First Solar, Inc. (NASDAQ:FSLR) Shares Sold by Ulysses Management LLC

Ulysses Management LLC trimmed its position in shares of First Solar, Inc. (NASDAQ:FSLR - Free Report) by 58.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,500 shares of the solar cell manufacturer's stock after selling 3,500 shares during the period. Ulysses Management LLC's holdings in First Solar were worth $441,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in FSLR. Woodline Partners LP acquired a new stake in shares of First Solar during the fourth quarter valued at about $1,133,000. Vident Advisory LLC grew its stake in shares of First Solar by 24.7% during the fourth quarter. Vident Advisory LLC now owns 3,324 shares of the solar cell manufacturer's stock valued at $586,000 after acquiring an additional 658 shares in the last quarter. Twinbeech Capital LP acquired a new stake in shares of First Solar during the fourth quarter valued at about $1,373,000. Tairen Capital Ltd grew its stake in shares of First Solar by 150.0% during the fourth quarter. Tairen Capital Ltd now owns 25,000 shares of the solar cell manufacturer's stock valued at $4,406,000 after acquiring an additional 15,000 shares in the last quarter. Finally, Siemens Fonds Invest GmbH grew its stake in shares of First Solar by 147.9% during the fourth 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 in the last quarter. 92.08% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on FSLR. Roth Mkm restated a "buy" rating and set a $280.00 target price on shares of First Solar in a research note on Wednesday, February 26th. JPMorgan Chase & Co. reduced their price target on shares of First Solar from $282.00 to $268.00 and set an "overweight" rating on the stock in a research report on Wednesday, February 26th. Piper Sandler reduced their price target on shares of First Solar from $230.00 to $205.00 and set an "overweight" rating on the stock in a research report on Monday, April 21st. Mizuho raised shares of First Solar from a "neutral" rating to an "outperform" rating and increased their price target for the stock from $218.00 to $259.00 in a research report on Tuesday, February 11th. Finally, Morgan Stanley set a $223.00 price target on shares of First Solar and gave the stock an "overweight" rating in a research report on Wednesday, April 23rd. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating, twenty-four have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $226.30.

Insiders Place Their Bets

In related news, CEO Mark R. Widmar sold 21,542 shares of the stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $141.09, for a total value of $3,039,360.78. Following the transaction, the chief executive officer now directly owns 103,403 shares in the company, valued at $14,589,129.27. This represents a 17.24% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Georges Antoun sold 229 shares of the stock in a transaction that occurred 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 completion of the transaction, the insider now owns 52,836 shares in the company, valued at $7,066,815. This represents a 0.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 34,311 shares of company stock valued at $4,767,158. 0.48% of the stock is currently owned by insiders.

First Solar Trading Down 7.6%

Shares of NASDAQ:FSLR opened at $164.92 on Tuesday. The company has a quick ratio of 1.44, a current ratio of 2.14 and a debt-to-equity ratio of 0.05. First Solar, Inc. has a 12-month low of $116.56 and a 12-month high of $306.77. The firm has a fifty day moving average of $135.55 and a two-hundred day moving average of $162.64. The firm has a market capitalization of $17.69 billion, a P/E ratio of 14.21, a price-to-earnings-growth ratio of 0.19 and a beta of 1.46.

First Solar (NASDAQ:FSLR - Get Free Report) last announced its earnings results on Tuesday, April 29th. The solar cell manufacturer reported $1.95 EPS for the quarter, missing the consensus estimate of $2.50 by ($0.55). The firm had revenue of $844.57 million during the quarter, compared to the consensus estimate of $863.11 million. First Solar had a return on equity of 17.56% and a net margin of 32.41%. The business's revenue was up 6.4% compared to the same quarter last year. During the same quarter last year, the business earned $2.20 EPS. On average, equities analysts expect that First Solar, Inc. will post 13.05 EPS for the current fiscal year.

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.

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