin of 32.41% and a return on equity of 17.56%. The business’s revenue for the quarter was up 6.4% compared to the same quarter last year. During the same quarter last year, the company posted $2.20 EPS. On average, research analysts expect that First Solar, Inc. will post 13.05 earnings per share for the current fiscal 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.