Prudential PLC Has $2.53 Million Position in First Solar, Inc. (NASDAQ:FSLR)

Prudential PLC reduced its position in shares of First Solar, Inc. (NASDAQ:FSLR - Free Report) by 65.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 14,370 shares of the solar cell manufacturer's stock after selling 27,182 shares during the period. Prudential PLC's holdings in First Solar were worth $2,533,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of FSLR. Smartleaf Asset Management LLC raised its position in shares of First Solar by 31.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 262 shares of the solar cell manufacturer's stock worth $47,000 after purchasing an additional 63 shares during the period. Crews Bank & Trust purchased a new stake in First Solar during the fourth quarter valued at about $53,000. Hudson Edge Investment Partners Inc. acquired a new position in shares of First Solar in the fourth quarter worth about $53,000. CoreFirst Bank & Trust purchased a new position in shares of First Solar in the fourth quarter worth approximately $54,000. Finally, Financial Avengers Inc. acquired a new stake in shares of First Solar during the third quarter valued at approximately $77,000. 92.08% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

FSLR has been the topic of several research analyst reports. UBS Group lowered their price objective on shares of First Solar from $360.00 to $285.00 and set a "buy" rating on the stock in a research report on Wednesday, February 26th. Truist Financial reissued a "buy" rating and set a $245.00 price target (down from $285.00) on shares of First Solar in a research report on Wednesday, April 2nd. Roth Mkm restated a "buy" rating and set a $280.00 price objective on shares of First Solar in a research report on Wednesday, February 26th. 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. Finally, Deutsche Bank Aktiengesellschaft set a $265.00 price objective on shares of First Solar in a research report on Thursday, February 27th. Four analysts have rated the stock with a hold rating, twenty-three have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $257.42.

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Insider Transactions at First Solar

In other First Solar news, CEO Mark R. Widmar sold 21,542 shares of the firm's stock in a transaction dated 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 sale, the chief executive officer now owns 103,403 shares in the company, valued at approximately $14,589,129.27. This trade represents a 17.24 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Kuntal Kumar Verma sold 7,475 shares of the stock in a transaction that occurred on Friday, February 28th. The shares were 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. This trade represents a 67.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 34,311 shares of company stock worth $4,767,158. Insiders own 0.58% of the company's stock.

First Solar Price Performance

NASDAQ FSLR traded down $0.43 during trading on Friday, reaching $121.76. 932,213 shares of the company traded hands, compared to its average volume of 2,721,982. The stock's 50 day moving average price is $140.63 and its two-hundred day moving average price is $176.99. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.44 and a current ratio of 2.14. The company has a market cap of $13.04 billion, a price-to-earnings ratio of 10.47, a P/E/G ratio of 0.19 and a beta of 1.48. First Solar, Inc. has a 1-year low of $116.56 and a 1-year high of $306.77.

First Solar (NASDAQ:FSLR - Get Free Report) last issued its quarterly earnings data 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 firm had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.48 billion. First Solar had a return on equity of 17.56% and a net margin of 32.41%. As a group, analysts anticipate that First Solar, Inc. will post 13.05 EPS 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.