BNP Paribas Sells 3,661 Shares of First Solar, Inc. (NASDAQ:FSLR)

BNP Paribas decreased its position in shares of First Solar, Inc. (NASDAQ:FSLR - Free Report) by 56.2% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,856 shares of the solar cell manufacturer's stock after selling 3,661 shares during the quarter. BNP Paribas' holdings in First Solar were worth $504,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of FSLR. Smartleaf Asset Management LLC lifted its holdings in First Solar by 31.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 262 shares of the solar cell manufacturer's stock valued at $47,000 after buying an additional 63 shares during the period. Crews Bank & Trust bought a new position in shares of First Solar in the 4th quarter worth about $53,000. Hudson Edge Investment Partners Inc. acquired a new position in shares of First Solar in the 4th quarter valued at about $53,000. CoreFirst Bank & Trust bought a new stake in shares of First Solar during the 4th quarter valued at about $54,000. Finally, Montag A & Associates Inc. increased its holdings in First Solar by 18.8% in the fourth quarter. Montag A & Associates Inc. now owns 475 shares of the solar cell manufacturer's stock worth $84,000 after purchasing an additional 75 shares in the last quarter. Institutional investors and hedge funds own 92.08% of the company's stock.

Insider Buying and Selling

In related news, insider Georges Antoun sold 229 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 transaction of $30,628.75. Following the completion of the transaction, the insider now owns 52,836 shares of the company's stock, valued at approximately $7,066,815. The trade was a 0.43 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Alexander R. Bradley sold 599 shares of the stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $133.75, for a total transaction of $80,116.25. Following the completion of the sale, the chief financial officer now owns 45,717 shares in the company, valued at $6,114,648.75. This represents a 1.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 34,311 shares of company stock valued at $4,767,158. Corporate insiders own 0.48% of the company's stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on FSLR shares. Royal Bank of Canada cut their target price on shares of First Solar from $237.00 to $214.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 30th. Roth Mkm reaffirmed a "buy" rating and set a $280.00 price target on shares of First Solar in a research note on Wednesday, February 26th. Deutsche Bank Aktiengesellschaft set a $265.00 price objective on First Solar in a research note on Thursday, February 27th. Bank of America lowered their target price on First Solar from $236.00 to $215.00 and set a "buy" rating on the stock in a research report on Tuesday, April 8th. Finally, Mizuho upgraded shares of First Solar from a "neutral" rating to an "outperform" rating and boosted their price target for the company from $218.00 to $259.00 in a research note on Tuesday, February 11th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating, twenty-three have issued a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $223.87.

First Solar Price Performance

FSLR opened at $130.54 on Monday. The firm has a 50-day moving average price of $131.03 and a 200-day moving average price of $165.85. First Solar, Inc. has a twelve month low of $116.56 and a twelve month high of $306.77. The company has a quick ratio of 1.44, a current ratio of 2.14 and a debt-to-equity ratio of 0.05. The company has a market capitalization of $14.00 billion, a price-to-earnings ratio of 11.24, a PEG ratio of 0.19 and a beta of 1.48.

First Solar (NASDAQ:FSLR - Get Free Report) last issued its earnings results on Tuesday, April 29th. The solar cell manufacturer reported $1.95 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.50 by ($0.55). First Solar had a net margin of 32.41% and a return on equity of 17.56%. The business had revenue of $844.57 million for the quarter, compared to the consensus estimate of $863.11 million. During the same period in the previous year, the firm earned $2.20 EPS. The company's revenue was up 6.4% compared to the same quarter last year. Equities analysts expect 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.

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