Rockefeller Capital Management L.P. Cuts Stock Position in First Solar, Inc. (NASDAQ:FSLR)

Rockefeller Capital Management L.P. trimmed its stake in shares of First Solar, Inc. (NASDAQ:FSLR - Free Report) by 76.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 21,001 shares of the solar cell manufacturer's stock after selling 68,273 shares during the quarter. Rockefeller Capital Management L.P.'s holdings in First Solar were worth $3,701,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of FSLR. Whalen Wealth Management Inc. boosted its holdings in First Solar by 47.0% during the fourth quarter. Whalen Wealth Management Inc. now owns 4,859 shares of the solar cell manufacturer's stock worth $856,000 after purchasing an additional 1,554 shares during the last quarter. Allspring Global Investments Holdings LLC increased its position in shares of First Solar by 665.8% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 39,192 shares of the solar cell manufacturer's stock valued at $7,308,000 after purchasing an additional 34,074 shares during the last quarter. Paragon Capital Management Inc. bought a new position in First Solar in the 4th quarter worth $1,240,000. Robeco Institutional Asset Management B.V. lifted its holdings in shares of First Solar by 9.0% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 595,267 shares of the solar cell manufacturer's stock valued at $104,910,000 after purchasing an additional 49,074 shares in the last quarter. Finally, Golden State Equity Partners increased its stake in shares of First Solar by 41,342.9% in the fourth quarter. Golden State Equity Partners now owns 2,901 shares of the solar cell manufacturer's stock worth $511,000 after purchasing an additional 2,894 shares in the last quarter. Institutional investors own 92.08% of the company's stock.

Wall Street Analyst Weigh In

FSLR has been the topic of a number of analyst reports. UBS Group cut their price target on First Solar from $285.00 to $240.00 and set a "buy" rating on the stock in a report on Monday, April 14th. Piper Sandler lowered their price objective on shares of First Solar from $230.00 to $205.00 and set an "overweight" rating for the company in a research note on Monday. JPMorgan Chase & Co. dropped their target price on shares of First Solar from $282.00 to $268.00 and set an "overweight" rating on the stock in a research report on Wednesday, February 26th. Susquehanna reduced their price target on shares of First Solar from $223.00 to $217.00 and set a "positive" rating on the stock in a report on Monday, April 14th. Finally, Mizuho upgraded shares of First Solar from a "neutral" rating to an "outperform" rating and increased their price objective for the stock from $218.00 to $259.00 in a report on Tuesday, February 11th. 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 stock. According to MarketBeat.com, First Solar has an average rating of "Moderate Buy" and an average target price of $250.58.

First Solar Trading Up 4.8 %

Shares of FSLR traded up $6.24 on Thursday, reaching $137.34. 983,632 shares of the company's stock were exchanged, compared to its average volume of 2,761,949. 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 12 month low of $116.56 and a 12 month high of $306.77. The business has a 50 day moving average price of $134.34 and a two-hundred day moving average price of $170.31. The stock has a market capitalization of $14.70 billion, a P/E ratio of 11.77, a price-to-earnings-growth ratio of 0.19 and a beta of 1.48.

First Solar (NASDAQ:FSLR - Get Free Report) last released its quarterly earnings data on Tuesday, February 25th. The solar cell manufacturer reported $3.65 EPS 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 during the quarter, compared to analyst estimates of $1.48 billion. Research analysts anticipate that First Solar, Inc. will post 13.05 earnings per share for the current year.

Insider Activity

In related news, CFO Alexander R. Bradley sold 599 shares of the stock in a transaction on Monday, March 17th. The shares were sold at an average price of $133.75, for a total transaction of $80,116.25. Following the transaction, the chief financial officer now directly owns 45,717 shares of the company's stock, valued at $6,114,648.75. This represents a 1.29 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Mark R. Widmar sold 1,966 shares of the firm's stock in a transaction 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 completion of the transaction, the chief executive officer now directly owns 111,890 shares in the company, valued at $14,965,287.50. This trade represents a 1.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 34,311 shares of company stock valued at $4,767,158. 0.48% of the stock is currently owned by corporate insiders.

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.