Ameriprise Financial Inc. Decreases Stock Position in First Solar, Inc. (NASDAQ:FSLR)

Ameriprise Financial Inc. lessened its holdings in First Solar, Inc. (NASDAQ:FSLR - Free Report) by 17.3% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 104,407 shares of the solar cell manufacturer's stock after selling 21,894 shares during the period. Ameriprise Financial Inc. owned 0.10% of First Solar worth $18,401,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Clear Harbor Asset Management LLC raised its position in First Solar by 0.6% during the fourth quarter. Clear Harbor Asset Management LLC now owns 9,210 shares of the solar cell manufacturer's stock valued at $1,623,000 after purchasing an additional 55 shares in the last quarter. Smartleaf Asset Management LLC raised its position in First Solar by 31.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 262 shares of the solar cell manufacturer's stock valued at $47,000 after purchasing an additional 63 shares in the last quarter. Independent Advisor Alliance raised its position in First Solar by 3.1% during the fourth quarter. Independent Advisor Alliance now owns 2,090 shares of the solar cell manufacturer's stock valued at $368,000 after purchasing an additional 63 shares in the last quarter. Huntington National Bank raised its position in First Solar by 15.3% during the fourth quarter. Huntington National Bank now owns 511 shares of the solar cell manufacturer's stock valued at $90,000 after purchasing an additional 68 shares in the last quarter. Finally, Evexia Wealth LLC raised its position in First Solar by 2.1% during the fourth quarter. Evexia Wealth LLC now owns 3,481 shares of the solar cell manufacturer's stock valued at $586,000 after purchasing an additional 70 shares in the last quarter. Hedge funds and other institutional investors own 92.08% of the company's stock.

Insiders Place Their Bets

In related news, CEO Mark R. Widmar sold 1,966 shares of the business's stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $133.75, for a total value 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. The trade was a 1.73% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Kuntal Kumar Verma sold 419 shares of the business's 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 transaction, the insider now owns 4,695 shares of the company's stock, valued at approximately $624,247.20. The trade was a 8.19% 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.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on FSLR. Jefferies Financial Group downgraded First Solar from a "buy" rating to a "hold" rating and lowered their price target for the company from $202.00 to $127.00 in a research report on Wednesday, April 30th. Wells Fargo & Company lowered their price target on First Solar from $191.00 to $177.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 30th. Glj Research upgraded First Solar from a "hold" rating to a "buy" rating and set a $172.37 price objective on the stock in a report on Thursday, May 1st. UBS Group reiterated a "buy" rating and issued a $255.00 price objective on shares of First Solar in a report on Wednesday. Finally, Citigroup decreased their price objective on First Solar from $254.00 to $236.00 and set a "neutral" rating on the stock in a report on Wednesday, February 26th. Two analysts have rated the stock with a sell rating, five have issued a hold rating, twenty-four have given a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $224.48.

First Solar Stock Down 4.1%

First Solar stock traded down $7.72 during trading hours on Friday, hitting $178.46. 5,251,444 shares of the stock traded hands, compared to its average volume of 3,066,270. The firm's 50-day moving average price is $134.97 and its two-hundred day moving average price is $163.14. 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 has a market cap of $19.14 billion, a PE ratio of 15.37, a PEG ratio of 0.19 and a beta of 1.46. First Solar, Inc. has a one year low of $116.56 and a one year high of $306.77.

First Solar (NASDAQ:FSLR - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The solar cell manufacturer reported $1.95 earnings per share for the quarter, missing the consensus estimate of $2.50 by ($0.55). First Solar had a return on equity of 17.56% and a net margin of 32.41%. The company had revenue of $844.57 million during the quarter, compared to analysts' expectations of $863.11 million. During the same quarter in the previous year, the company earned $2.20 EPS. The business's quarterly revenue was up 6.4% on a year-over-year basis. On average, research analysts forecast that First Solar, Inc. will post 13.05 EPS for the current year.

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.