Atlas Capital Advisors Inc. Cuts Position in First Solar, Inc. (NASDAQ:FSLR)

Atlas Capital Advisors Inc. decreased its stake in shares of First Solar, Inc. (NASDAQ:FSLR - Free Report) by 79.8% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 527 shares of the solar cell manufacturer's stock after selling 2,085 shares during the quarter. Atlas Capital Advisors Inc.'s holdings in First Solar were worth $93,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of FSLR. Vanguard Group Inc. boosted its holdings in First Solar by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 12,821,701 shares of the solar cell manufacturer's stock worth $2,259,697,000 after acquiring an additional 120,289 shares in the last quarter. State Street Corp lifted its holdings in shares of First Solar by 2.2% in the 3rd quarter. State Street Corp now owns 4,956,633 shares of the solar cell manufacturer's stock worth $1,236,383,000 after purchasing an additional 108,984 shares in the last quarter. Geode Capital Management LLC grew its position in First Solar by 2.4% in the 4th quarter. Geode Capital Management LLC now owns 2,666,242 shares of the solar cell manufacturer's stock valued at $469,154,000 after purchasing an additional 63,739 shares during the period. Wellington Management Group LLP increased its stake in First Solar by 12.5% during the 4th quarter. Wellington Management Group LLP now owns 2,359,846 shares of the solar cell manufacturer's stock valued at $415,899,000 after purchasing an additional 262,482 shares in the last quarter. Finally, Amundi raised its holdings in First Solar by 31.0% during the fourth quarter. Amundi now owns 1,805,244 shares of the solar cell manufacturer's stock worth $336,871,000 after buying an additional 426,797 shares during the last quarter. Institutional investors own 92.08% of the company's stock.

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Insider Buying and Selling at First Solar

In other news, CEO Mark R. Widmar sold 21,542 shares of the firm'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 value of $3,039,360.78. Following the completion of the transaction, the chief executive officer now directly owns 103,403 shares in the company, valued at approximately $14,589,129.27. This trade represents 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 company's stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $132.96, for a total transaction of $55,710.24. Following the sale, the insider now directly owns 4,695 shares in the company, valued at $624,247.20. This trade represents a 8.19 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 34,311 shares of company stock valued at $4,767,158 in the last quarter. 0.58% of the stock is currently owned by corporate insiders.

First Solar Stock Performance

Shares of FSLR stock traded up $3.74 during trading on Friday, reaching $125.93. 2,689,100 shares of the company's stock traded hands, compared to its average volume of 2,733,280. First Solar, Inc. has a 1 year low of $116.56 and a 1 year high of $306.77. The company has a market capitalization of $13.48 billion, a P/E ratio of 10.85, a PEG ratio of 0.19 and a beta of 1.48. The company has a current ratio of 2.14, a quick ratio of 1.44 and a debt-to-equity ratio of 0.05. The firm's 50-day moving average is $139.83 and its 200 day moving average is $176.18.

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

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on FSLR. Roth Mkm restated a "buy" rating and issued a $280.00 target price on shares of First Solar in a report on Wednesday, February 26th. UBS Group dropped their target price on First Solar from $360.00 to $285.00 and set a "buy" rating on the stock in a report 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 report on Wednesday, February 26th. Truist Financial reiterated a "buy" rating and issued a $245.00 target price (down previously from $285.00) on shares of First Solar in a research note on Wednesday, April 2nd. Finally, Piper Sandler dropped their price target on shares of First Solar from $250.00 to $230.00 and set an "overweight" rating on the stock in a research report on Wednesday, February 26th. Four 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.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $256.08.

First Solar Company 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.