Aviva PLC Has $10.87 Million Stake in First Solar, Inc. (NASDAQ:FSLR)

Aviva PLC reduced its stake in First Solar, Inc. (NASDAQ:FSLR - Free Report) by 48.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 61,694 shares of the solar cell manufacturer's stock after selling 58,553 shares during the period. Aviva PLC owned 0.06% of First Solar worth $10,873,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in FSLR. Hel Ved Capital Management Ltd bought a new position in shares of First Solar during the 4th quarter valued at about $2,194,000. Resona Asset Management Co. Ltd. acquired a new position in First Solar in the fourth quarter worth approximately $5,458,000. Motley Fool Asset Management LLC lifted its position in shares of First Solar by 7.4% during the 4th quarter. Motley Fool Asset Management LLC now owns 1,576 shares of the solar cell manufacturer's stock valued at $278,000 after acquiring an additional 108 shares during the last quarter. World Investment Advisors bought a new stake in shares of First Solar during the 4th quarter worth $292,000. Finally, Westpac Banking Corp grew its holdings in shares of First Solar by 8.9% in the 4th quarter. Westpac Banking Corp now owns 917 shares of the solar cell manufacturer's stock worth $162,000 after acquiring an additional 75 shares during the last quarter. Institutional investors and hedge funds own 92.08% of the company's stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on FSLR shares. Redburn Atlantic initiated coverage on First Solar in a research report on Monday, March 3rd. They issued a "neutral" rating for the company. Seaport Res Ptn raised shares of First Solar from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, January 15th. JPMorgan Chase & Co. reduced their price target on shares of First Solar from $282.00 to $268.00 and set an "overweight" rating for the company in a research report on Wednesday, February 26th. Guggenheim lowered their price objective on shares of First Solar from $304.00 to $253.00 and set a "buy" rating on the stock in a research report on Monday, April 7th. Finally, Morgan Stanley reduced their target price on First Solar from $297.00 to $238.00 and set an "overweight" rating for the company in a report on Thursday, February 27th. Four equities research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $256.08.

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First Solar Stock Performance

First Solar stock traded up $4.85 during mid-day trading on Monday, reaching $130.78. The company had a trading volume of 600,317 shares, compared to its average volume of 2,728,606. The company has a 50 day moving average of $139.83 and a 200-day moving average of $175.63. First Solar, Inc. has a 52 week low of $116.56 and a 52 week 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 market cap of $14.00 billion, a price-to-earnings ratio of 11.26, a PEG ratio of 0.19 and a beta of 1.48.

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

Insider Activity

In related news, CTO Markus Gloeckler sold 380 shares of the business's stock in a transaction on Monday, March 17th. The stock was sold at an average price of $133.75, for a total value of $50,825.00. Following the sale, the chief technology officer now owns 17,594 shares of the company's stock, valued at $2,353,197.50. The trade was a 2.11 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Mark R. Widmar sold 21,542 shares of the stock in a transaction on Friday, February 28th. The stock was sold at an average price of $141.09, for a total value of $3,039,360.78. Following the transaction, the chief executive officer now owns 103,403 shares of the company's stock, valued at $14,589,129.27. This represents a 17.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 34,311 shares of company stock worth $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.