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Optimum Investment Advisors Sells 2,431 Shares of First Solar, Inc. (NASDAQ:FSLR)

First Solar logo with Energy background

Optimum Investment Advisors lessened its stake in shares of First Solar, Inc. (NASDAQ:FSLR - Free Report) by 73.5% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 875 shares of the solar cell manufacturer's stock after selling 2,431 shares during the quarter. Optimum Investment Advisors' holdings in First Solar were worth $111,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in FSLR. Norges Bank bought a new stake in shares of First Solar during the 4th quarter worth about $317,399,000. Demars Financial Group LLC boosted its stake in First Solar by 17,404.5% during the 4th quarter. Demars Financial Group LLC now owns 722,760 shares of the solar cell manufacturer's stock valued at $127,379,000 after purchasing an additional 718,631 shares during the period. Mirova US LLC boosted its stake in First Solar by 961.0% during the 4th quarter. Mirova US LLC now owns 646,310 shares of the solar cell manufacturer's stock valued at $113,906,000 after purchasing an additional 585,394 shares during the period. Royal Bank of Canada boosted its stake in First Solar by 218.6% during the 4th quarter. Royal Bank of Canada now owns 446,799 shares of the solar cell manufacturer's stock valued at $78,744,000 after purchasing an additional 306,581 shares during the period. Finally, Northern Trust Corp boosted its stake in First Solar by 30.7% during the 4th quarter. Northern Trust Corp now owns 1,248,552 shares of the solar cell manufacturer's stock valued at $220,045,000 after purchasing an additional 293,134 shares during the period. Institutional investors own 92.08% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on FSLR. Barclays decreased their target price on First Solar from $236.00 to $204.00 and set an "overweight" rating for the company in a research note on Friday, April 11th. Guggenheim decreased their target price on First Solar from $253.00 to $202.00 and set a "buy" rating for the company in a research note on Thursday, May 1st. Piper Sandler decreased their target price on First Solar from $230.00 to $205.00 and set an "overweight" rating for the company in a research note on Monday, April 21st. BMO Capital Markets decreased their target price on First Solar from $200.00 to $187.00 and set an "outperform" rating for the company in a research note on Wednesday, April 30th. Finally, The Goldman Sachs Group upped their price target on First Solar from $204.00 to $255.00 and gave the company a "buy" rating in a report on Monday, May 19th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating, twenty-four have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $228.69.

Check Out Our Latest Report on First Solar

Insider Transactions at First Solar

In other news, CTO Markus Gloeckler sold 9,557 shares of the 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 sale, the chief technology officer 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Michael Koralewski sold 2,951 shares of the 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 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 position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 15,976 shares of company stock worth $2,515,172. Insiders own 0.48% of the company's stock.

First Solar Price Performance

First Solar stock traded down $2.65 on Friday, reaching $162.44. The company's stock had a trading volume of 2,136,077 shares, compared to its average volume of 3,265,946. The business's fifty day moving average price is $160.16 and its 200 day moving average price is $154.07. 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 company has a market cap of $17.42 billion, a price-to-earnings ratio of 13.81, a PEG ratio of 0.32 and a beta of 1.52. First Solar, Inc. has a twelve month low of $116.56 and a twelve month high of $262.72.

First Solar (NASDAQ:FSLR - Get Free Report) last announced its earnings results on Tuesday, April 29th. The solar cell manufacturer reported $1.95 EPS for the quarter, missing the consensus estimate of $2.50 by ($0.55). The business had revenue of $844.57 million for the quarter, compared to the consensus estimate of $863.11 million. First Solar had a return on equity of 16.32% and a net margin of 29.72%. First Solar's revenue for the quarter was up 6.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.20 EPS. Equities analysts expect that First Solar, Inc. will post 13.05 earnings per share for the current fiscal year.

First Solar Company Profile

(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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Institutional Ownership by Quarter for First Solar (NASDAQ:FSLR)

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