First Solar, Inc. (NASDAQ:FSLR) Holdings Decreased by Mitsubishi UFJ Trust & Banking Corp

Mitsubishi UFJ Trust & Banking Corp lowered its position in First Solar, Inc. (NASDAQ:FSLR - Free Report) by 4.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 44,114 shares of the solar cell manufacturer's stock after selling 2,017 shares during the period. Mitsubishi UFJ Trust & Banking Corp's holdings in First Solar were worth $7,775,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. CoreFirst Bank & Trust purchased a new position in shares of First Solar in the 4th quarter worth about $54,000. Vanguard Group Inc. lifted its position in First Solar by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 12,821,701 shares of the solar cell manufacturer's stock worth $2,259,697,000 after buying an additional 120,289 shares during the last quarter. LPL Financial LLC boosted its stake in shares of First Solar by 17.9% in the 4th quarter. LPL Financial LLC now owns 53,675 shares of the solar cell manufacturer's stock valued at $9,460,000 after purchasing an additional 8,167 shares in the last quarter. Optimum Investment Advisors grew its stake in shares of First Solar by 4.8% during the fourth quarter. Optimum Investment Advisors now owns 3,306 shares of the solar cell manufacturer's stock valued at $583,000 after buying an additional 150 shares during the last quarter. Finally, KLP Kapitalforvaltning AS bought a new position in First Solar during the 4th quarter worth approximately $14,469,000. 92.08% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. 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. JPMorgan Chase & Co. cut their price objective on shares of First Solar from $282.00 to $268.00 and set an "overweight" rating on the stock in a report on Wednesday, February 26th. Bank of America decreased their price objective on shares of First Solar from $246.00 to $236.00 and set a "buy" rating for the company in a report on Tuesday, January 28th. Guggenheim reduced their price objective on First Solar from $335.00 to $304.00 and set a "buy" rating for the company in a research report on Thursday, February 27th. Finally, Truist Financial reiterated a "buy" rating and set a $285.00 price objective (down from $300.00) on shares of First Solar in a research note on Wednesday, February 26th. Four investment analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $262.08.

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Insider Buying and Selling at First Solar

In other news, insider Kuntal Kumar Verma sold 7,475 shares of First Solar 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 owns 3,549 shares of the company's stock, valued at $484,793.40. The trade was a 67.81 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Georges Antoun sold 229 shares of the firm's stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $133.75, for a total transaction of $30,628.75. Following the sale, the insider now owns 52,836 shares of the company's stock, valued at $7,066,815. The trade was a 0.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 34,311 shares of company stock valued at $4,767,158. 0.58% of the stock is owned by corporate insiders.

First Solar Stock Performance

Shares of FSLR stock traded up $0.11 during trading hours on Tuesday, reaching $126.54. The stock had a trading volume of 2,162,635 shares, compared to its average volume of 2,780,648. The firm has a market capitalization of $13.55 billion, a PE ratio of 10.89, a price-to-earnings-growth ratio of 0.19 and a beta of 1.52. The firm has a 50-day simple moving average of $148.95 and a 200-day simple moving average of $184.01. First Solar, Inc. has a twelve month low of $120.60 and a twelve month high of $306.77. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.14 and a quick ratio of 1.44.

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 (EPS) 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 for the quarter, compared to analyst estimates of $1.48 billion. As a group, equities analysts forecast that First Solar, Inc. will post 13.05 earnings per share for the current year.

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.