Fmr LLC Sells 2,227,201 Shares of First Solar, Inc. (NASDAQ:FSLR)

FMR LLC lessened its holdings in First Solar, Inc. (NASDAQ:FSLR - Free Report) by 55.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,760,550 shares of the solar cell manufacturer's stock after selling 2,227,201 shares during the quarter. FMR LLC owned 1.64% of First Solar worth $310,279,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Smartleaf Asset Management LLC grew its position in shares of First Solar by 31.7% during the 4th 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 in the last quarter. Crews Bank & Trust acquired a new stake in First Solar during the fourth quarter worth approximately $53,000. Hudson Edge Investment Partners Inc. acquired a new position in First Solar in the 4th quarter valued at $53,000. CoreFirst Bank & Trust bought a new stake in shares of First Solar during the 4th quarter valued at $54,000. Finally, Montag A & Associates Inc. lifted its position in First Solar by 18.8% during the fourth quarter. Montag A & Associates Inc. now owns 475 shares of the solar cell manufacturer's stock worth $84,000 after purchasing an additional 75 shares during the period. 92.08% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other First Solar news, insider Kuntal Kumar Verma sold 7,475 shares of the business's stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $136.60, for a total value of $1,021,085.00. Following the completion of the sale, the insider now owns 3,549 shares in the company, valued at approximately $484,793.40. The trade was a 67.81 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Mark R. Widmar sold 21,542 shares of the firm's stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $141.09, for a total transaction of $3,039,360.78. Following the completion of the transaction, the chief executive officer now owns 103,403 shares in the company, valued at $14,589,129.27. This represents a 17.24 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 34,311 shares of company stock worth $4,767,158. 0.58% of the stock is currently owned by insiders.

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Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. UBS Group decreased their price target on First Solar from $285.00 to $240.00 and set a "buy" rating on the stock in a research note on Monday. Bank of America reduced their target price on shares of First Solar from $236.00 to $215.00 and set a "buy" rating on the stock in a report on Tuesday, April 8th. Royal Bank of Canada dropped their price target on shares of First Solar from $280.00 to $251.00 and set an "outperform" rating for the company in a research note on Wednesday, February 26th. Citigroup reduced their price objective on shares of First Solar from $254.00 to $236.00 and set a "neutral" rating on the stock in a research note on Wednesday, February 26th. Finally, Morgan Stanley cut their target price on First Solar from $297.00 to $238.00 and set an "overweight" rating on the stock in a report on Thursday, February 27th. Four analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, First Solar presently has a consensus rating of "Moderate Buy" and a consensus target price of $251.63.

First Solar Price Performance

Shares of FSLR stock traded down $4.38 during trading hours on Tuesday, reaching $126.88. The stock had a trading volume of 2,032,258 shares, compared to its average volume of 2,734,026. The stock's fifty day simple moving average is $139.20 and its 200 day simple moving average is $174.76. 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 has a market capitalization of $13.58 billion, a PE ratio of 10.93, a PEG ratio of 0.19 and a beta of 1.48. First Solar, Inc. has a 12 month low of $116.56 and a 12 month high of $306.77.

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 analysts' consensus estimates 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 during the quarter, compared to the consensus estimate of $1.48 billion. On average, equities research analysts predict that First Solar, Inc. will post 13.05 EPS for the current year.

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.