First Solar, Inc. $FSLR Shares Sold by New Age Alpha Advisors LLC

Key Points

• New Age Alpha Advisors cut its First Solar stake by 57.8% in the fourth quarter, selling 16,082 shares and leaving it with 11,724 shares valued at about $3.06 million.
• Insiders have also been selling: over the last 90 days, corporate insiders sold 97,827 shares worth roughly $20.0 million, including recent sales by Kuntal Kumar Verma and CFO Alexander R. Bradley.
• First Solar’s business results remain strong, with Q1 earnings of $3.22 per share beating expectations and revenue rising 23.6% year over year; the stock was also up 4.7% to $269.95 and analysts currently rate it a “Moderate Buy.”

New Age Alpha Advisors LLC cut its position in First Solar, Inc. (NASDAQ:FSLR - Free Report) by 57.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,724 shares of the solar cell manufacturer's stock after selling 16,082 shares during the quarter. New Age Alpha Advisors LLC's holdings in First Solar were worth $3,063,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of the company. Vanguard Group Inc. grew its stake in shares of First Solar by 3.5% in the third quarter. Vanguard Group Inc. now owns 13,721,979 shares of the solar cell manufacturer's stock valued at $3,026,108,000 after buying an additional 464,130 shares in the last quarter. Viking Global Investors LP grew its stake in shares of First Solar by 60.6% in the second quarter. Viking Global Investors LP now owns 2,266,050 shares of the solar cell manufacturer's stock valued at $375,122,000 after buying an additional 854,919 shares in the last quarter. Amundi grew its stake in shares of First Solar by 38.6% in the third quarter. Amundi now owns 2,025,835 shares of the solar cell manufacturer's stock valued at $459,917,000 after buying an additional 564,032 shares in the last quarter. Northern Trust Corp grew its stake in shares of First Solar by 2.6% in the third quarter. Northern Trust Corp now owns 1,349,531 shares of the solar cell manufacturer's stock valued at $297,612,000 after buying an additional 34,313 shares in the last quarter. Finally, Clean Energy Transition LLP grew its stake in shares of First Solar by 48.2% in the third quarter. Clean Energy Transition LLP now owns 1,117,228 shares of the solar cell manufacturer's stock valued at $246,382,000 after buying an additional 363,274 shares in the last quarter. 92.08% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other First Solar news, insider Kuntal Kumar Verma sold 582 shares of the firm's stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $250.00, for a total value of $145,500.00. Following the sale, the insider directly owned 4,967 shares in the company, valued at $1,241,750. This trade represents a 10.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Alexander R. Bradley sold 498 shares of the firm's stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $215.63, for a total value of $107,383.74. Following the completion of the sale, the chief financial officer owned 30,712 shares in the company, valued at approximately $6,622,428.56. This represents a 1.60% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 97,827 shares of company stock valued at $20,006,930 over the last 90 days. 0.39% of the stock is currently owned by corporate insiders.

First Solar Stock Up 4.7%

Shares of NASDAQ FSLR opened at $269.95 on Wednesday. The stock has a market cap of $29.01 billion, a P/E ratio of 17.44, a PEG ratio of 0.57 and a beta of 1.57. The company has a current ratio of 2.56, a quick ratio of 2.15 and a debt-to-equity ratio of 0.02. First Solar, Inc. has a 12-month low of $135.50 and a 12-month high of $285.99. The business's fifty day simple moving average is $207.72 and its 200-day simple moving average is $230.87.

First Solar (NASDAQ:FSLR - Get Free Report) last posted its quarterly earnings results on Thursday, April 30th. The solar cell manufacturer reported $3.22 earnings per share for the quarter, beating analysts' consensus estimates of $2.87 by $0.35. First Solar had a return on equity of 18.01% and a net margin of 30.73%.The company had revenue of $1.04 billion for the quarter, compared to analysts' expectations of $1.03 billion. During the same period last year, the firm earned $1.95 earnings per share. First Solar's quarterly revenue was up 23.6% on a year-over-year basis. As a group, equities analysts predict that First Solar, Inc. will post 17.64 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the company. Susquehanna reduced their price objective on First Solar from $280.00 to $250.00 and set a "positive" rating on the stock in a research note on Thursday, April 9th. DZ Bank upgraded First Solar to a "strong sell" rating in a research note on Thursday, February 26th. HSBC increased their price objective on First Solar from $211.00 to $231.00 and gave the company a "hold" rating in a research note on Tuesday, May 5th. Needham & Company LLC increased their price objective on First Solar from $286.00 to $303.00 and gave the company a "buy" rating in a research note on Monday, February 23rd. Finally, Citigroup reduced their price objective on First Solar from $300.00 to $243.00 and set a "buy" rating on the stock in a research note on Tuesday, April 21st. One 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 assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $247.40.

About First Solar

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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