Meeder Asset Management Inc. Cuts Stock Position in First Solar, Inc. (NASDAQ:FSLR)

Meeder Asset Management Inc. cut its stake in shares of First Solar, Inc. (NASDAQ:FSLR - Free Report) by 92.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 872 shares of the solar cell manufacturer's stock after selling 10,134 shares during the quarter. Meeder Asset Management Inc.'s holdings in First Solar were worth $154,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of FSLR. Clear Harbor Asset Management LLC lifted its holdings in shares of First Solar by 0.6% in the 4th quarter. Clear Harbor Asset Management LLC now owns 9,210 shares of the solar cell manufacturer's stock worth $1,623,000 after purchasing an additional 55 shares in the last quarter. Doliver Advisors LP raised its holdings in First Solar by 1.2% during the fourth quarter. Doliver Advisors LP now owns 4,713 shares of the solar cell manufacturer's stock worth $831,000 after buying an additional 56 shares during the last quarter. Smartleaf Asset Management LLC lifted its stake in shares of First Solar by 31.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 262 shares of the solar cell manufacturer's stock valued at $47,000 after buying an additional 63 shares in the last quarter. Independent Advisor Alliance grew its holdings in shares of First Solar by 3.1% during the fourth quarter. Independent Advisor Alliance now owns 2,090 shares of the solar cell manufacturer's stock valued at $368,000 after buying an additional 63 shares during the last quarter. Finally, Mutual Advisors LLC increased its position in shares of First Solar by 5.3% during the fourth quarter. Mutual Advisors LLC now owns 1,463 shares of the solar cell manufacturer's stock worth $279,000 after acquiring an additional 73 shares in the last quarter. 92.08% of the stock is currently owned by institutional investors and hedge funds.

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First Solar Stock Performance

Shares of NASDAQ FSLR traded down $7.54 during mid-day trading on Friday, hitting $128.69. The company had a trading volume of 4,687,136 shares, compared to its average volume of 2,686,459. The stock's 50-day moving average price is $145.44 and its 200-day moving average price is $181.88. The company has a market capitalization of $13.78 billion, a price-to-earnings ratio of 11.08, a P/E/G ratio of 0.19 and a beta of 1.52. The company has a current ratio of 2.14, a quick ratio of 1.44 and a debt-to-equity ratio of 0.05. First Solar, Inc. has a 1 year low of $120.60 and a 1 year high of $306.77.

First Solar (NASDAQ:FSLR - Get Free Report) last announced its quarterly 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). First Solar had a net margin of 32.41% and a return on equity of 17.56%. The company had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.48 billion. On average, sell-side analysts forecast that First Solar, Inc. will post 13.05 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms have issued reports on FSLR. Roth Mkm reiterated a "buy" rating and set a $280.00 price target on shares of First Solar in a research note on Wednesday, February 26th. JPMorgan Chase & Co. lowered their price target on First Solar from $282.00 to $268.00 and set an "overweight" rating for the company in a research report on Wednesday, February 26th. Deutsche Bank Aktiengesellschaft set a $265.00 target price on shares of First Solar in a report on Thursday, February 27th. 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, 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 analysts have rated the stock with a hold rating, twenty-three have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, First Solar has an average rating of "Moderate Buy" and a consensus price target of $260.42.

Insiders Place Their Bets

In related news, insider Kuntal Kumar Verma sold 7,475 shares of the company's stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $136.60, for a total value of $1,021,085.00. Following the transaction, the insider now directly owns 3,549 shares in the company, valued at approximately $484,793.40. This represents a 67.81 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Mark R. Widmar sold 1,966 shares of First Solar stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $133.75, for a total transaction of $262,952.50. Following the sale, the chief executive officer now owns 111,890 shares of the company's stock, valued at approximately $14,965,287.50. The trade was a 1.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 34,311 shares of company stock worth $4,767,158 in the last three months. 0.58% of the stock is currently owned by corporate insiders.

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.