First Solar, Inc. $FSLR Shares Sold by ASR Vermogensbeheer N.V.

Key Points

• ASR Vermogensbeheer N.V. cut its First Solar stake by 35.3% in the fourth quarter, selling 11,250 shares and leaving it with 20,625 shares valued at about $5.39 million.
• First Solar reported strong quarterly results, posting EPS of $3.22 versus estimates of $2.87 and revenue of $1.04 billion, with revenue up 23.6% year over year.
• Analyst sentiment remains mostly positive but mixed: several firms raised or maintained buy ratings, while some trimmed price targets; the stock currently carries a Moderate Buy consensus and an average target price of $246.10.

ASR Vermogensbeheer N.V. lowered its position in shares of First Solar, Inc. (NASDAQ:FSLR - Free Report) by 35.3% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 20,625 shares of the solar cell manufacturer's stock after selling 11,250 shares during the quarter. ASR Vermogensbeheer N.V.'s holdings in First Solar were worth $5,388,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Woodline Partners LP lifted its holdings in shares of First Solar by 40.7% in the 1st quarter. Woodline Partners LP now owns 9,044 shares of the solar cell manufacturer's stock worth $1,143,000 after purchasing an additional 2,615 shares during the last quarter. EverSource Wealth Advisors LLC lifted its holdings in shares of First Solar by 50.9% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 516 shares of the solar cell manufacturer's stock worth $85,000 after purchasing an additional 174 shares during the last quarter. Brown Advisory Inc. lifted its holdings in shares of First Solar by 84.3% in the 2nd quarter. Brown Advisory Inc. now owns 4,529 shares of the solar cell manufacturer's stock worth $750,000 after purchasing an additional 2,072 shares during the last quarter. Cerity Partners LLC bought a new stake in shares of First Solar in the 2nd quarter worth approximately $494,000. Finally, AXA S.A. lifted its holdings in shares of First Solar by 6.3% in the 2nd quarter. AXA S.A. now owns 18,862 shares of the solar cell manufacturer's stock worth $3,122,000 after purchasing an additional 1,115 shares during the last quarter. Institutional investors and hedge funds own 92.08% of the company's stock.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Wolfe Research downgraded First Solar from a "strong-buy" rating to a "hold" rating in a report on Thursday, February 26th. The Goldman Sachs Group raised their target price on First Solar from $300.00 to $310.00 in a research report on Friday, May 1st. Guggenheim lowered their target price on First Solar from $312.00 to $269.00 and set a "buy" rating on the stock in a research report on Tuesday, March 17th. Freedom Capital upgraded First Solar from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, May 5th. Finally, Citigroup lowered their target price on First Solar from $300.00 to $243.00 and set a "buy" rating on the stock in a research report on Tuesday, April 21st. One investment analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, twelve have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $246.10.

First Solar Stock Performance

Shares of NASDAQ FSLR opened at $219.95 on Friday. The stock has a fifty day moving average price of $196.96 and a two-hundred day moving average price of $231.41. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.15 and a current ratio of 2.56. The firm has a market cap of $23.63 billion, a P/E ratio of 14.21, a PEG ratio of 0.49 and a beta of 1.57. First Solar, Inc. has a 1 year low of $133.75 and a 1 year high of $285.99.

First Solar (NASDAQ:FSLR - Get Free Report) last issued its quarterly earnings results on Thursday, April 30th. The solar cell manufacturer reported $3.22 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.87 by $0.35. The firm had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.03 billion. First Solar had a return on equity of 18.01% and a net margin of 30.73%.The firm's quarterly revenue was up 23.6% on a year-over-year basis. During the same period last year, the company posted $1.95 EPS. Research analysts forecast that First Solar, Inc. will post 17.58 EPS for the current fiscal year.

More First Solar News

Here are the key news stories impacting First Solar this week:

• Positive Sentiment: Freedom Capital upgraded First Solar from hold to strong-buy, adding to the bullish case for the stock. Read More
• Positive Sentiment: HSBC raised its price target on First Solar to $231, suggesting further upside from current levels. HSBC Increases First Solar NASDAQ: FSLR Price Target to $231.00
• Positive Sentiment: Barclays issued a buy rating on First Solar, and Susquehanna also reportedly gave the stock a buy rating, reinforcing the upbeat analyst tone. First Solar (FSLR) Gets a Buy from Barclays First Solar (FSLR) Receives a Buy from Susquehanna
• Positive Sentiment: Coverage highlighting “3 big reasons to love First Solar” and a Zacks note that FSLR is a trending stock may be helping keep investor attention on the name. First Solar, Inc. (FSLR) Is a Trending Stock: Facts to Know Before Betting on It
• Neutral Sentiment: First Solar CEO sold about $329,051 worth of stock, which can draw some investor caution but is not necessarily a fundamental change in the company’s outlook. Insider Selling: First Solar NASDAQ: FSLR CEO Sells $329,051.38 in Stock

Insider Activity

In other First Solar news, CEO Mark R. Widmar sold 7,738 shares of the stock in a transaction on Tuesday, March 3rd. The stock was sold at an average price of $195.93, for a total transaction of $1,516,106.34. Following the completion of the transaction, the chief executive officer directly owned 91,787 shares of the company's stock, valued at approximately $17,983,826.91. This trade represents a 7.77% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, General Counsel Jason E. Dymbort sold 9,022 shares of the firm's stock in a transaction on Tuesday, March 17th. The stock was sold at an average price of $199.62, for a total value of $1,800,971.64. Following the sale, the general counsel directly owned 9,850 shares of the company's stock, valued at approximately $1,966,257. This represents a 47.81% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 81,204 shares of company stock worth $16,043,186 in the last quarter. 0.39% of the stock is currently owned by corporate insiders.

First Solar Company Profile

First Solar, Inc NASDAQ: FSLR is a United States–based solar technology company best known for designing and manufacturing thin‑film photovoltaic (PV) modules that use cadmium telluride (CdTe) semiconductor technology. The company supplies PV modules and delivers integrated solar power solutions for utility‑scale projects, positioning itself as a provider of both components and complete solar energy systems rather than solely a parts supplier. First Solar was founded in 1999 and is headquartered in Tempe, Arizona.

Beyond module manufacturing, First Solar offers a range of project services including development support, engineering, procurement and construction (EPC) services, and operations and maintenance (O&M) for large-scale solar installations.

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