AGF Management Ltd. Sells 8,357 Shares of First Solar, Inc. (NASDAQ:FSLR)

AGF Management Ltd. cut its stake in First Solar, Inc. (NASDAQ:FSLR - Free Report) by 15.0% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 47,438 shares of the solar cell manufacturer's stock after selling 8,357 shares during the period. AGF Management Ltd.'s holdings in First Solar were worth $8,360,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Strengthening Families & Communities LLC bought a new position in First Solar in the 3rd quarter valued at about $25,000. Larson Financial Group LLC grew its stake in shares of First Solar by 214.0% in the third quarter. Larson Financial Group LLC now owns 157 shares of the solar cell manufacturer's stock worth $39,000 after acquiring an additional 107 shares during the last quarter. Smartleaf Asset Management LLC lifted its position in First Solar by 31.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 262 shares of the solar cell manufacturer's stock worth $47,000 after purchasing an additional 63 shares during the period. Crews Bank & Trust bought a new position in shares of First Solar in the fourth quarter valued at about $53,000. Finally, Hudson Edge Investment Partners Inc. acquired a new stake in First Solar in the fourth quarter worth about $53,000. 92.08% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

FSLR has been the topic of several research reports. JPMorgan Chase & Co. cut their target price on First Solar from $282.00 to $268.00 and set an "overweight" rating on the stock in a research note on Wednesday, February 26th. Citigroup decreased their price target on First Solar from $254.00 to $236.00 and set a "neutral" rating for the company in a research note on Wednesday, February 26th. UBS Group decreased their target price on First Solar from $360.00 to $285.00 and set a "buy" rating for the company in a research note on Wednesday, February 26th. Seaport Res Ptn upgraded First Solar from a "hold" rating to a "strong-buy" rating in a report on Wednesday, January 15th. Finally, Guggenheim reduced their price target on First Solar from $335.00 to $304.00 and set a "buy" rating for the company in a research report on Thursday, February 27th. Four investment analysts have rated the stock with a hold rating, twenty-three have given a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, First Solar has a consensus rating of "Moderate Buy" and an average target price of $262.08.

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Insiders Place Their Bets

In other news, CEO Mark R. Widmar sold 21,542 shares of the business's stock in a transaction that occurred on Friday, February 28th. The shares were 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 $14,589,129.27. The trade was a 17.24 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Kuntal Kumar Verma sold 419 shares of the business's stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $132.96, for a total transaction of $55,710.24. Following the transaction, the insider now directly owns 4,695 shares in the company, valued at $624,247.20. The trade was a 8.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 30,739 shares of company stock worth $4,289,403. 0.58% of the stock is owned by corporate insiders.

First Solar Trading Down 2.4 %

Shares of First Solar stock traded down $3.23 during trading hours on Thursday, hitting $132.81. The company's stock had a trading volume of 2,098,816 shares, compared to its average volume of 2,737,247. The business has a fifty day moving average of $164.63 and a 200 day moving average of $192.76. The company has a market capitalization of $14.22 billion, a PE ratio of 11.44, a P/E/G ratio of 0.19 and a beta of 1.52. First Solar, Inc. has a 1-year low of $124.96 and a 1-year high of $306.77. The company has a quick ratio of 1.44, a current ratio of 2.14 and a debt-to-equity ratio of 0.05.

First Solar (NASDAQ:FSLR - Get Free Report) last posted its quarterly earnings results on Tuesday, February 25th. The solar cell manufacturer reported $3.65 EPS for the quarter, missing the consensus estimate of $4.81 by ($1.16). The business had revenue of $1.51 billion during the quarter, compared to analyst estimates of $1.48 billion. First Solar had a net margin of 32.41% and a return on equity of 17.56%. As a group, equities analysts forecast that First Solar, Inc. will post 13.05 EPS for the current year.

First Solar 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.