Union Bancaire Privee UBP SA Sells 5,666 Shares of First Solar, Inc. (NASDAQ:FSLR)

Union Bancaire Privee UBP SA trimmed its position in First Solar, Inc. (NASDAQ:FSLR - Free Report) by 67.3% in the first quarter, according to its most recent filing with the SEC. The fund owned 2,756 shares of the solar cell manufacturer's stock after selling 5,666 shares during the period. Union Bancaire Privee UBP SA's holdings in First Solar were worth $325,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Smartleaf Asset Management LLC increased its holdings in First Solar by 31.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 262 shares of the solar cell manufacturer's stock valued at $47,000 after purchasing an additional 63 shares during the period. Princeton Global Asset Management LLC acquired a new stake in shares of First Solar in the first quarter valued at about $51,000. Hudson Edge Investment Partners Inc. bought a new position in shares of First Solar during the fourth quarter worth about $53,000. Banque Transatlantique SA bought a new position in shares of First Solar during the fourth quarter worth about $53,000. Finally, CoreFirst Bank & Trust acquired a new position in shares of First Solar in the fourth quarter worth approximately $54,000. Institutional investors and hedge funds own 92.08% of the company's stock.

First Solar Stock Performance

Shares of First Solar stock traded up $7.37 during mid-day trading on Friday, hitting $175.20. 4,464,949 shares of the stock were exchanged, compared to its average volume of 3,063,106. The company has a market capitalization of $18.79 billion, a P/E ratio of 15.09, a P/E/G ratio of 0.19 and a beta of 1.53. 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 50-day simple moving average of $147.77 and a 200 day simple moving average of $158.93. First Solar, Inc. has a 12 month low of $116.56 and a 12 month high of $290.90.

First Solar (NASDAQ:FSLR - Get Free Report) last posted its quarterly earnings data on Tuesday, April 29th. The solar cell manufacturer reported $1.95 earnings per share for the quarter, missing the consensus estimate of $2.50 by ($0.55). First Solar had a return on equity of 17.56% and a net margin of 32.41%. The business had revenue of $844.57 million during the quarter, compared to analysts' expectations of $863.11 million. During the same period in the prior year, the firm posted $2.20 EPS. The firm's revenue for the quarter was up 6.4% on a year-over-year basis. Sell-side analysts anticipate that First Solar, Inc. will post 13.05 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Patrick James Buehler sold 1,868 shares of the company's stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $149.08, for a total transaction of $278,481.44. Following the sale, the insider now directly owns 5,998 shares in the company, valued at approximately $894,181.84. This represents a 23.75% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CTO Markus Gloeckler sold 9,557 shares of the business's stock in a transaction on Wednesday, May 28th. The shares were sold at an average price of $155.05, for a total transaction of $1,481,812.85. Following the sale, the chief technology officer now directly owns 8,037 shares in the company, valued at $1,246,136.85. The trade was a 54.32% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 17,948 shares of company stock worth $2,704,927. Insiders own 0.48% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. Robert W. Baird lowered their price target on shares of First Solar from $267.00 to $240.00 and set an "outperform" rating for the company in a report on Tuesday, April 15th. Morgan Stanley set a $223.00 target price on shares of First Solar and gave the stock an "overweight" rating in a research note on Wednesday, April 23rd. Piper Sandler cut 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. Guggenheim lowered their price objective on First Solar from $253.00 to $202.00 and set a "buy" rating for the company in a research report on Thursday, May 1st. Finally, Wells Fargo & Company dropped their price objective on First Solar from $191.00 to $177.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 30th. Two analysts have rated the stock with a sell rating, four have given a hold rating, twenty-five have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $229.19.

About First Solar

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.