First Hawaiian Bank Sells 1,874 Shares of First Solar, Inc. (NASDAQ:FSLR)

First Hawaiian Bank trimmed its position in First Solar, Inc. (NASDAQ:FSLR - Free Report) by 38.0% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 3,052 shares of the solar cell manufacturer's stock after selling 1,874 shares during the quarter. First Hawaiian Bank's holdings in First Solar were worth $386,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC raised its holdings in shares of First Solar by 3.8% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 6,134 shares of the solar cell manufacturer's stock valued at $1,081,000 after purchasing an additional 222 shares during the period. Lighthouse Financial LLC bought a new position in First Solar in the 4th quarter valued at about $363,000. Siemens Fonds Invest GmbH raised its holdings in First Solar by 147.9% in the 4th quarter. Siemens Fonds Invest GmbH now owns 2,749 shares of the solar cell manufacturer's stock valued at $484,000 after acquiring an additional 1,640 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in First Solar in the 4th quarter valued at about $43,442,000. Finally, Mackenzie Financial Corp raised its holdings in First Solar by 4.7% in the 4th quarter. Mackenzie Financial Corp now owns 16,276 shares of the solar cell manufacturer's stock valued at $2,868,000 after acquiring an additional 738 shares during the period. 92.08% of the stock is owned by institutional investors.

Insider Buying and Selling at First Solar

In other news, CEO Mark R. Widmar sold 1,272 shares of the firm's stock in a transaction on Friday, March 7th. The shares were sold at an average price of $132.96, for a total transaction of $169,125.12. Following the completion of the transaction, the chief executive officer now owns 109,000 shares of the company's stock, valued at approximately $14,492,640. This trade represents a 1.15% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Georges Antoun sold 229 shares of the firm's stock in a transaction on Monday, March 17th. The shares were sold at an average price of $133.75, for a total transaction of $30,628.75. Following the transaction, the insider now directly owns 52,836 shares of the company's stock, valued at $7,066,815. The trade was a 0.43% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 19,670 shares of company stock worth $2,933,884 over the last quarter. Corporate insiders own 0.48% of the company's stock.

Analyst Ratings Changes

Several research analysts have weighed in on FSLR shares. Morgan Stanley set a $223.00 price target on shares of First Solar and gave the company an "overweight" rating in a report on Wednesday, April 23rd. Piper Sandler lowered 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. Roth Mkm reissued a "buy" rating and issued a $280.00 price target on shares of First Solar in a report on Wednesday, February 26th. Citigroup lowered their price target on shares of First Solar from $254.00 to $236.00 and set a "neutral" rating on the stock in a report on Wednesday, February 26th. Finally, Bank of America lowered their price target on shares of First Solar from $236.00 to $215.00 and set a "buy" rating on the stock in a report on Tuesday, April 8th. Two analysts have rated the stock with a sell rating, five have given a hold rating, twenty-four have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $227.94.

First Solar Price Performance

Shares of NASDAQ FSLR traded up $4.03 during trading hours on Thursday, hitting $163.84. 3,602,557 shares of the stock were exchanged, compared to its average volume of 3,065,584. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.44 and a current ratio of 2.14. The company has a market cap of $17.57 billion, a PE ratio of 14.11, a price-to-earnings-growth ratio of 0.19 and a beta of 1.46. The company's fifty day simple moving average is $143.19 and its two-hundred day simple moving average is $159.79. First Solar, Inc. has a 1-year low of $116.56 and a 1-year high of $306.77.

First Solar (NASDAQ:FSLR - Get Free Report) last issued 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 net margin of 32.41% and a return on equity of 17.56%. The company had revenue of $844.57 million during the quarter, compared to analyst estimates of $863.11 million. During the same quarter in the prior year, the business earned $2.20 EPS. The business's quarterly revenue was up 6.4% on a year-over-year basis. On average, sell-side analysts predict that First Solar, Inc. will post 13.05 EPS for the current year.

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.