Nisa Investment Advisors LLC Lowers Stock Holdings in First Solar, Inc. (NASDAQ:FSLR)

Nisa Investment Advisors LLC reduced its position in shares of First Solar, Inc. (NASDAQ:FSLR - Free Report) by 25.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,422 shares of the solar cell manufacturer's stock after selling 1,499 shares during the period. Nisa Investment Advisors LLC's holdings in First Solar were worth $559,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in FSLR. Raymond James Financial Inc. purchased a new stake in shares of First Solar in the fourth quarter valued at approximately $4,933,000. Independent Advisor Alliance lifted its stake 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 in the last quarter. HighTower Advisors LLC raised its stake in shares of First Solar by 6.7% in the fourth quarter. HighTower Advisors LLC now owns 55,550 shares of the solar cell manufacturer's stock valued at $9,790,000 after acquiring an additional 3,502 shares in the last quarter. Sequoia Financial Advisors LLC increased its holdings in First Solar by 6.8% in the fourth quarter. Sequoia Financial Advisors LLC now owns 1,692 shares of the solar cell manufacturer's stock valued at $298,000 after buying an additional 107 shares during the last quarter. Finally, Farther Finance Advisors LLC grew its holdings in shares of First Solar by 14.1% during the fourth quarter. Farther Finance Advisors LLC now owns 687 shares of the solar cell manufacturer's stock worth $121,000 after buying an additional 85 shares during the last quarter. 92.08% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Oppenheimer lowered First Solar from an "outperform" rating to a "market perform" rating in a report on Wednesday, April 30th. Robert W. Baird dropped their price objective on First Solar from $267.00 to $240.00 and set an "outperform" rating for the company in a report on Tuesday, April 15th. Bank of America decreased their price target on shares of First Solar from $236.00 to $215.00 and set a "buy" rating for the company in a research report on Tuesday, April 8th. BMO Capital Markets decreased their price objective on shares of First Solar from $200.00 to $187.00 and set an "outperform" rating for the company in a research report on Wednesday, April 30th. Finally, Jefferies Financial Group set a $194.00 target price on shares of First Solar and gave the company a "buy" rating in a research note on Tuesday. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating, twenty-four have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $228.87.

Insider Activity at First Solar

In other First Solar news, insider Michael Koralewski sold 2,951 shares of the business's stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $158.21, for a total transaction of $466,877.71. Following the completion of the sale, the insider owned 11,369 shares in the company, valued at approximately $1,798,689.49. The trade was a 20.61% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CTO Markus Gloeckler sold 9,557 shares of the company's stock in a transaction on Wednesday, May 28th. The stock was sold at an average price of $155.05, for a total transaction of $1,481,812.85. Following the completion of the sale, the chief technology officer owned 8,037 shares of the company's stock, valued at approximately $1,246,136.85. The trade was a 54.32% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 15,976 shares of company stock worth $2,515,172 in the last quarter. Company insiders own 0.48% of the company's stock.

First Solar Price Performance

Shares of First Solar stock traded up $2.31 during midday trading on Friday, hitting $175.85. 2,610,358 shares of the company traded hands, compared to its average volume of 3,255,622. The stock has a market cap of $18.86 billion, a price-to-earnings ratio of 14.95, a PEG ratio of 0.34 and a beta of 1.52. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.39 and a current ratio of 1.93. The firm's fifty day moving average price is $163.98 and its 200-day moving average price is $153.89. 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 issued its quarterly earnings results on Tuesday, April 29th. The solar cell manufacturer reported $1.95 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.50 by ($0.55). First Solar had a return on equity of 16.32% and a net margin of 29.72%. The firm had revenue of $844.57 million during the quarter, compared to analyst estimates of $863.11 million. During the same quarter last year, the firm posted $2.20 EPS. The firm's revenue for the quarter was up 6.4% on a year-over-year basis. As a group, sell-side analysts forecast that First Solar, Inc. will post 13.05 earnings per share for the current 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.