UniSuper Management Pty Ltd Trims Holdings in First Solar, Inc. (NASDAQ:FSLR)

UniSuper Management Pty Ltd decreased its position in First Solar, Inc. (NASDAQ:FSLR - Free Report) by 7.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 128,899 shares of the solar cell manufacturer's stock after selling 10,381 shares during the quarter. UniSuper Management Pty Ltd owned approximately 0.12% of First Solar worth $22,717,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. Whalen Wealth Management Inc. boosted its holdings in shares of First Solar by 47.0% in the 4th quarter. Whalen Wealth Management Inc. now owns 4,859 shares of the solar cell manufacturer's stock worth $856,000 after buying an additional 1,554 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its stake in First Solar by 665.8% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 39,192 shares of the solar cell manufacturer's stock valued at $7,308,000 after acquiring an additional 34,074 shares during the last quarter. Stifel Financial Corp grew its position in shares of First Solar by 36.9% during the 3rd quarter. Stifel Financial Corp now owns 21,446 shares of the solar cell manufacturer's stock valued at $5,350,000 after acquiring an additional 5,780 shares during the period. Paragon Capital Management Inc. purchased a new stake in shares of First Solar during the 4th quarter worth approximately $1,240,000. Finally, Robeco Institutional Asset Management B.V. raised its holdings in shares of First Solar by 9.0% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 595,267 shares of the solar cell manufacturer's stock worth $104,910,000 after purchasing an additional 49,074 shares during the period. 92.08% of the stock is owned by institutional investors.

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First Solar Trading Up 0.6 %

NASDAQ FSLR traded up $0.72 during trading on Friday, hitting $127.32. The company had a trading volume of 3,085,547 shares, compared to its average volume of 2,643,007. First Solar, Inc. has a one year low of $124.32 and a one year high of $306.77. 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 company's fifty day moving average is $150.28 and its 200-day moving average is $185.17. The company has a market cap of $13.63 billion, a price-to-earnings ratio of 10.97, a price-to-earnings-growth ratio of 0.19 and a beta of 1.52.

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 net margin of 32.41% and a return on equity of 17.56%. The business had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.48 billion. On average, sell-side analysts predict that First Solar, Inc. will post 13.05 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on FSLR shares. JPMorgan Chase & Co. decreased their target price 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. Wells Fargo & Company lowered their price objective on First Solar from $240.00 to $209.00 and set an "overweight" rating on the stock in a research note on Wednesday, January 8th. Morgan Stanley reduced their target price on shares of First Solar from $297.00 to $238.00 and set an "overweight" rating for the company in a research note on Thursday, February 27th. Piper Sandler dropped their price target on shares of First Solar from $250.00 to $230.00 and set an "overweight" rating on the stock in a research note on Wednesday, February 26th. Finally, Guggenheim reduced their price objective on shares of First Solar from $335.00 to $304.00 and set a "buy" rating for the company in a research note on Thursday, February 27th. Four investment analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $262.08.

Insiders Place Their Bets

In other news, insider Kuntal Kumar Verma sold 419 shares of the company's stock in a transaction dated Friday, March 7th. The shares were 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Mark R. Widmar sold 1,272 shares of the company's stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $132.96, for a total transaction of $169,125.12. Following the sale, the chief executive officer now directly owns 109,000 shares of the company's stock, valued at approximately $14,492,640. This represents a 1.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 34,311 shares of company stock valued at $4,767,158. 0.58% of the stock is owned by 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.