Natixis Advisors LLC cut its stake in First Solar, Inc. (NASDAQ:FSLR - Free Report) by 43.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 42,442 shares of the solar cell manufacturer's stock after selling 32,361 shares during the period. Natixis Advisors LLC's holdings in First Solar were worth $5,366,000 at the end of the most recent quarter.
A number of other institutional investors have also recently modified their holdings of the stock. Invesco Ltd. lifted its position in First Solar by 13.9% during the fourth quarter. Invesco Ltd. now owns 1,835,056 shares of the solar cell manufacturer's stock worth $323,410,000 after purchasing an additional 223,933 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its position in shares of First Solar by 8.6% during the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 1,748,603 shares of the solar cell manufacturer's stock worth $308,174,000 after acquiring an additional 137,901 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in First Solar by 9.0% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,450,914 shares of the solar cell manufacturer's stock valued at $255,709,000 after acquiring an additional 120,239 shares during the last quarter. Dimensional Fund Advisors LP raised its position in First Solar by 26.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,249,600 shares of the solar cell manufacturer's stock valued at $220,250,000 after purchasing an additional 261,480 shares in the last quarter. Finally, Northern Trust Corp lifted its stake in First Solar by 30.7% during the fourth quarter. Northern Trust Corp now owns 1,248,552 shares of the solar cell manufacturer's stock worth $220,045,000 after purchasing an additional 293,134 shares during the last quarter. 92.08% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
FSLR has been the subject of a number of research analyst reports. Bank of America boosted their price target on First Solar from $185.00 to $201.00 and gave the stock a "buy" rating in a report on Tuesday, July 22nd. 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. BMO Capital Markets upped their price objective on shares of First Solar from $194.00 to $203.00 and gave the stock an "outperform" rating in a research report on Friday, August 1st. Wolfe Research raised shares of First Solar from a "peer perform" rating to an "outperform" rating and set a $221.00 target price on the stock in a research note on Tuesday, May 13th. Finally, TD Cowen increased their price target on First Solar from $200.00 to $220.00 and gave the company a "buy" rating in a research note on Friday, August 1st. One analyst has rated the stock with a sell rating, five have assigned a hold rating, twenty-three have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, First Solar has an average rating of "Moderate Buy" and a consensus price target of $222.67.
Check Out Our Latest Analysis on First Solar
First Solar Stock Down 1.0%
NASDAQ:FSLR traded down $1.83 during trading hours on Wednesday, hitting $185.01. 1,757,357 shares of the company traded hands, compared to its average volume of 2,724,340. First Solar, Inc. has a one year low of $116.56 and a one year high of $262.72. The company has a quick ratio of 1.41, a current ratio of 1.90 and a debt-to-equity ratio of 0.04. The company has a market cap of $19.84 billion, a PE ratio of 15.83, a PEG ratio of 0.37 and a beta of 1.48. The firm's 50-day simple moving average is $166.93 and its 200-day simple moving average is $153.07.
First Solar (NASDAQ:FSLR - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The solar cell manufacturer reported $3.18 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.68 by $0.50. The business had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.03 billion. First Solar had a net margin of 28.95% and a return on equity of 15.57%. The firm's quarterly revenue was up 8.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.25 EPS. Equities analysts predict that First Solar, Inc. will post 13.05 earnings per share for the current year.
Insider Activity
In other First Solar news, CTO Markus Gloeckler sold 9,557 shares of the business's stock in a transaction dated Wednesday, May 28th. The shares were sold at an average price of $155.05, for a total value of $1,481,812.85. Following the transaction, the chief technology officer directly owned 8,037 shares in the company, valued at $1,246,136.85. The trade was a 54.32% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Patrick James Buehler sold 1,600 shares of the firm's stock in a transaction that occurred on Thursday, July 3rd. The stock was sold at an average price of $180.00, for a total transaction of $288,000.00. Following the sale, the insider owned 4,398 shares of the company's stock, valued at approximately $791,640. The trade was a 26.68% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 15,976 shares of company stock valued at $2,515,172 in the last ninety days. 0.48% of the stock is currently owned by insiders.
First Solar Profile
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Free Report)
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.
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