Integrated Advisors Network LLC Sells 4,616 Shares of First Solar, Inc. (NASDAQ:FSLR)

Integrated Advisors Network LLC trimmed its holdings in shares of First Solar, Inc. (NASDAQ:FSLR - Free Report) by 63.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,623 shares of the solar cell manufacturer's stock after selling 4,616 shares during the period. Integrated Advisors Network LLC's holdings in First Solar were worth $462,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of FSLR. Smartleaf Asset Management LLC boosted its stake in shares of First Solar by 31.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 262 shares of the solar cell manufacturer's stock worth $47,000 after acquiring an additional 63 shares during the period. Independent Advisor Alliance boosted its position in First Solar by 3.1% during the fourth quarter. Independent Advisor Alliance now owns 2,090 shares of the solar cell manufacturer's stock worth $368,000 after purchasing an additional 63 shares during the period. Huntington National Bank boosted its position in First Solar by 15.3% during the fourth quarter. Huntington National Bank now owns 511 shares of the solar cell manufacturer's stock worth $90,000 after purchasing an additional 68 shares during the period. Evexia Wealth LLC boosted its position in First Solar by 2.1% during the fourth quarter. Evexia Wealth LLC now owns 3,481 shares of the solar cell manufacturer's stock worth $586,000 after purchasing an additional 70 shares during the period. Finally, Mutual Advisors LLC boosted its position in First Solar by 5.3% during the fourth quarter. Mutual Advisors LLC now owns 1,463 shares of the solar cell manufacturer's stock worth $279,000 after purchasing an additional 73 shares during the period. 92.08% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other First Solar news, CTO Markus Gloeckler sold 9,557 shares of the business's stock in a transaction on Wednesday, May 28th. The stock was sold at an average price of $155.05, for a total value of $1,481,812.85. Following the transaction, the chief technology officer now owns 8,037 shares of the company's stock, valued at approximately $1,246,136.85. The trade was a 54.32% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Kuntal Kumar Verma sold 419 shares of the business's stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $132.96, for a total transaction of $55,710.24. Following the completion of the transaction, the insider now directly owns 4,695 shares in the company, valued at $624,247.20. This trade represents a 8.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 14,851 shares of company stock valued at $2,188,525 in the last three months. 0.48% of the stock is currently owned by insiders.

First Solar Trading Up 2.1%

Shares of FSLR stock traded up $3.33 during trading hours on Friday, hitting $159.28. 5,254,911 shares of the company's stock traded hands, compared to its average volume of 3,050,574. First Solar, Inc. has a 12 month low of $116.56 and a 12 month high of $306.77. The stock's 50 day simple moving average is $140.67 and its 200 day simple moving average is $160.30. The stock has a market cap of $17.08 billion, a PE ratio of 13.72, a price-to-earnings-growth ratio of 0.19 and a beta of 1.46. 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 (NASDAQ:FSLR - Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The solar cell manufacturer reported $1.95 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 the consensus estimate of $863.11 million. During the same quarter last year, the firm posted $2.20 EPS. The business's revenue for the quarter was up 6.4% compared to the same quarter last year. On average, sell-side analysts anticipate that First Solar, Inc. will post 13.05 EPS for the current year.

Analyst Ratings Changes

FSLR has been the subject of several research analyst reports. BMO Capital Markets reduced their target price on shares of First Solar from $200.00 to $187.00 and set an "outperform" rating for the company in a report on Wednesday, April 30th. Jefferies Financial Group restated a "hold" rating and set a $157.00 price objective (up previously from $127.00) on shares of First Solar in a report on Thursday, May 22nd. Glj Research upgraded First Solar from a "hold" rating to a "buy" rating and set a $172.37 price objective for the company in a report on Thursday, May 1st. Redburn Atlantic started coverage on First Solar in a research note on Monday, March 3rd. They issued a "neutral" rating for the company. Finally, Deutsche Bank Aktiengesellschaft set a $265.00 price target on First Solar in a research note on Thursday, February 27th. Two analysts have rated the stock with a sell rating, five have issued a hold rating, twenty-four have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, First Solar has a consensus rating of "Moderate Buy" and an average price target of $227.37.

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.