First Solar, Inc. (NASDAQ:FSLR) Shares Sold by DnB Asset Management AS

DnB Asset Management AS lessened its stake in shares of First Solar, Inc. (NASDAQ:FSLR) by 0.5% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 36,268 shares of the solar cell manufacturer’s stock after selling 181 shares during the period. DnB Asset Management AS’s holdings in First Solar were worth $6,392,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Whalen Wealth Management Inc. lifted its stake in shares of 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 valued at $856,000 after buying an additional 1,554 shares during the period. Allspring Global Investments Holdings LLC increased 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 purchasing an additional 34,074 shares during the last quarter. Stifel Financial Corp lifted its position in First Solar by 36.9% during the third quarter. Stifel Financial Corp now owns 21,446 shares of the solar cell manufacturer’s stock worth $5,350,000 after buying an additional 5,780 shares during the period. Paragon Capital Management Inc. purchased a new position in First Solar during the fourth quarter worth about $1,240,000. Finally, Robeco Institutional Asset Management B.V. grew its holdings in 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 valued at $104,910,000 after buying an additional 49,074 shares during the period. Hedge funds and other institutional investors own 92.08% of the company’s stock.

Insider Transactions at First Solar

In other news, insider Georges Antoun sold 229 shares of the business’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 value of $30,628.75. Following the completion of the sale, the insider now directly owns 52,836 shares in the company, valued at approximately $7,066,815. The trade was a 0.43 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Mark R. Widmar sold 1,966 shares of the firm’s stock in a transaction on Monday, March 17th. The stock was sold at an average price of $133.75, for a total value of $262,952.50. Following the transaction, the chief executive officer now 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. In the last 90 days, insiders sold 34,311 shares of company stock valued at $4,767,158. Insiders own 0.58% of the company’s stock.

First Solar Trading Up 0.6 %

Shares of FSLR opened at $127.32 on Monday. First Solar, Inc. has a one year low of $124.32 and a one year high of $306.77. The stock has a 50-day moving average price of $150.28 and a 200 day moving average price of $184.79. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.44 and a current ratio of 2.14. The company has a market capitalization of $13.63 billion, a P/E ratio of 10.97, a P/E/G ratio of 0.19 and a beta of 1.52.

First Solar (NASDAQ:FSLR) last released its quarterly 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). The company had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.48 billion. First Solar had a return on equity of 17.56% and a net margin of 32.41%. Sell-side analysts forecast that First Solar, Inc. will post 13.05 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Wells Fargo & Company cut their price objective on shares of First Solar from $240.00 to $209.00 and set an “overweight” rating on the stock in a report on Wednesday, January 8th. Citigroup cut their price target on shares of First Solar from $254.00 to $236.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 26th. Barclays lowered their price objective on shares of First Solar from $273.00 to $236.00 and set an “overweight” rating for the company in a research note on Friday, February 28th. Seaport Res Ptn raised First Solar from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, January 15th. Finally, Morgan Stanley lowered their price target on First Solar from $297.00 to $238.00 and set an “overweight” rating for the company in a research report on Thursday, February 27th. Four equities research 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. According to data from MarketBeat, First Solar presently has a consensus rating of “Moderate Buy” and a consensus price target of $262.08.

First Solar 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.