First Solar, Inc. (NASDAQ:FSLR) Shares Sold by D.A. Davidson & CO.

D.A. Davidson & CO. cut its holdings in shares of First Solar, Inc. (NASDAQ:FSLR - Free Report) by 40.3% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,586 shares of the solar cell manufacturer's stock after selling 1,749 shares during the period. D.A. Davidson & CO.'s holdings in First Solar were worth $327,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the business. Garde Capital Inc. acquired a new position in shares of First Solar in the 1st quarter valued at $25,000. Princeton Global Asset Management LLC acquired a new stake in First Solar during the 1st quarter worth about $51,000. Banque Transatlantique SA acquired a new stake in First Solar during the 4th quarter worth about $53,000. CoreFirst Bank & Trust acquired a new stake in First Solar during the 4th quarter worth about $54,000. Finally, Rakuten Securities Inc. grew its position in First Solar by 116.3% during the 1st quarter. Rakuten Securities Inc. now owns 465 shares of the solar cell manufacturer's stock worth $59,000 after purchasing an additional 250 shares during the period. 92.08% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on FSLR shares. Jefferies Financial Group raised First Solar from a "hold" rating to a "buy" rating and increased their price target for the stock from $157.00 to $192.00 in a research report on Wednesday, June 11th. Oppenheimer downgraded First Solar from an "outperform" rating to a "market perform" rating in a research report on Wednesday, April 30th. Morgan Stanley set a $223.00 price target on First Solar and gave the stock an "overweight" rating in a research report on Wednesday, April 23rd. BMO Capital Markets cut their price target on First Solar from $200.00 to $187.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 30th. Finally, Wall Street Zen lowered shares of First Solar from a "hold" rating to a "sell" rating in a research note on Friday, May 2nd. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, twenty-four have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $228.69.

First Solar Price Performance

First Solar stock traded down $2.65 during midday trading on Friday, reaching $162.44. The company had a trading volume of 2,136,077 shares, compared to its average volume of 3,259,446. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.93 and a quick ratio of 1.39. The firm's fifty day simple moving average is $160.16 and its 200-day simple moving average is $154.29. First Solar, Inc. has a 12-month low of $116.56 and a 12-month high of $262.72. The company has a market capitalization of $17.42 billion, a P/E ratio of 13.81, a P/E/G ratio of 0.33 and a beta of 1.52.

First Solar (NASDAQ:FSLR - Get Free Report) last released its earnings results on Tuesday, April 29th. The solar cell manufacturer reported $1.95 earnings per share for the quarter, missing analysts' consensus estimates of $2.50 by ($0.55). First Solar had a return on equity of 16.32% and a net margin of 29.72%. The business had revenue of $844.57 million during the quarter, compared to analysts' expectations of $863.11 million. During the same period last year, the business earned $2.20 earnings per share. The company's revenue for the quarter was up 6.4% compared to the same quarter last year. As a group, equities analysts anticipate that First Solar, Inc. will post 13.05 EPS for the current year.

Insider Transactions at First Solar

In other news, insider Michael Koralewski sold 2,951 shares of the firm's stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $158.21, for a total transaction of $466,877.71. Following the completion of the sale, the insider owned 11,369 shares in the company, valued at $1,798,689.49. This trade represents a 20.61% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CTO Markus Gloeckler sold 9,557 shares of the firm's stock in a transaction that occurred on Wednesday, May 28th. The stock was sold at an average price of $155.05, for a total transaction of $1,481,812.85. Following the sale, the chief technology officer owned 8,037 shares of the company's stock, valued at $1,246,136.85. This represents a 54.32% decrease in their position. The disclosure for this sale can be found here. Insiders sold 15,976 shares of company stock worth $2,515,172 in the last 90 days. Insiders own 0.48% of the company's stock.

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.