Ulysses Management LLC Sells 3,500 Shares of First Solar, Inc. (NASDAQ:FSLR)

Ulysses Management LLC lessened its position in shares of First Solar, Inc. (NASDAQ:FSLR - Free Report) by 58.3% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,500 shares of the solar cell manufacturer's stock after selling 3,500 shares during the quarter. Ulysses Management LLC's holdings in First Solar were worth $441,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in First Solar by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 12,821,701 shares of the solar cell manufacturer's stock valued at $2,259,697,000 after acquiring an additional 120,289 shares during the last quarter. Geode Capital Management LLC raised its holdings in First Solar by 2.4% during the fourth quarter. Geode Capital Management LLC now owns 2,666,242 shares of the solar cell manufacturer's stock worth $469,154,000 after purchasing an additional 63,739 shares in the last quarter. Wellington Management Group LLP grew its position in First Solar by 12.5% during the fourth quarter. Wellington Management Group LLP now owns 2,359,846 shares of the solar cell manufacturer's stock worth $415,899,000 after buying an additional 262,482 shares during the period. Invesco Ltd. grew its position in First Solar by 13.9% during the fourth quarter. Invesco Ltd. now owns 1,835,056 shares of the solar cell manufacturer's stock worth $323,410,000 after buying an additional 223,933 shares during the period. Finally, Amundi grew its position in First Solar by 31.0% during the fourth quarter. Amundi now owns 1,805,244 shares of the solar cell manufacturer's stock worth $336,871,000 after buying an additional 426,797 shares during the period. Institutional investors and hedge funds own 92.08% of the company's stock.

Insider Activity at First Solar

In other news, CEO Mark R. Widmar sold 21,542 shares of the firm's stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $141.09, for a total transaction of $3,039,360.78. Following the completion of the transaction, the chief executive officer now directly owns 103,403 shares of the company's stock, valued at $14,589,129.27. This trade represents a 17.24% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Alexander R. Bradley sold 599 shares of the firm's stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $133.75, for a total transaction of $80,116.25. Following the transaction, the chief financial officer now directly owns 45,717 shares of the company's stock, valued at $6,114,648.75. This represents a 1.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 34,311 shares of company stock worth $4,767,158 in the last ninety days. Company insiders own 0.48% of the company's stock.

First Solar Trading Up 1.3%

First Solar stock traded up $2.03 during trading hours on Friday, reaching $158.38. 3,560,103 shares of the company's stock traded hands, compared to its average volume of 3,066,201. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.44 and a current ratio of 2.14. First Solar, Inc. has a fifty-two week low of $116.56 and a fifty-two week high of $306.77. The firm has a market capitalization of $16.99 billion, a price-to-earnings ratio of 13.64, a PEG ratio of 0.19 and a beta of 1.46. The firm's 50 day moving average is $137.94 and its 200-day moving average is $161.67.

First Solar (NASDAQ:FSLR - Get Free Report) last released its earnings results on Tuesday, April 29th. The solar cell manufacturer reported $1.95 earnings per share (EPS) 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 business had revenue of $844.57 million for the quarter, compared to analyst estimates of $863.11 million. During the same quarter in the previous year, the company posted $2.20 earnings per share. The business's revenue for the quarter was up 6.4% on a year-over-year basis. On average, analysts predict that First Solar, Inc. will post 13.05 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Guggenheim lowered their price target on shares of First Solar from $253.00 to $202.00 and set a "buy" rating on the stock in a research report on Thursday, May 1st. Bank of America reduced their price objective on shares of First Solar from $236.00 to $215.00 and set a "buy" rating on the stock in a research note on Tuesday, April 8th. Morgan Stanley set a $223.00 target price on shares of First Solar and gave the company an "overweight" rating in a research note on Wednesday, April 23rd. Wolfe Research raised shares of First Solar from a "peer perform" rating to an "outperform" rating and set a $221.00 price target for the company in a report on Tuesday, May 13th. Finally, UBS Group reissued a "buy" rating and set a $255.00 price objective on shares of First Solar in a report on Wednesday, May 14th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating, twenty-four have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $227.37.

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.