Mn Services Vermogensbeheer B.V. Sells 2,800 Shares of First Solar, Inc. (NASDAQ:FSLR)

Mn Services Vermogensbeheer B.V. lessened its holdings in First Solar, Inc. (NASDAQ:FSLR - Free Report) by 7.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 36,700 shares of the solar cell manufacturer's stock after selling 2,800 shares during the quarter. Mn Services Vermogensbeheer B.V.'s holdings in First Solar were worth $4,640,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in FSLR. Smartleaf Asset Management LLC lifted its position in 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 buying an additional 63 shares in the last quarter. Princeton Global Asset Management LLC bought a new stake in First Solar during the first quarter worth about $51,000. Hudson Edge Investment Partners Inc. bought a new stake in First Solar during the fourth quarter worth about $53,000. Banque Transatlantique SA acquired a new position in First Solar during the fourth quarter valued at approximately $53,000. Finally, CoreFirst Bank & Trust bought a new position in First Solar in the fourth quarter valued at approximately $54,000. Institutional investors and hedge funds own 92.08% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on FSLR. Susquehanna dropped their price objective on First Solar from $223.00 to $217.00 and set a "positive" rating on the stock in a research note on Monday, April 14th. Jefferies Financial Group raised shares of First Solar from a "hold" rating to a "buy" rating and upped their price target for the stock from $157.00 to $192.00 in a research report on Wednesday, June 11th. TD Cowen cut their price target on shares of First Solar from $275.00 to $200.00 and set a "buy" rating for the company in a research note on Wednesday, April 30th. Citigroup lowered their price objective on shares of First Solar from $254.00 to $236.00 and set a "neutral" rating on the stock in a research note on Wednesday, February 26th. Finally, Roth Mkm reiterated a "buy" rating and issued a $280.00 target price on shares of First Solar in a research note on Wednesday, February 26th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating, twenty-five have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $229.19.

First Solar Price Performance

NASDAQ FSLR traded down $0.23 during midday trading on Thursday, hitting $143.67. The company had a trading volume of 7,587,328 shares, compared to its average volume of 3,150,870. The firm has a 50-day moving average price of $149.44 and a 200-day moving average price of $158.09. The company has a market capitalization of $15.41 billion, a PE ratio of 12.22, a P/E/G ratio of 0.29 and a beta of 1.53. The company has a current ratio of 1.93, a quick ratio of 1.39 and a debt-to-equity ratio of 0.04. First Solar, Inc. has a twelve month low of $116.56 and a twelve month high of $268.12.

First Solar (NASDAQ:FSLR - Get Free Report) last posted 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 29.72% and a return on equity of 16.32%. The company had revenue of $844.57 million during the quarter, compared to analyst estimates of $863.11 million. During the same period last year, the firm earned $2.20 EPS. The firm's revenue for the quarter was up 6.4% compared to the same quarter last year. As a group, analysts anticipate that First Solar, Inc. will post 13.05 earnings per share for the current fiscal year.

Insider Transactions at First Solar

In other news, insider Michael Koralewski sold 2,951 shares of First Solar stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $158.21, for a total value of $466,877.71. Following the transaction, the insider now owns 11,369 shares in the company, valued at approximately $1,798,689.49. This trade represents a 20.61% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, 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 directly owns 8,037 shares of the company's stock, valued at $1,246,136.85. This trade represents a 54.32% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 14,376 shares of company stock valued at $2,227,172. Company insiders own 0.48% of the company's stock.

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.