Sumitomo Mitsui DS Asset Management Company Ltd Lowers Holdings in First Solar, Inc. (NASDAQ:FSLR)

Sumitomo Mitsui DS Asset Management Company Ltd trimmed its holdings in First Solar, Inc. (NASDAQ:FSLR) by 1.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 8,453 shares of the solar cell manufacturer’s stock after selling 103 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in First Solar were worth $1,456,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in First Solar by 4.0% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 548,058 shares of the solar cell manufacturer’s stock valued at $94,419,000 after purchasing an additional 20,946 shares during the last quarter. Assenagon Asset Management S.A. boosted its stake in shares of First Solar by 504.1% during the 4th quarter. Assenagon Asset Management S.A. now owns 399,650 shares of the solar cell manufacturer’s stock worth $68,852,000 after acquiring an additional 333,496 shares in the last quarter. Sora Investors LLC boosted its stake in shares of First Solar by 63.6% during the 3rd quarter. Sora Investors LLC now owns 90,000 shares of the solar cell manufacturer’s stock worth $14,543,000 after acquiring an additional 35,000 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of First Solar by 2.4% during the 3rd quarter. Vanguard Group Inc. now owns 12,040,031 shares of the solar cell manufacturer’s stock worth $1,945,549,000 after acquiring an additional 279,424 shares in the last quarter. Finally, Bull Oak Capital LLC boosted its stake in shares of First Solar by 304,592.2% during the 4th quarter. Bull Oak Capital LLC now owns 155,393 shares of the solar cell manufacturer’s stock worth $26,771,000 after acquiring an additional 155,342 shares in the last quarter. 92.08% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on FSLR. Bank of America increased their target price on shares of First Solar from $187.00 to $194.00 and gave the stock a “buy” rating in a research note on Wednesday, April 10th. Mizuho increased their target price on shares of First Solar from $188.00 to $196.00 and gave the stock a “buy” rating in a research note on Wednesday, January 3rd. Barclays increased their target price on shares of First Solar from $224.00 to $227.00 and gave the stock an “overweight” rating in a research note on Friday, April 19th. Susquehanna reissued a “positive” rating and set a $258.00 target price on shares of First Solar in a research note on Friday, April 5th. Finally, Janney Montgomery Scott started coverage on shares of First Solar in a research report on Friday, April 12th. They set a “buy” rating and a $236.00 price target for the company. Three equities research analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company’s stock. According to MarketBeat.com, First Solar has an average rating of “Moderate Buy” and a consensus target price of $231.36.

Insider Transactions at First Solar

In related news, insider Georges Antoun sold 16,667 shares of the stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $155.55, for a total transaction of $2,592,551.85. Following the completion of the transaction, the insider now owns 42,041 shares of the company’s stock, valued at approximately $6,539,477.55. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other First Solar news, insider Georges Antoun sold 16,667 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $155.55, for a total value of $2,592,551.85. Following the completion of the transaction, the insider now owns 42,041 shares of the company’s stock, valued at approximately $6,539,477.55. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director R Craig Kennedy sold 1,500 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $157.76, for a total transaction of $236,640.00. Following the completion of the transaction, the director now directly owns 15,641 shares of the company’s stock, valued at approximately $2,467,524.16. The disclosure for this sale can be found here. Insiders sold 26,620 shares of company stock worth $4,269,540 in the last 90 days. Insiders own 0.58% of the company’s stock.

First Solar Stock Down 1.5 %

Shares of NASDAQ FSLR opened at $177.48 on Thursday. The company has a 50 day simple moving average of $162.66 and a 200-day simple moving average of $156.83. The company has a market capitalization of $19.00 billion, a P/E ratio of 22.93, a P/E/G ratio of 0.31 and a beta of 1.41. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.55 and a quick ratio of 2.92. First Solar, Inc. has a 1 year low of $129.21 and a 1 year high of $232.00.

First Solar (NASDAQ:FSLR) last announced its quarterly earnings results on Tuesday, February 27th. The solar cell manufacturer reported $3.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.19 by $0.06. The business had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.31 billion. First Solar had a net margin of 25.03% and a return on equity of 13.80%. The business’s revenue was up 15.5% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.07) EPS. On average, equities research analysts predict that First Solar, Inc. will post 13.55 earnings per share for the current 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.