American Century Companies Inc. Decreases Stake in First Solar, Inc. (NASDAQ:FSLR)

American Century Companies Inc. trimmed its holdings in First Solar, Inc. (NASDAQ:FSLR - Free Report) by 9.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 89,021 shares of the solar cell manufacturer's stock after selling 9,620 shares during the period. American Century Companies Inc. owned about 0.08% of First Solar worth $15,689,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the business. Smartleaf Asset Management LLC increased its position in First Solar by 31.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 262 shares of the solar cell manufacturer's stock valued at $47,000 after acquiring an additional 63 shares during the last quarter. Crews Bank & Trust purchased a new position in First Solar during the 4th quarter worth $53,000. Hudson Edge Investment Partners Inc. bought a new position in shares of First Solar during the 4th quarter worth $53,000. Financial Avengers Inc. bought a new stake in shares of First Solar in the third quarter valued at about $77,000. Finally, Montag A & Associates Inc. increased its position in First Solar by 18.8% during the 4th quarter. Montag A & Associates Inc. now owns 475 shares of the solar cell manufacturer's stock valued at $84,000 after purchasing an additional 75 shares during the period. Institutional investors own 92.08% of the company's stock.

Insider Activity

In related news, insider Georges Antoun sold 229 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 $30,628.75. Following the transaction, the insider now owns 52,836 shares of the company's stock, valued at $7,066,815. This represents a 0.43 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 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 value of $80,116.25. Following the completion of the transaction, the chief financial officer now owns 45,717 shares in the company, 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 worth $4,767,158. Corporate insiders own 0.58% of the company's stock.

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First Solar Trading Down 5.5 %

NASDAQ FSLR traded down $7.54 during trading on Friday, hitting $128.69. The stock had a trading volume of 4,687,136 shares, compared to its average volume of 2,686,483. The company has a market capitalization of $13.78 billion, a PE ratio of 11.08, a PEG ratio of 0.19 and a beta of 1.52. First Solar, Inc. has a twelve month low of $120.60 and a twelve month 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. The firm has a 50 day moving average price of $145.44 and a 200 day moving average price of $181.88.

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

Wall Street Analysts Forecast Growth

FSLR has been the topic of a number of recent research reports. Wells Fargo & Company dropped their price objective on First Solar from $240.00 to $209.00 and set an "overweight" rating on the stock in a research report on Wednesday, January 8th. Piper Sandler reduced their price objective on shares of First Solar from $250.00 to $230.00 and set an "overweight" rating for the company in a research note on Wednesday, February 26th. Bank of America lowered their target price on shares of First Solar from $246.00 to $236.00 and set a "buy" rating for the company in a research note on Tuesday, January 28th. UBS Group lowered their price objective on First Solar from $360.00 to $285.00 and set a "buy" rating for the company in a research report on Wednesday, February 26th. Finally, BMO Capital Markets reaffirmed 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. Four research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $260.42.

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.