Capital Research Global Investors Sells 599,611 Shares of First Solar, Inc. (NASDAQ:FSLR)

Capital Research Global Investors lowered its position in shares of First Solar, Inc. (NASDAQ:FSLR - Free Report) by 25.1% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,789,514 shares of the solar cell manufacturer's stock after selling 599,611 shares during the period. Capital Research Global Investors owned approximately 1.67% of First Solar worth $315,396,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Virtu Financial LLC lifted its stake in First Solar by 38.5% in the third quarter. Virtu Financial LLC now owns 8,041 shares of the solar cell manufacturer's stock valued at $2,006,000 after buying an additional 2,235 shares during the last quarter. Morse Asset Management Inc increased its stake in shares of First Solar by 10.7% in the third quarter. Morse Asset Management Inc now owns 12,449 shares of the solar cell manufacturer's stock valued at $3,105,000 after purchasing an additional 1,199 shares during the period. Blankinship & Foster LLC acquired a new position in shares of First Solar during the third quarter worth approximately $935,000. Peapack Gladstone Financial Corp grew its holdings in First Solar by 33.3% in the 3rd quarter. Peapack Gladstone Financial Corp now owns 24,553 shares of the solar cell manufacturer's stock worth $6,125,000 after buying an additional 6,135 shares in the last quarter. Finally, Franklin Resources Inc. increased its position in First Solar by 10.4% in the 3rd quarter. Franklin Resources Inc. now owns 131,634 shares of the solar cell manufacturer's stock valued at $32,835,000 after acquiring an additional 12,439 shares during the period. 92.08% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have recently commented on FSLR shares. StockNews.com raised First Solar from a "sell" rating to a "hold" rating in a report on Thursday, January 2nd. Seaport Res Ptn raised shares of First Solar from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, January 15th. Robert W. Baird dropped their target price on First Solar from $267.00 to $240.00 and set an "outperform" rating on the stock in a report on Tuesday, April 15th. Citigroup cut their price target on shares of First Solar from $254.00 to $236.00 and set a "neutral" rating for the company in a report on Wednesday, February 26th. Finally, UBS Group dropped their target price on shares of First Solar from $285.00 to $240.00 and set a "buy" rating on the stock in a report on Monday, April 14th. Four equities research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, First Solar has a consensus rating of "Moderate Buy" and a consensus price target of $250.58.

Insiders Place Their Bets

In related news, CEO Mark R. Widmar sold 21,542 shares of First Solar stock in a transaction 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 transaction, the chief executive officer now owns 103,403 shares in the company, valued at $14,589,129.27. This trade represents a 17.24 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Georges Antoun sold 229 shares of the firm's stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $133.75, for a total value of $30,628.75. Following the completion of the sale, the insider now directly owns 52,836 shares in the company, valued at approximately $7,066,815. This represents a 0.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 34,311 shares of company stock valued at $4,767,158 over the last 90 days. 0.48% of the stock is currently owned by company insiders.

First Solar Stock Up 4.1 %

Shares of FSLR traded up $5.34 during mid-day trading on Thursday, hitting $136.44. 3,237,695 shares of the company's stock were exchanged, compared to its average volume of 2,770,556. 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, Inc. has a twelve month low of $116.56 and a twelve month high of $306.77. The firm has a fifty day moving average of $134.34 and a two-hundred day moving average of $170.31. The stock has a market cap of $14.61 billion, a price-to-earnings ratio of 11.75, a P/E/G ratio of 0.19 and a beta of 1.48.

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 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 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, sell-side analysts forecast that First Solar, Inc. will post 13.05 earnings per share 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.