First Solar, Inc. (NASDAQ:FSLR) Shares Sold by Sentry Investment Management LLC

Sentry Investment Management LLC lowered its position in First Solar, Inc. (NASDAQ:FSLR) by 17.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 465 shares of the solar cell manufacturer’s stock after selling 95 shares during the quarter. Sentry Investment Management LLC’s holdings in First Solar were worth $105,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in FSLR. Vanguard Group Inc. raised its position in First Solar by 0.9% during the first quarter. Vanguard Group Inc. now owns 12,257,053 shares of the solar cell manufacturer’s stock worth $2,068,991,000 after acquiring an additional 105,236 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its position in shares of First Solar by 11.1% during the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 2,801,916 shares of the solar cell manufacturer’s stock worth $472,963,000 after purchasing an additional 279,719 shares during the last quarter. Schroder Investment Management Group lifted its stake in First Solar by 16.7% in the 4th quarter. Schroder Investment Management Group now owns 2,454,499 shares of the solar cell manufacturer’s stock valued at $422,861,000 after buying an additional 351,540 shares in the last quarter. Norges Bank acquired a new stake in First Solar during the 4th quarter valued at $298,123,000. Finally, Northern Trust Corp increased its position in First Solar by 1.7% during the fourth quarter. Northern Trust Corp now owns 1,020,527 shares of the solar cell manufacturer’s stock worth $175,816,000 after buying an additional 16,756 shares in the last quarter. Institutional investors and hedge funds own 92.08% of the company’s stock.

First Solar Price Performance

First Solar stock opened at $235.95 on Friday. The firm has a fifty day moving average of $220.93 and a 200-day moving average of $209.11. First Solar, Inc. has a 52-week low of $129.21 and a 52-week high of $306.77. The company has a quick ratio of 1.65, a current ratio of 2.23 and a debt-to-equity ratio of 0.06. The firm has a market capitalization of $25.26 billion, a P/E ratio of 24.73, a PEG ratio of 0.35 and a beta of 1.44.

First Solar (NASDAQ:FSLR) last announced its quarterly earnings results on Tuesday, July 30th. The solar cell manufacturer reported $3.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.69 by $0.56. The firm had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $939.71 million. First Solar had a return on equity of 17.73% and a net margin of 31.98%. The firm’s quarterly revenue was up 24.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.85 EPS. As a group, analysts predict that First Solar, Inc. will post 13.6 EPS for the current year.

Wall Street Analyst Weigh In

FSLR has been the topic of a number of analyst reports. Oppenheimer increased their price objective on First Solar from $325.00 to $326.00 and gave the company an “outperform” rating in a research note on Wednesday, July 31st. Piper Sandler lifted their price target on shares of First Solar from $219.00 to $250.00 and gave the stock an “overweight” rating in a report on Monday, July 22nd. Robert W. Baird reduced their price objective on shares of First Solar from $344.00 to $307.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 2nd. JPMorgan Chase & Co. lifted their target price on shares of First Solar from $262.00 to $282.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 16th. Finally, Barclays boosted their price target on First Solar from $280.00 to $290.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. Five research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $277.25.

Insider Buying and Selling

In other First Solar news, insider Patrick James Buehler sold 8,619 shares of the stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $222.00, for a total value of $1,913,418.00. Following the completion of the sale, the insider now owns 3,468 shares of the company’s stock, valued at $769,896. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CAO Byron Michael Jeffers sold 1,766 shares of the stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $216.50, for a total value of $382,339.00. Following the completion of the transaction, the chief accounting officer now owns 500 shares of the company’s stock, valued at $108,250. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Patrick James Buehler sold 8,619 shares of First Solar stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $222.00, for a total value of $1,913,418.00. Following the sale, the insider now owns 3,468 shares in the company, valued at $769,896. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 12,506 shares of company stock valued at $2,827,217. Corporate insiders own 0.58% of the company’s stock.

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.