Fmr LLC Sells 2,227,201 Shares of First Solar, Inc. (NASDAQ:FSLR)

Fmr LLC decreased its holdings in shares of First Solar, Inc. (NASDAQ:FSLR) by 55.9% in the fourth quarter, Holdings Channel.com reports. The firm owned 1,760,550 shares of the solar cell manufacturer’s stock after selling 2,227,201 shares during the period. Fmr LLC’s holdings in First Solar were worth $310,279,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. Whalen Wealth Management Inc. boosted its holdings in First Solar by 47.0% in the fourth quarter. Whalen Wealth Management Inc. now owns 4,859 shares of the solar cell manufacturer’s stock worth $856,000 after acquiring an additional 1,554 shares in the last quarter. Allspring Global Investments Holdings LLC raised its position in shares of First Solar by 665.8% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 39,192 shares of the solar cell manufacturer’s stock worth $7,308,000 after purchasing an additional 34,074 shares during the last quarter. Stifel Financial Corp boosted its stake in First Solar by 36.9% in the 3rd quarter. Stifel Financial Corp now owns 21,446 shares of the solar cell manufacturer’s stock worth $5,350,000 after purchasing an additional 5,780 shares in the last quarter. Paragon Capital Management Inc. bought a new stake in First Solar during the 4th quarter valued at about $1,240,000. Finally, Robeco Institutional Asset Management B.V. raised its holdings in First Solar by 9.0% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 595,267 shares of the solar cell manufacturer’s stock worth $104,910,000 after buying an additional 49,074 shares during the last quarter. 92.08% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently commented on FSLR. Wells Fargo & Company cut their price target on shares of First Solar from $240.00 to $209.00 and set an “overweight” rating on the stock in a report on Wednesday, January 8th. Bank of America reduced their target price on First Solar from $236.00 to $215.00 and set a “buy” rating for the company in a report on Tuesday. Seaport Res Ptn raised First Solar from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, January 15th. Morgan Stanley decreased their target price on First Solar from $297.00 to $238.00 and set an “overweight” rating for the company in a research report on Thursday, February 27th. Finally, Deutsche Bank Aktiengesellschaft set a $265.00 price target on shares of First Solar in a report on Thursday, February 27th. Four analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $257.42.

Insider Transactions at First Solar

In other First Solar news, CEO Mark R. Widmar sold 21,542 shares of First Solar stock in a transaction on Friday, February 28th. The shares were sold at an average price of $141.09, for a total value of $3,039,360.78. Following the completion of the transaction, the chief executive officer now directly owns 103,403 shares of the company’s stock, valued at $14,589,129.27. This trade represents a 17.24 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Alexander R. Bradley sold 599 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 transaction of $80,116.25. Following the completion of the transaction, the chief financial officer now directly owns 45,717 shares of the company’s stock, valued at approximately $6,114,648.75. The trade was a 1.29 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 34,311 shares of company stock valued at $4,767,158. 0.58% of the stock is currently owned by insiders.

First Solar Trading Down 5.7 %

FSLR stock opened at $122.19 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. First Solar, Inc. has a 1-year low of $116.56 and a 1-year high of $306.77. The business has a 50 day simple moving average of $140.63 and a two-hundred day simple moving average of $176.99. The company has a market capitalization of $13.08 billion, a price-to-earnings ratio of 10.52, a PEG ratio of 0.19 and a beta of 1.48.

First Solar (NASDAQ:FSLR) last issued its earnings results on Tuesday, February 25th. The solar cell manufacturer reported $3.65 earnings per share for the quarter, missing analysts’ consensus estimates of $4.81 by ($1.16). The company had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.48 billion. First Solar had a return on equity of 17.56% and a net margin of 32.41%. Research analysts anticipate that First Solar, Inc. will post 13.05 EPS 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.