First Solar, Inc. (NASDAQ:FSLR) Shares Sold by Wealthfront Advisers LLC

Wealthfront Advisers LLC cut its position in shares of First Solar, Inc. (NASDAQ:FSLR - Free Report) by 32.7% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,982 shares of the solar cell manufacturer's stock after selling 1,933 shares during the period. Wealthfront Advisers LLC's holdings in First Solar were worth $503,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of FSLR. Garde Capital Inc. purchased a new position in shares of First Solar during the first quarter worth $25,000. Banque Transatlantique SA purchased a new position in shares of First Solar during the fourth quarter worth about $53,000. CoreFirst Bank & Trust purchased a new position in shares of First Solar during the fourth quarter worth about $54,000. Abound Financial LLC purchased a new position in shares of First Solar during the first quarter worth about $45,000. Finally, Princeton Global Asset Management LLC purchased a new stake in First Solar in the 1st quarter valued at approximately $51,000. 92.08% of the stock is owned by institutional investors.

Insider Buying and Selling

In other First Solar news, insider Michael Koralewski sold 2,951 shares of the stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $158.21, for a total transaction of $466,877.71. Following the completion of the transaction, the insider owned 11,369 shares of the company's stock, valued at $1,798,689.49. This represents a 20.61% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Patrick James Buehler sold 1,868 shares of the firm's stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $149.08, for a total value of $278,481.44. Following the sale, the insider directly owned 5,998 shares of the company's stock, valued at approximately $894,181.84. This trade represents a 23.75% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 15,976 shares of company stock valued at $2,515,172. Corporate insiders own 0.48% of the company's stock.

First Solar Trading Up 0.9%

First Solar stock traded up $1.66 during mid-day trading on Tuesday, hitting $179.99. 1,943,397 shares of the stock were exchanged, compared to its average volume of 3,249,334. The firm's fifty day simple moving average is $163.98 and its two-hundred day simple moving average is $153.50. The stock has a market capitalization of $19.30 billion, a price-to-earnings ratio of 15.31, a PEG ratio of 0.34 and a beta of 1.52. The company has a quick ratio of 1.39, a current ratio of 1.93 and a debt-to-equity ratio of 0.04. First Solar, Inc. has a 12 month low of $116.56 and a 12 month high of $262.72.

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). The company 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 16.32% and a net margin of 29.72%. The firm's revenue for the quarter was up 6.4% on a year-over-year basis. During the same quarter last year, the company posted $2.20 earnings per share. Analysts forecast that First Solar, Inc. will post 13.05 EPS for the current year.

Wall Street Analyst Weigh In

FSLR has been the topic of several analyst reports. Glj Research upgraded shares of First Solar from a "hold" rating to a "buy" rating and set a $172.37 price target on the stock in a research note on Thursday, May 1st. Oppenheimer lowered shares of First Solar from an "outperform" rating to a "market perform" rating in a research report on Wednesday, April 30th. KeyCorp cut shares of First Solar from a "sector weight" rating to an "underweight" rating and set a $100.00 price objective for the company. in a report on Wednesday, April 30th. 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. Finally, TD Cowen dropped their price objective on shares of First Solar from $275.00 to $200.00 and set a "buy" rating on the stock in a research report on Wednesday, April 30th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, twenty-four have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $225.73.

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.