Sierra Summit Advisors LLC Trims Stock Position in First Solar, Inc. (NASDAQ:FSLR)

Sierra Summit Advisors LLC trimmed its stake in First Solar, Inc. (NASDAQ:FSLR - Free Report) by 7.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 49,285 shares of the solar cell manufacturer's stock after selling 3,817 shares during the period. First Solar makes up approximately 1.7% of Sierra Summit Advisors LLC's portfolio, making the stock its 25th biggest holding. Sierra Summit Advisors LLC's holdings in First Solar were worth $8,686,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of FSLR. Benjamin Edwards Inc. purchased a new position in shares of First Solar in the 3rd quarter worth about $229,000. Hilltop Holdings Inc. purchased a new stake in First Solar in the third quarter worth approximately $316,000. Royal London Asset Management Ltd. grew its position in First Solar by 1.3% during the third quarter. Royal London Asset Management Ltd. now owns 47,840 shares of the solar cell manufacturer's stock valued at $11,933,000 after acquiring an additional 606 shares during the last quarter. Quantinno Capital Management LP lifted its holdings in shares of First Solar by 20.6% in the 3rd quarter. Quantinno Capital Management LP now owns 2,177 shares of the solar cell manufacturer's stock worth $543,000 after acquiring an additional 372 shares during the last quarter. Finally, Stifel Financial Corp boosted its stake in shares of First Solar by 36.9% in the 3rd quarter. Stifel Financial Corp now owns 21,446 shares of the solar cell manufacturer's stock valued at $5,350,000 after purchasing an additional 5,780 shares in the last quarter. 92.08% of the stock is owned by hedge funds and other institutional investors.

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Wall Street Analysts Forecast Growth

Several research firms have weighed in on FSLR. Mizuho raised shares of First Solar from a "neutral" rating to an "outperform" rating and boosted their price target for the stock from $218.00 to $259.00 in a research note on Tuesday, February 11th. JPMorgan Chase & Co. lowered their target price on First Solar from $282.00 to $268.00 and set an "overweight" rating for the company in a research note on Wednesday, February 26th. Roth Mkm restated a "buy" rating and set a $280.00 price target on shares of First Solar in a research report on Wednesday, February 26th. UBS Group lowered their price objective on First Solar from $360.00 to $285.00 and set a "buy" rating for the company in a research report on Wednesday, February 26th. Finally, 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. 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's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $256.08.

Insider Buying and Selling at First Solar

In other 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 transaction of $3,039,360.78. Following the sale, the chief executive officer now owns 103,403 shares of the company's stock, valued at $14,589,129.27. This trade represents a 17.24 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Kuntal Kumar Verma sold 419 shares of First Solar stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $132.96, for a total transaction of $55,710.24. Following the completion of the sale, the insider now owns 4,695 shares of the company's stock, valued at $624,247.20. This represents a 8.19 % decrease in their ownership of the stock. 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. Insiders own 0.58% of the company's stock.

First Solar Stock Up 3.1 %

Shares of First Solar stock traded up $3.74 during midday trading on Friday, hitting $125.93. The company had a trading volume of 2,689,100 shares, compared to its average volume of 2,733,280. The company has a 50 day moving average of $139.83 and a 200 day moving average of $176.18. The stock has a market capitalization of $13.48 billion, a P/E ratio of 10.85, a P/E/G ratio of 0.19 and a beta of 1.48. First Solar, Inc. has a 52-week low of $116.56 and a 52-week high of $306.77. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.44 and a current ratio of 2.14.

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 firm had revenue of $1.51 billion during the quarter, compared to the consensus estimate of $1.48 billion. On average, equities analysts predict that First Solar, Inc. will post 13.05 earnings per share for the current fiscal 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.