First Solar, Inc. (NASDAQ:FSLR) Shares Sold by DekaBank Deutsche Girozentrale

DekaBank Deutsche Girozentrale decreased its position in shares of First Solar, Inc. (NASDAQ:FSLR - Free Report) by 3.8% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 504,178 shares of the solar cell manufacturer's stock after selling 20,025 shares during the period. DekaBank Deutsche Girozentrale owned approximately 0.47% of First Solar worth $62,906,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of the company. Vanguard Group Inc. increased its position in First Solar by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 12,821,701 shares of the solar cell manufacturer's stock valued at $2,259,697,000 after acquiring an additional 120,289 shares during the last quarter. Geode Capital Management LLC increased its position in First Solar by 2.4% during the fourth quarter. Geode Capital Management LLC now owns 2,666,242 shares of the solar cell manufacturer's stock valued at $469,154,000 after acquiring an additional 63,739 shares during the last quarter. Wellington Management Group LLP increased its position in First Solar by 12.5% during the fourth quarter. Wellington Management Group LLP now owns 2,359,846 shares of the solar cell manufacturer's stock valued at $415,899,000 after acquiring an additional 262,482 shares during the last quarter. Invesco Ltd. increased its position in First Solar by 13.9% during the fourth quarter. Invesco Ltd. now owns 1,835,056 shares of the solar cell manufacturer's stock valued at $323,410,000 after acquiring an additional 223,933 shares during the last quarter. Finally, Norges Bank bought a new position in First Solar during the fourth quarter valued at $317,399,000. Institutional investors own 92.08% of the company's stock.

Insider Activity

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

First Solar Stock Down 0.5%

Shares of FSLR stock traded down $0.90 during mid-day trading on Thursday, hitting $165.09. 3,018,052 shares of the stock traded hands, compared to its average volume of 3,260,814. The stock has a market cap of $17.70 billion, a P/E ratio of 14.04, a P/E/G ratio of 0.33 and a beta of 1.52. The stock's fifty day moving average is $159.52 and its two-hundred day moving average is $154.45. First Solar, Inc. has a 52-week low of $116.56 and a 52-week high of $262.72. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.93 and a quick ratio of 1.39.

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

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on FSLR shares. Jefferies Financial Group upgraded shares of First Solar from a "hold" rating to a "buy" rating and upped their price target for the stock from $157.00 to $192.00 in a report on Wednesday, June 11th. Piper Sandler cut their price target on shares of First Solar from $230.00 to $205.00 and set an "overweight" rating on the stock in a report on Monday, April 21st. Mizuho upped their price target on shares of First Solar from $251.00 to $275.00 and gave the stock an "outperform" rating in a report on Monday, June 2nd. Wall Street Zen cut shares of First Solar from a "hold" rating to a "sell" rating in a report on Friday, May 2nd. Finally, Wells Fargo & Company cut their price target on shares of First Solar from $191.00 to $177.00 and set an "overweight" rating on the stock in a report on Wednesday, April 30th. Two analysts have rated the stock with a sell rating, four have issued a hold rating, twenty-four have issued 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 an average target price of $228.69.

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.