First Solar, Inc. (NASDAQ:FSLR) Stock Position Lowered by Cetera Investment Advisers

Cetera Investment Advisers lessened its position in First Solar, Inc. (NASDAQ:FSLR) by 26.4% during the fourth quarter, Holdings Channel reports. The institutional investor owned 22,927 shares of the solar cell manufacturer’s stock after selling 8,228 shares during the quarter. Cetera Investment Advisers’ holdings in First Solar were worth $4,041,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of FSLR. Wealth Enhancement Advisory Services LLC raised its stake in shares of First Solar by 20.2% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 7,104 shares of the solar cell manufacturer’s stock worth $1,252,000 after buying an additional 1,192 shares in the last quarter. Czech National Bank raised its stake in shares of First Solar by 6.4% in the 4th quarter. Czech National Bank now owns 23,213 shares of the solar cell manufacturer’s stock worth $4,091,000 after buying an additional 1,401 shares in the last quarter. Assenagon Asset Management S.A. raised its stake in shares of First Solar by 340.8% in the 4th quarter. Assenagon Asset Management S.A. now owns 206,743 shares of the solar cell manufacturer’s stock worth $36,436,000 after buying an additional 159,845 shares in the last quarter. Mirador Capital Partners LP raised its stake in shares of First Solar by 34.6% in the 4th quarter. Mirador Capital Partners LP now owns 2,275 shares of the solar cell manufacturer’s stock worth $401,000 after buying an additional 585 shares in the last quarter. Finally, Beech Hill Advisors Inc. raised its stake in shares of First Solar by 2.6% in the 4th quarter. Beech Hill Advisors Inc. now owns 27,123 shares of the solar cell manufacturer’s stock worth $4,780,000 after buying an additional 683 shares in the last quarter. Institutional investors own 92.08% of the company’s stock.

First Solar Trading Down 3.5%

First Solar stock opened at $186.18 on Friday. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.14 and a quick ratio of 1.44. The company has a market capitalization of $19.97 billion, a price-to-earnings ratio of 16.04, a PEG ratio of 0.19 and a beta of 1.46. First Solar, Inc. has a one year low of $116.56 and a one year high of $306.77. The company’s fifty day moving average price is $134.18 and its two-hundred day moving average price is $163.52.

First Solar (NASDAQ:FSLR) last released its quarterly 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). First Solar had a net margin of 32.41% and a return on equity of 17.56%. The firm had revenue of $844.57 million for the quarter, compared to the consensus estimate of $863.11 million. During the same quarter last year, the company earned $2.20 earnings per share. The firm’s revenue was up 6.4% on a year-over-year basis. On average, analysts forecast that First Solar, Inc. will post 13.05 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on FSLR shares. Redburn Atlantic started coverage on First Solar in a research report on Monday, March 3rd. They set a “neutral” rating for the company. Roth Mkm reiterated a “buy” rating and set a $280.00 price objective on shares of First Solar in a research report on Wednesday, February 26th. Oppenheimer downgraded First Solar from an “outperform” rating to a “market perform” rating in a research report on Wednesday, April 30th. BMO Capital Markets cut their price objective on First Solar from $200.00 to $187.00 and set an “outperform” rating for the company in a research report on Wednesday, April 30th. Finally, Barclays cut their price objective on First Solar from $236.00 to $204.00 and set an “overweight” rating for the company in a research report on Friday, April 11th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating, twenty-four have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, First Solar presently has an average rating of “Moderate Buy” and a consensus target price of $224.48.

Insider Activity at First Solar

In related news, CEO Mark R. Widmar sold 1,966 shares of the stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $133.75, for a total value of $262,952.50. Following the completion of the transaction, the chief executive officer now owns 111,890 shares of the company’s stock, valued at $14,965,287.50. This represents a 1.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Georges Antoun sold 229 shares of the stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $133.75, for a total transaction of $30,628.75. Following the completion of the transaction, the insider now directly owns 52,836 shares of the company’s stock, valued at $7,066,815. This trade represents a 0.43% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 34,311 shares of company stock worth $4,767,158. Company insiders own 0.48% of the company’s stock.

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.