Allstate Corp Takes Position in First Solar, Inc. (NASDAQ:FSLR)

Allstate Corp bought a new stake in shares of First Solar, Inc. (NASDAQ:FSLR - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 2,998 shares of the solar cell manufacturer's stock, valued at approximately $528,000.

Several other large investors also recently modified their holdings of the stock. Pictet Asset Management Holding SA increased its position in First Solar by 14.2% in the fourth quarter. Pictet Asset Management Holding SA now owns 65,554 shares of the solar cell manufacturer's stock worth $11,553,000 after buying an additional 8,162 shares during the last quarter. Nomura Asset Management Co. Ltd. increased its holdings in First Solar by 0.3% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 30,948 shares of the solar cell manufacturer's stock worth $5,454,000 after acquiring an additional 81 shares during the last quarter. Duff & Phelps Investment Management Co. raised its stake in First Solar by 23.5% in the 4th quarter. Duff & Phelps Investment Management Co. now owns 14,384 shares of the solar cell manufacturer's stock valued at $2,535,000 after acquiring an additional 2,734 shares during the period. New Age Alpha Advisors LLC bought a new position in First Solar during the fourth quarter worth about $533,000. Finally, Triodos Investment Management BV grew its position in shares of First Solar by 119.0% during the 4th quarter. Triodos Investment Management BV now owns 208,450 shares of the solar cell manufacturer's stock valued at $36,737,000 after purchasing an additional 113,250 shares in the last quarter. Hedge funds and other institutional investors own 92.08% of the company's stock.

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Analyst Upgrades and Downgrades

FSLR has been the subject of several recent analyst reports. BMO Capital Markets restated an "outperform" rating and set a $230.00 target price (down from $260.00) on shares of First Solar in a research report on Wednesday, February 26th. StockNews.com raised shares of First Solar from a "sell" rating to a "hold" rating in a research note on Thursday, January 2nd. Wells Fargo & Company cut their price target on shares of First Solar from $240.00 to $209.00 and set an "overweight" rating for the company in a research note on Wednesday, January 8th. Roth Mkm reaffirmed a "buy" rating and set a $280.00 price objective on shares of First Solar in a report on Wednesday, February 26th. Finally, Royal Bank of Canada reduced their target price on First Solar from $280.00 to $251.00 and set an "outperform" rating on the stock in a research note on Wednesday, February 26th. Four investment analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, First Solar presently has an average rating of "Moderate Buy" and a consensus price target of $260.42.

First Solar Trading Down 5.5 %

FSLR traded down $7.54 during midday trading on Friday, reaching $128.69. 4,687,136 shares of the company's stock traded hands, compared to its average volume of 2,689,284. First Solar, Inc. has a 52 week low of $120.60 and a 52 week high of $306.77. 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 firm has a fifty day moving average of $146.23 and a two-hundred day moving average of $182.60. The stock has a market capitalization of $13.78 billion, a price-to-earnings ratio of 11.08, a P/E/G ratio of 0.19 and a beta of 1.52.

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

Insider Transactions at First Solar

In related news, insider Kuntal Kumar Verma sold 7,475 shares of First Solar stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $136.60, for a total transaction of $1,021,085.00. Following the sale, the insider now directly owns 3,549 shares in the company, valued at $484,793.40. The trade was a 67.81 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Mark R. Widmar sold 1,966 shares of the stock in a transaction on Monday, March 17th. The stock was 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 approximately $14,965,287.50. This trade represents a 1.73 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 34,311 shares of company stock valued at $4,767,158. Company insiders own 0.58% of the company's stock.

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.