First Solar, Inc. (NASDAQ:FSLR) Shares Sold by National Bank of Canada FI

National Bank of Canada FI lessened its stake in First Solar, Inc. (NASDAQ:FSLR - Free Report) by 4.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 74,953 shares of the solar cell manufacturer's stock after selling 3,511 shares during the period. National Bank of Canada FI owned 0.07% of First Solar worth $9,476,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the stock. AMF Tjanstepension AB purchased a new position in First Solar in the 1st quarter worth about $9,067,000. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in First Solar by 23.4% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 198,397 shares of the solar cell manufacturer's stock worth $25,083,000 after acquiring an additional 37,674 shares in the last quarter. Y.D. More Investments Ltd grew its holdings in First Solar by 383.6% during the 1st quarter. Y.D. More Investments Ltd now owns 8,101 shares of the solar cell manufacturer's stock worth $1,024,000 after acquiring an additional 6,426 shares in the last quarter. Altfest L J & Co. Inc. grew its holdings in First Solar by 12.3% during the 1st quarter. Altfest L J & Co. Inc. now owns 5,453 shares of the solar cell manufacturer's stock worth $689,000 after acquiring an additional 598 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in First Solar by 4.2% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 805,798 shares of the solar cell manufacturer's stock worth $101,877,000 after acquiring an additional 32,506 shares in the last quarter. Hedge funds and other institutional investors own 92.08% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on FSLR. Morgan Stanley set a $223.00 target price on shares of First Solar and gave the stock an "overweight" rating in a report on Wednesday, April 23rd. Hsbc Global Res upgraded shares of First Solar to a "strong-buy" rating in a research note on Friday, August 1st. Susquehanna lifted their target price on shares of First Solar from $203.00 to $222.00 and gave the stock a "positive" rating in a research note on Friday, August 1st. Wells Fargo & Company lowered their target price on shares of First Solar from $191.00 to $177.00 and set an "overweight" rating for the company in a research note on Wednesday, April 30th. Finally, UBS Group reissued a "buy" rating and set a $275.00 price target (up from $255.00) on shares of First Solar in a research report on Tuesday, August 5th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, twenty-two have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $222.44.

Insider Activity

In related news, CTO Markus Gloeckler sold 9,557 shares of the company's stock in a transaction that occurred 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 directly owned 8,037 shares in the company, valued at approximately $1,246,136.85. This represents a 54.32% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Michael Koralewski sold 2,951 shares of the company's 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 sale, the insider owned 11,369 shares in the company, valued at $1,798,689.49. The trade was a 20.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 43,684 shares of company stock valued at $7,660,704 over the last three months. 0.48% of the stock is currently owned by corporate insiders.

First Solar Stock Up 11.1%

Shares of FSLR traded up $19.90 during mid-day trading on Friday, hitting $199.95. 10,927,711 shares of the company's stock were exchanged, compared to its average volume of 2,393,773. The company has a market cap of $21.44 billion, a price-to-earnings ratio of 17.10, a P/E/G ratio of 0.39 and a beta of 1.48. First Solar, Inc. has a fifty-two week low of $116.56 and a fifty-two week high of $262.72. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.41 and a current ratio of 1.90. The stock's 50-day moving average is $171.26 and its 200-day moving average is $153.81.

First Solar (NASDAQ:FSLR - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The solar cell manufacturer reported $3.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.68 by $0.50. First Solar had a net margin of 28.95% and a return on equity of 15.57%. The business had revenue of $1.10 billion for the quarter, compared to analysts' expectations of $1.03 billion. During the same quarter in the prior year, the company earned $3.25 earnings per share. The business's quarterly revenue was up 8.6% on a year-over-year basis. On average, sell-side analysts anticipate that First Solar, Inc. will post 13.05 earnings per share for the current fiscal year.

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.