First Solar, Inc. $FSLR Shares Sold by Vanguard Group Inc.

Key Points

• Vanguard trimmed its stake in First Solar by 2.0% in Q4, selling 277,876 shares and now holds 13,444,103 shares (12.53%) valued at about $3.51 billion.
• First Solar missed quarterly EPS with $4.84 versus the $5.22 consensus while revenue rose to $1.68 billion; analysts' consensus rating is "Moderate Buy" with a target price of $243.49.
• Insiders have been net sellers, including recent sales by the CFO and CEO, with 76,562 shares sold in the last 90 days worth roughly $15.0 million and insiders now owning about 0.39% of the stock.

Vanguard Group Inc. lessened its stake in shares of First Solar, Inc. (NASDAQ:FSLR - Free Report) by 2.0% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 13,444,103 shares of the solar cell manufacturer's stock after selling 277,876 shares during the period. Vanguard Group Inc. owned 12.53% of First Solar worth $3,512,003,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of FSLR. Aventura Private Wealth LLC acquired a new stake in First Solar in the 4th quarter valued at about $25,000. Strategic Wealth Investment Group LLC acquired a new stake in First Solar in the 2nd quarter valued at about $26,000. Pinpoint Asset Management Singapore Pte. Ltd. acquired a new stake in First Solar in the 3rd quarter valued at about $44,000. NBT Bank N A NY raised its holdings in First Solar by 550.0% in the 3rd quarter. NBT Bank N A NY now owns 221 shares of the solar cell manufacturer's stock valued at $49,000 after acquiring an additional 187 shares during the last quarter. Finally, Mather Group LLC. acquired a new stake in First Solar in the 3rd quarter valued at about $52,000. Institutional investors and hedge funds own 92.08% of the company's stock.

First Solar Stock Performance

First Solar stock opened at $195.86 on Wednesday. The firm has a 50 day simple moving average of $200.05 and a 200-day simple moving average of $232.26. First Solar, Inc. has a 1-year low of $119.09 and a 1-year high of $285.99. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.67 and a quick ratio of 2.35. The stock has a market cap of $21.05 billion, a price-to-earnings ratio of 13.78, a price-to-earnings-growth ratio of 0.45 and a beta of 1.61.

First Solar (NASDAQ:FSLR - Get Free Report) last posted its quarterly earnings results on Tuesday, February 24th. The solar cell manufacturer reported $4.84 earnings per share for the quarter, missing the consensus estimate of $5.22 by ($0.38). First Solar had a net margin of 29.28% and a return on equity of 17.32%. The firm had revenue of $1.68 billion during the quarter, compared to analysts' expectations of $1.59 billion. During the same period last year, the company earned $3.65 EPS. The business's quarterly revenue was up 11.1% on a year-over-year basis. On average, analysts expect that First Solar, Inc. will post 17.37 EPS for the current year.

Analyst Ratings Changes

A number of research firms have commented on FSLR. Needham & Company LLC increased their price objective on shares of First Solar from $286.00 to $303.00 and gave the company a "buy" rating in a report on Monday, February 23rd. Raymond James Financial began coverage on shares of First Solar in a report on Monday, January 12th. They issued a "market perform" rating for the company. DZ Bank upgraded shares of First Solar to a "strong sell" rating in a report on Thursday, February 26th. Weiss Ratings reiterated a "hold (c+)" rating on shares of First Solar in a report on Friday, March 27th. Finally, Mizuho cut their price objective on shares of First Solar from $271.00 to $243.00 and set an "outperform" rating for the company in a report on Monday. Nineteen analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, First Solar presently has a consensus rating of "Moderate Buy" and a consensus target price of $243.49.

Insiders Place Their Bets

In other news, CFO Alexander R. Bradley sold 14,106 shares of the stock in a transaction that occurred on Tuesday, March 17th. The shares were sold at an average price of $199.97, for a total value of $2,820,776.82. Following the completion of the sale, the chief financial officer owned 30,000 shares of the company's stock, valued at $5,999,100. This represents a 31.98% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Mark R. Widmar sold 1,937 shares of the stock in a transaction that occurred on Monday, March 16th. The shares were sold at an average price of $200.80, for a total transaction of $388,949.60. Following the completion of the sale, the chief executive officer directly owned 102,798 shares of the company's stock, valued at approximately $20,641,838.40. This trade represents a 1.85% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 76,562 shares of company stock worth $15,042,232. 0.39% of the stock is currently owned by company insiders.

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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